ABC Refinery Adopted New Technology to Authenticate Provenance of Gold Bars

The ProvCheck app enables customers to trace the provenance of gold bars and offset carbon emissions in just a few clicks.

SEATTLE (Scrap Monster): The Pallion Group's fully owned subsidiary ABC Refinery declared that it has implemented a new method to verify the origin of gold bars. Blockhead Technologies created the ProvCheck app with the goal of assisting miners and refiners in fulfilling the Good Delivery Standards and Responsible Sourcing Program standards set forth by the London Bullion Market Association (LBMA).

ALSO READ:

Russia, Mali Signed Agreement to Build New Gold Refinery

Gold Refinery Pledges to Cut Carbon Emissions from Supply Chain

By guaranteeing the authenticity of the products, the app will assist miners, refiners, and buyers of bullion products in gaining a clear understanding of the sources of their precious metal investments. Customers could scan the bars to learn more about the product's origin and carbon emission levels as well as its mine-to-market history. At the moment, 1 kilogram gold bars bearing the ABC Bullion brand are compatible with it.

With a few clicks, users of the ProvCheck app may offset carbon emissions and track the origin of gold bars.

Pallion CEO Andrew Cochineas emphasized the refinery's innovative role in becoming the first to use the ProvCheck app. Its commitment to openness and innovation in gold refining is strengthened by the use of the new technology, which also provides more information about the provenance and sustainability of gold bars.

• Gold climbs to over one-month high after Fed rate cut; silver hits record high
• Gold gains after Fed rate cut, silver hits all-time peak
• Gold rises ahead of Fed rate cut decision, silver hits $60/oz milestone
• Gold Prices Extend Strong Rally as Market Awaits Key Fed Decision