Jul 07, 2022
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Completed
SUPPLY CHAIN TRANSPARENCY FOR GOLD MINING INDUSTRY
$100,000+
more 1 year
United Kingdom
10+
Service categories
Service Lines
Web Development
Domain focus
Manufacturing
Challenge
Meeting compliance requirements is a challenging and complex task for gold mining and production companies as the process of collecting and presenting proofs of evidence often experiences delays and requires substantial financial investments to complete.
Technological challenges for Unicsoft team:
1.Tracing something that is constantly changing
Our highest priority was coming up with a way to track the origin of every gram of gold electronically.
2. Ensuring system security
It was expected that the system would store a large amount of genuine information about a cache of gold’s origin, quality, movements, and transactions.
Meeting compliance requirements is a challenging and complex task for gold mining and production companies as the process of collecting and presenting proofs of evidence often experiences delays and requires substantial financial investments to complete.
Technological challenges for Unicsoft team:
1.Tracing something that is constantly changing
Our highest priority was coming up with a way to track the origin of every gram of gold electronically.
2. Ensuring system security
It was expected that the system would store a large amount of genuine information about a cache of gold’s origin, quality, movements, and transactions.
Solution
End-to-end gold bar tracking
In order to account for each piece of gold created within the gold production cycle, we applied a QR code to each gold ingot and every derivative of an individual ingot.
For this purpose, we developed a custom system for registering every operation and displacement of gold:
The logic of the ingot’s operations is programmed in the form of smart contracts, so their consistency can not be altered by anyone. This ensures trust and transparency for the entire supply chain.
End-to-end gold bar tracking
In order to account for each piece of gold created within the gold production cycle, we applied a QR code to each gold ingot and every derivative of an individual ingot.
For this purpose, we developed a custom system for registering every operation and displacement of gold:
The logic of the ingot’s operations is programmed in the form of smart contracts, so their consistency can not be altered by anyone. This ensures trust and transparency for the entire supply chain.
Results
As a result of Unicsoft’s collaboration, our client now operates a reliable tracking system that allows for a deeper level of control over the gold’s origin including the entire chain of events, from the mine to the end customer.
From now on, the gold mining industry will leverage supply chain transparency via the tracking of each piece of gold electronically and consolidating data from different supply chain members in a highly secure manner.
As a result of Unicsoft’s collaboration, our client now operates a reliable tracking system that allows for a deeper level of control over the gold’s origin including the entire chain of events, from the mine to the end customer.
From now on, the gold mining industry will leverage supply chain transparency via the tracking of each piece of gold electronically and consolidating data from different supply chain members in a highly secure manner.