Emergent Technology Holdings LP and Valcambi enter into licensing agreement to track responsibly sourced gold
Emergent Technology Holdings LP (“Emergent”) announced today it has entered into an agreement with Valcambi sa (“Valcambi”) to license Emergent’s Responsible Gold™ supply chain technology.
Valcambi is the first refiner to adopt Emergent’s blockchain solution, which traces the provenance of conflict-free gold from mines, to refineries, and through to vaults. Gold supply chain participants use Emergent’s mobile application to scan chips in tamper-proof seals (“cryptoseals”) to record transfer of custody and provenance.
“Producing refined gold that is responsibly sourced is vital to the sustainable success of our business and our industry. As we make every effort to ensure the integrity of our supply chain, we place high value on technologies that automate and strengthen the sourcing process. The use of Emergent’s technology will further increase our supply chain transparency and traceability, which are Valcambi’s priorities,” said Michael Mesaric, Valcambi’s CEO.
Emergent’s platform provides refiners with the highest assurance that gold leaving a mine is the same gold that arrives at their refineries. The immutable and irrefutable system collects data for each lot of gold-bearing material that is refined.
In an industry first, Valcambi is adding Emergent’s technology to its more conventional sourcing process to provide information and assurance on the provenance of the gold it manufactures.
“We are absolutely delighted to be working with Valcambi on this project. Valcambi’s reputation for integrity and position as the world’s largest gold refiner confirms the value of Emergent’s offering,” said Matthew Keen, Emergent’s Managing Director, Responsible Gold Trading. “We are witnessing increasing demand for responsibly sourced gold. Using our blockchain technology, permissioned participants can track gold origin and the chain of custody at any time. Our platform delivers a level of visibility and traceability never before experienced by the gold industry.”
Valcambi Green Gold kilobars were used to produce Emergent’s first 1000 G-Coin™ tokens in 2017. The digital tokens represent 100% ownership of, and title to, vaulted, responsibly sourced gold. G-Coin tokens are available now by invitation only and will be available to buy, sell, transfer or redeem for physical gold in Q3 2018.