Photo: ABC Refinery
Blockhead Technologies Inc. (“Blockhead”) has entered a partnership with ABC Refinery, the refining division of Pallion, Australasia’s largest independent precious metals service group, to track ABC’s gold. ABC Refinery is Australia’s pre-eminent independent precious metals assayer, refiner and mint, and the exclusive manufacturer of ABC Bullion products.
Partnership to track gold
Blockhead and ABC Refinery are partnering to create a technology platform that enables precious metal traceability and tampering detection. It incorporates Blockhead’s leading blockchain-enabled STAMP Vision technology. The STAMP Vision platform uses advanced image processing of gold bullion and – by leveraging the security of the blockchain – can track gold throughout the entire supply chain.
STAMP Vision utilises advanced image processing to create a ‘digital fingerprint’ for each gold and silver bullion bar and stores it in a crypto-graphically secure manner. Clients can quickly reference this information, through the easy-to-use mobile app, for assurance that the bullion is authentic ABC Refinery bullion and has not been tampered with.
The solution is implemented to reduce fraudulent gold bullion, an increasingly costly issue as the price of gold climbs. Some estimate gold fraud annually, around the world, is valued in the many millions of dollars.
How STAMP Vision works
Using the iOS and Android mobile application, which features artificial intelligence and machine learning, ABC Refinery clients can confirm the authenticity of their ABC Bullion product at the time of purchase. The Blockhead STAMP Vision technology is very easy to use and can confirm the bullion has not been tampered with, providing crucial peace of mind to the buyer.
In Perth, Greg Leach, Blockhead Technologies’ CEO, said: “This partnership – between Blockhead Technologies and ABC Refinery – is a major corporate milestone for our software company. We look forward to delivering an outstanding product, in conjunction with ABC Refinery, that will give all of ABC Bullion’s customers increased confidence and peace of mind in their gold purchases. The project, using our STAMP Vision technology, is an important partnership to develop a precious metals’ traceability and tampering solution.”
In Sydney, David Woodford, Pallion’s Chief Commercial Officer, said: “ABC Refinery is delighted to be partnering with Blockhead on this high-tech Australian innovative solution. The technology will provide the gold industry the surety that the metal they purchase from ABC Refinery can be validated as being ethically sourced and reliably tracked throughout its journey from the minesite to the marketplace.”
Blockhead Technologies is a software company delivering highly customized and interface-agnostic SaaS products to clients. BHT, which was established in 2017, is headquartered in Vancouver, Canada, and Perth, Western Australia. Blockhead’s flagship platform STAMP aims to bring secure tracking and source certification across value chains.
ABC Refinery is the refining division of Pallion, Australasia’s largest independent precious metals service group. It is Australia’s pre-eminent independent precious metals assayer, refiner and mint and the exclusive manufacturer of ABC Bullion product. It is based in Marrickville, Sydney, New South Wales, and is one of Australia’s largest private companies, employing more than 200 people.
ABC processes more than 100 tonnes of gold per annum and more than 500 tonnes of silver per annum, making it one of the world’s largest refiners of precious metals. For further information read more at www.abcrefinery.com.