| The name of the base system (platform): | Projects based on blockchain technology |
| Developers: | Tradewind Markets |
| Date of the premiere of the system: | January, 2020 |
| Branches: | Financial services, investments and audit |
2020: End of the first transaction
In the middle of January, 2020 the Tradewind Markets company announced end of the first transaction on sale of gold using the Tradewind Origins blockchain platform.
The transaction included the transfer of gold from Agnico Eagle Mines to the Bank of Montreal confirmed with Royal mint of Canada. Within the transaction 5000 ounces of gold worth about $7.4 million were transferred.
The Origins platform started in November, 2019 monitored data transmission about the owner and a supply chain up to formal adoption of the property right by the Bank of Montreal. Agnico Eagle Mines provided the information on origin of the gold extracted in the Laronde mine in Quebec, and the Royal mint of Canada checked quality and confirmed origin of precious metal.
The CEO of Tradewind Markets Michael Albanese considers that the blockchain platform of the company will provide the wide overview of a global supply chain of precious metals and will forever change business model in this industry. Tradewind Markets not only controls a blockchain system, but also manages the B2B electronic trading platform for gold and silver on the basis of IEX technology (not a blockchain). The royal mint of Canada helps Tradewind to register physical gold on VaultChain, acting as the trustee, recognizing at this Tradewind as the owner. Besides, the Mint itself can provide gold to clients on behalf of Tradewind.
Using a blockchain, Tradewind carefully traces a supply chain and confirms quality of the provided precious metals. The platform directly connects producers, trustees, sellers and investors in the field of sale of precious metals, considerably facilitating and optimizing trade process.[1]
Notes
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