Why will blockchain change the gold mining industry?

We are confident that blockchain can change the sphere of precious metals mining for the better. This technology allows us to avoid corruption and improve the quality of work by tracking valuable assets at every stage of their movement, from the place of extraction to retailers.

In order not to be unprofessional, let’s give two examples.

First: the world’s largest diamond mining company, Russian ALROSA, has joined a blockchain project aimed at increasing transparency in the industry.

Second example: the world’s largest Bank holding company, JPMorgan, has started using its blockchain to tokenize gold.

Why do they do this? Then why does our project use blockchain?

To certify the entire process of mining precious metals;

To allow buyers to check the origin of the metal;

To give a guarantee that the metal is extracted legally.

In our project, it is also tracking all transactions and payments made as a part of the implementation within GLDS project.

For the precious metal mining industry, which has been fighting illegal mining methods for many years, the use of blockchain could be a turning point.