Responsible GoldTM is a much-needed solution to the gold supply chain’s trust gap
Gold presents opportunities for bad actors to take advantage of its inherent properties and complex supply chains.
- Classified as a “conflict mineral”, gold mining proceeds can perpetuate armed conflict, violence and human rights issues in politically unstable areas.
- Drug cartels and illegal business are known to skirt global banking regulations by laundering proceeds of illegal activity through gold refining.
- The use of mercury to extract gold irreparably damages the environment and introduces catastrophic health risks.
- Illegal miners, sometimes children, work in confined spaces and unstable mineshafts, risking death from explosions, tunnel collapse, or exposure to toxic fumes.
Responsible Gold optimizes efficiency, transparency and integrity across the gold supply chain.
- The Responsible Gold Standards include over 180 industry best practice environmental, social and governance risk and control cards for miner, refiners, logistics providers and vault operators; and real time monitoring of red flag activity on and off the blockchain.
- The Responsible Gold Supply Chain Application is a mobile application to track cryptographic, blockchain-compatible, NFC-enabled, tamper-evident seals placed on gold raw material as it is packaged and transferred from mine to refiner to vault. Information captured on the app is hashed onto the blockchain.
By connecting responsible companies and people in one Ecosystem, Responsible Gold elevates ESG profiles and meets new demands for conflict-free and responsibly sourced gold.