SMX (SECURITY MATTERS) (NYSE:SMX) TrueGold: Empowering the Gold Industry to New Levels of Transparency and Verification That is Both Tangible and Digital
Transparency directive : regulatory news
MIAMI, FL / ACCESSWIRE / November 12, 2024 / trueGold, a subsidiary of SMX (NASDAQ:SMX), is revolutionizing the gold industry with its molecular-marking technology. This groundbreaking system, which creates a fully traceable and verifiable supply chain for gold, from mining to the marketplace and recycling, is nothing short of a game-changer that brings a new level of transparency, accountability, and, as importantly, an ability for companies to confidently meet stringent industry standards and verify its exclusive use of ethically sourced gold. It's so good that it's an accredited Gold Bar Security Feature by the London Bullion Market Association (LBMA), a validating and unrivaled adoption that could expedite its use in other industries.
At the core of trueGold's technology is SMX's marker, reader, and digital platform-a system that allows gold to be marked at the molecular level, enabling it to be traced both tangibly and digitally from its origin in the mine through refining and manufacturing, all the way to recycling and reuse.
Unlike any other known tracing technology, these molecular markers allow the data embedded in each gold item to be read without destroying the product or sending it to a special lab for testing. It can quantify the concentration (%) of recycled material within a product, verify the gold's origin, and confirm whether it includes recycled content. This applies both to gold bars and finished gold products like watches and jewelry, with the technology ensuring that each piece can be traced to its ethical origin and its complete journey through the production chain recorded on the blockchain.
TrueGOLD molecular-marking technology
While already beyond impressive, trueGold's molecular marking technology is made even more robust through its recent collaboration with Ava Global, a leader in high-value logistics. Ava Global's expertise ensures that the traceability established by trueGold's marking technology is preserved and verified at every transfer and checkpoint. By managing the secure transport of gold, Ava Global enhances the transparency and accountability of the supply chain, assuring consumers and stakeholders that each stage of the gold's journey has been verified and safeguarded. This partnership underscores trueGold's commitment to ensuring that the gold can be authenticated and accounted for from origin to final destination.
Chris Fergus, CEO of Ava Global, highlighted the partnership's impact, saying, "In a world where consumers and industries alike demand transparency, our collaboration with trueGold is transformative. By combining our secure logistics expertise with trueGold's molecular marking technology and its digital platform, we're not just moving gold; we're delivering trust and accountability at every stage of its journey. This partnership is setting a new standard for the industry, empowering every stakeholder to be able to verify, the origination and history of the gold they handle. It's a pioneering step toward a future where traceability and responsibility aren't just features-they're foundational expectations."
Further enhancing the integrity of the gold supply chain, trueGold has partnered with Fingo, a leader in secure digital verification. Fingo's cutting-edge platform enables efficient and secure verification processes, ensuring that only authorized personnel handle and process the gold at various stages. This collaboration adds an additional layer of security, minimizing the risk of fraud and unauthorized access and reinforcing the trustworthiness of the entire supply chain.
Value beyond tracing bullion
TrueGold's impact on the industry extends beyond bullion bars and coins to include high-end consumer products such as jewelry and luxury watches. By applying their technology to these categories, trueGold enables luxury brands to deliver on their promise of ethical sourcing. For the discerning consumer, this means the assurance that the gold in their jewelry and watches has been responsibly sourced and carefully tracked and verified. TrueGold's expansion into the luxury goods market reflects a broader trend in the sector, where transparent sourcing, the ability to prove and verify that the gold contains recycled material, and sustainable production are fast becoming essential brand attributes.
Notably, trueGold's technology's potential lies in securing the provenance of new gold and supporting circularity in the industry. By marking gold in a way that persists through recycling, trueGold enables a closed-loop lifecycle for gold products, supporting sustainability and reducing the environmental impact of mining. This capability aligns with the broader movement toward a circular economy, where products are designed to be reused, recycled, and reintroduced into the market with minimal waste. trueGold's circular approach to gold traceability offers an innovative response to mounting global concerns over resource depletion and environmental impact, resonating strongly with both eco-conscious consumers and investors.
Partnerships drive the value proposition
Today, after expanding its commercial partnerships to increase the reach and application of its technology, trueGold is helping to bring new levels of transparency and accountability to the gold industry. Moreover, its efforts are setting the stage for other precious metals to follow suit, highlighting a path where ethical sourcing and sustainable production become the norm, not the exception.
Indeed, as the gold industry contends with rising consumer expectations and evolving regulatory standards, trueGold's progressive technology is proving that innovation can be both profitable and ethical. The collaboration between trueGold, Ava Global, and Fingo is more than a technological advancement-it's a statement about the future of the gold industry, one in which transparency, accountability, and sustainability is woven into the fabric of every transaction.
By leading the way with its transparent and traceable gold supply chain, trueGold exemplifies how technology can meet modern demands for ethical products, offering a sustainable path forward for the entire gold market. This partnership-driven approach is not just about gold; it's about establishing a model of trust and accountability that could transform the very foundation of global trade.
Sources:
https://www.smx.tech/technology
About SMX
As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
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SOURCE: SMX (Security Matters)
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