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UK Royal Mint Reveals Live Gold Channel

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The Royal Mint of the United Kingdom has just unveiled its gold tracking mechanism built with Blockchain technology

block August 2 and while it is not yet available to the public, has checked more than 50 000 blocks.

The Blockchain technology-based tracking system is designed to maintain records of sales and ownership of the precious metal. it is relatively complex. The system was built with a number of careful additions to reduce any risk to relatively zero. Here are some points from the report:

  • The RMG network will require several independent cryptographic signatures to execute any transaction, thus keeping RMG safe from the loss of a single touch. Due to the way the Blockchain enforces addresses, it is not possible to send RMG to an invalid destination where the RMG could not be recovered.
  • The Asset Trading Platform is secured by cyber security practices and controls. who are informed by global frameworks such as NIST and ISO
  • All parties involved in the network are identified.

The project was unveiled for the first time in 2016 as a potential. The power of Blockchain technology both to protect and secure even physical assets.

Senior marketing director Nicola Robinson rightly said: "It's simple, it's so simple, it's just a digital representation of real gold. about RMG, it's that it's live, it's there, it works. "

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