UK Royal Mint to use blockchain to track gold trades
System will track ownership of gold traded on new platform without the need of a central database
The UK’s Royal Mint has launched a new gold tracking system, the first component of a digital gold trading platform based on blockchain technology.
“The system tracks the ownership of the gold held in our vaults on a distributed ledger. Firms which want to trade the gold can connect to the ledger and transact across it,” David Janczewski, director for new business at the Royal Mint, tells Central Banking.
First conceived in 2016, the tracking system forms the basis of a digital trading
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