The buzz is building as the London Bullion Market Association (LBMA) prepares to officially launch its Gold Bar Integrity (GBI) database, the first steps in leading the world’s gold supply chain towards greater standardization, product integrity, and transparency. The physical precious metals market is taking the opportunities of this digital age in a new direction, and aXedras has harnessed that technology as creator, developer, and what will be the ongoing technical support behind it.

Back in March, we ran a blog post sharing the exciting news that the LBMA had chosen aXedras as the official creator and service provider for the Gold Bar Integrity (GBI) database. Just under a year later, the GBI database is set to officially start, with the goal, as the LBMA puts it, to “digitally trace gold as it moves through the global supply chain, confirming provenance and providing transparency over the value chain.”

The first phase, kicking off in January 2025, will see the collection of key data from refineries and actual vault holdings in London, with the database providing refiners and custodians with a more efficient, secure, and real-time means for sharing data with the LBMA. Further phases are in the planning, and we’ll be sure to share those with you as they are announced.

The excitement is palpable, as the GBI is certainly set to revolutionize the precious metals industry. As the World Gold Council’s CFO, Terry Heymann, declared, “This change in approach from ‘my company operates responsibly’ to ‘my entire supply chain operates responsibly’ is gaining traction and will herald a positive transformation in the way in which the gold market operates. In turn, it will lead to many more customers and investors deciding that they have trust in gold and in the gold market.”

This GBI Database and the technology utilized by aXedras are just the first actionable steps in what will become a more safe and secure future of the gold market.

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Read more here….

The GBI Database and Beyond | Alchemist | LBMA

GBI Database: Reasons to Be Excited | LBMA

Gold Bar Integrity Ecosystem | LBMA

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