Why | Benefits of aXedras for the Bullion Market

WHY: Beefits

The "trilemma" of the precious metal market

The "trilemma" refers to the fact that it has traditionally been seen as impossible to achieve the following three objectives at the same time within the precious metal industry:

Integrity, authenticity and legality of the products and data
Transparency around the products' provenance and chain of custody
Confidentiality, privacy and security of business transactions and stakeholders

So far, available technology and business processes have made it challenging to fulfil the required standards in all three dimensions simultaneously and efficiently. The innovative use of new technologies, including DLT / blockchain, has enabled aXedras to build the Bullion Integrity Ledger™ and to overcome the "trilemma".

Benefits

aXedras combines sound bullion market expertise and cutting-edge technology to equally benefit the stakeholders of the precious metal industry. The unique and innovative confidentiality concept, which aXedras has developed and integrated into the Bullion Integrity Ledger™, allows to combine the above-mentioned three dimensions at the same time.

The innovative Integrity Certificate acts as digital twin of physical products to ensure the integrity of products and data

The Bullion Integrity Ledger™ connects its members in a peer-to-peer manner and ensures seamless, secure and confidential interaction: data sovereignty remains at the network members

The underlying distributed ledger / blockchain enables to increase the transparency around the provenance and chain of custody per product: connecting upstream and downstream

Integrity

Immutable and cryptographically secured registry of physical transactions and product data updates

Permission-based data updates: only authorised parties are entitled to write on the blockchain

Active brand protection through the systematic detection of potential duplicates or counterfeits

Versatile, high-quality and real-time KYP (Know Your Product) services

Digital Transformation

Mutually agreed data standards as the foundation for efficient B2B information flow and transactions

Digital transformation of (B2B) processes

Streamlining of existing operating processes and efficient data processing through unified standards

Elimination of data silos, recurring paperwork and process fragmentation or duplication

Bullion Integrity Ledger™ as neutral and decentralised data-base for the bullion market

Interoperability

Seamless data transfer through standardised interfaces between member IT systems

Connecting and providing access to third party solution providers

Agnostic approach to cover current and future technologies such as security features

Enabling the fungibility of physical precious metal products between different markets

Setting the technical foundation for industry-wide collaboration and digitalisation projects

Confidentiality

Platform members retain control and ownership of their data and decide with whom to share which data with

State-of-the-art usage of distributed ledger technology avoids central aggregation of sensitive data

Data is only shared and stored peer-to-peer

Digital proof of custodianship and ownership without compromising confidentiality

Transparency

Immutable documentation of the provenance of precious metals

Understand the respective chain of custody of precious metals

Trace any changes of product data and documentation

Industry reports, analysis and data services on an aggregated level