SANTA CLARA, Calif.,
Feb. 12, 2018 /PRNewswire/
-- Emergent Technology Holdings LP ("Emergent") is pleased to
announce its first industry partnership with Yamana Gold Inc.
(NYSE: AUY) (TSX: YRI) ("Yamana").
Yamana, a global precious metals mining company, is the first to
license Emergent's blockchain technology supply chain solution,
which traces the provenance of Conflict-Free Gold from mines to
refineries, and through to vaults. The solution uses blockchain
technology to administer smart contracts among the parties involved
in the delivery of gold-bearing material, including miners,
refineries, logistics providers and insurance companies.
Yamana, Emergent and leading industry and blockchain technology
partners developed the solution in an effort to simplify and
automate supply chain traceability of the conflict-free gold it
delivers to refineries. This new platform will provide refiners
with a transparent and irrefutable system by digitally collecting
and maintaining information for each lot of gold-bearing material
that is refined. In addition, the platform consolidates existing
high standards of diligence among supply chain participants.
"Yamana is committed to mining metals ethically and responsibly.
One element of this is our commitment that all of our gold can be
verified as conflict free," said Peter
Marrone, Yamana's Chairman and Chief Executive Officer.
"While our conformance with the Conflict-free Gold Standard is
independently attested to each year, we see significant
efficiencies, value and potential for greater assurance by tracking
title and provenance of gold on a blockchain data network
throughout the gold value-chain. We began working with Emergent in
early 2016 and the platform they have developed proves provenance,
assuring buyers and investors that the gold they buy is from
responsible sources. A digitized supply chain process will improve
efficiency and transparency."
Emergent's Responsible Gold™ platform is the only permissioned
blockchain that tracks responsibly sourced gold from its origin to
vault. Miners, including Yamana, and other supply chain
participants will use Emergent's mobile application that scans
smart chips in tamper-proof seals and records transfer of custody
and other data on the Responsible Gold blockchain.
"We are delighted to be working with Yamana on this initiative,"
said Emergent's Chief Administrative Officer, Andrew Parsons. "We have created a connected
record across each stage of the supply chain that is immutable,
irrefutable, auditable and transparent.
"Our platform was developed by the world's top minds in
blockchain technology and delivers absolute confidence that all the
gold in our ecosystem is 100 percent responsibly sourced. Financial
institutions, corporations, jewelers and individual investors are
all set to gain as we drive demand for conflict-free gold," said
Parsons.
Emergent Technology is also launching G-Coin™, a digital token
backed by physical gold sourced from the Responsible Gold supply
chain platform. Yamana has also made an investment and is a
founding partner in Emergent. Yamana expects G-Coin will enhance
and expand the benefits of the Responsible Gold platform by
providing a credible investment product to investors and
individuals.
G-Coins will be available as a means of exchange and a new
investment class in the second quarter of 2018.
"A digital gold currency – G-Coin – that is 100 percent backed
by responsible gold is both economically and socially responsible.
Our decision to invest in Emergent was heavily influenced by the
responsible gold supply chain ecosystem backing G-Coin," Mr.
Marrone also stated. "Promoting the use of or investment in
responsible gold is important to Yamana. It reinforces our
commitment to respect human rights and discourage unlawful armed
conflict in areas where precious metals are mined. Responsible gold
is emerging as a new asset class, which we are proud to support and
advocate to buyers of and investors in gold alike."
To learn more, visit www.emergenttechnology.com. For client and
customer inquiries, email inquiries@emergenttech.com.
About Emergent Technology:
Based in Santa Clara,
California, Emergent Technology Holdings LP owns and
operates Emergent Payments®, the G-Coin digital token and the
Responsible Gold ecosystem. The company operates in more than 60
high-growth markets across Asia-Pacific, Latin
America, the Middle East
and Africa. The company will be
launching G-Coin and the Responsible Gold supply chain in Q2
2018. The blockchain technology and smart contract platform
traces responsibly sourced gold from mine, to refinery, to vault
and then digitizes that gold into secure G-Coins for trade around
the world.
About Yamana:
Yamana Gold Inc. is a Canadian-based gold producer with
significant gold production, gold development stage properties,
exploration properties, and land positions throughout the Americas
including Canada, Brazil, Chile
and Argentina. Yamana plans to
continue to build on this base through existing operating mine
expansions, throughput increases, development of new mines, the
advancement of its exploration properties and, at times, by
targeting other gold consolidation opportunities with a primary
focus in the Americas.
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SOURCE Emergent Technology Holdings LP