Page 27 - Bullion World Volume 04 Issue 08 August 2023

Bullion World | Volume 3 | Issue 8 | August 2023

Highlights of APPMC 2023: Understanding the

Significance of Gold Bar Integrity (GBI)

Chair: Ms Sakhila Mirza, Executive Director, LBMA
Panellists: Mr Gregor Gregersen, Silver Bullion Pte Ltd, Mr Sachin Patel, CME Group
Mr Urs Roosli, aXedras Group AG, Mr David Woodford, ABC Refinery

Mr Gregor Gregersen, Silver
Bullion Pte Ltd gave us information
about the provenance tracking
system incorporated by Silver Bullion
Pte Ltd which tracks the bar right
from the mining stage through the
custodian stage where every single
bar of gold is tracked. We at Silver
Bullion are striving to track and
record every single bar in the vault
in real-time. This system will turn
provide traceability to our clients,
where they can locate each and
Ms Sakhila Mirza Mr Gregor Gregersen
every bar according to their will.
Our system is very simple and easy
Ms Sakhila Mirza started off Features
by giving us the meaning of to work around and navigate and it 1. Source direct data: vault/
the Gold Bar Integrity from the is being used in places like Zurich, custodian personnel
LBMA perspective which is to Dallas, and even Singapore. 2. Tamper evidence: via public
make sure that the precious blockchain hashes
metal is actually gold and that it GramChain Proof of Reserve (POR) 3. Realtime: broadcast live via RFID
is sourced in a responsible way Tracks: scanners/tablets
without the influence of fraud or 1. Physical assets in vaults 4. Ecosystem: valuation,
misrepresentation. The LBMA have (fungible or unique basis) provenance, audits, etc...
collaborated with five organisations 2. Asset encumbrances by 5. GramChain is now supported by
to pilot their GBI initiative and each custodian (optional) Chainlink enabling reliable on-
speaker will provide their contribution 3. Custom events (audits, chain contract integration.
to the initiative. valuations, provenances, etc...)

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