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Precious Metals & Minerals

GCoin is reinventing the way responsibly sourced gold is used for payments and investments.

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Ecosystem

GCoin

Making gold the most liquid asset on earth with an open network for the precious metals supply chain.

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Ecosystem

GCoin

Making gold the most liquid asset on earth with an open network for the precious metals supply chain.

G-Coin
Overview

Tracking responsibly sourced gold from source to consumer

Chronicled is working in partnership with Responsible Gold to build the first open and blockchain-powered platform to serve the requirements of the global gold mining industry.  

The Responsible Gold ecosystem strengthens the gold industry’s supply chain in multiple key areas. By tracking transfer of custody, gold provenance and other data on blockchain, the ecosystem for the first time ever offers a supply chain system that is immutable, irrefutable and auditable. By doing so, it is allowing us to bring global participants together into one collaborative ecosystem, providing greater access to, and uses for, gold.

GCoin, an asset backed token backed by responsibly sourced gold, aims to make gold the most liquid asset on earth - for consumer payments, central bank reserves, and settlement of cross-border trade.



Highlights

Making gold the most liquid asset on earth

Digital gold as medium of exchange
Proof of responsible sourcing

Large funds, central banks, and ETFs that hold gold use the platform to prove their gold has been responsibly sourced. Supply chain participants adhere to stringent responsible sourcing standards. The platform provides assurance that gold is responsibly sourced and conflict-free using secure identifiers, document upload, and chain of custody protocols.

Supply chain payments efficiencies
Supply chain payments efficiencies

The gold mining industry is highly international. When gold bullion is shipped across borders payments, fiat currencies must be hedged to avoid currency exchange risk.  Also, true-ups between miners and refiners must be processed when invoices, shipments, and refined quantities do not match.  Using G-Coin for these payments in the supply chain can eliminate the costs of hedging and makes true-ups frictionless.

Digital gold as medium of exchange
Digital gold as medium of exchange

G-Coin tokens are digital certificates of title to responsibly sourced gold that can be digitally exchanged between account holders on the network just like Bitcoins. One G-Coin token is equal to one gram of physical gold secured in a vault. G-Coin tokens can be held as a store of value, redeemed for physical gold, transferred, exchanged for currency or used to make payments. Consumers can even use a Debit Card to pay for groceries or gasoline in G-Coin.

How it works

An open and collaborative network

GCoin is an industry-wide network driven and operated by the industry itself, connecting participants p2p on a decentralized and secure blockchain network.

Network Participants

Driven by innovative enterprises collaborating together

Timeline
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Custom Solutions

How it works

Step 1
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Tracking of gold assets begins at the mine site. We provide miners with “cryptoseals” – tamper proof seals that contain PKI NFC chips - the same chips in a credit card or government passport.

Step 2
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Miners attach the cryptoseals to doré bars when they prepare shipments.

Step 3
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When doré bars are ready for shipment miners transfer custody of the bars by scanning the cryptoseals with a mobile App.

Step 4
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Logistics providers repeat the process to accept custody of the doré bars as well as to transfer custody to refiners on delivery.

Step 5
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Refiners repeat the process to accept the doré bars. The gold is refined in a dedicated process and cast into kilobars with digital tracking of the identity transformation from raw material to finished product. Refiners use the application to select and transfer custody of finished gold products to a vault.

Step 6
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Gold kilobars are now ready for trade and minting as G-Coin tokens or to be used in making jewelry, manufacturing, or other uses.
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Protocols Utilized

  • Account Management
  • IoT Sensorization
  • Physical Chain of Custody  
  • Item and Product Level Management
  • Asset Transformation
  • Asset Tokenization
Learn more
Custom Supply Chain Solutions

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