Transcription
[Music] Today's investors and consumers demand transparency. They want to know products have been responsibly sourced and produced. Gold is no exception.
This is why LBMA and World Gold Council have brought together the gold market to develop a secure and standardized system of gold bar integrity and a trusted ecosystem. The Gold Bar Integrity Program aims to generate immutable records using state-of-the-art blockchain technology that creates digital twins of physical gold bars.
A common and digitalized supply chain will support existing standards from across the industry and further improve transparency and trust, giving buyers more confidence in an asset's purity and provenance. Eventually, this will create a more transparent market where, for gold to retain its value, all participants will adopt the highest standards of gold sourcing and fabrication, a goal towards which LBMA and World Gold Councils strive.
The Gold Bar Integrity Program is the foundation that needs to be embedded to move the sector forward. By assuring product integrity, the future gold industry can develop trusted digital gold products that appeal to a broader investment audience, create fungible, interoperable markets, and eradicate artificial barriers to improve participation and increase demand.
We understand the true value of gold as a sustainable asset that can positively affect the world's societal and environmental needs now and in the future.