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October 19, 2018

Iamgold invests in blockchain firm to improve transparency

Canadian gold producer Iamgold has invested in financial technology company Emergent Technology (EmTech), which uses blockchain technology to track the provenance of responsibly sourced gold and improve transparency in the supply chain.

Canadian gold producer Iamgold has invested in financial technology company Emergent Technology (EmTech), which uses blockchain technology to track the provenance of responsibly sourced gold and improve transparency in the supply chain.

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How attractive are current investment opportunities in Europe?

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Other investors in the technology firm include Sprott, Valcambi and Yamana Gold.

EmTech’s blockchain-based supply chain application, known as Responsible Gold, automates the tracking of responsibly sourced gold from mine, to refinery, to vault.

The gold is then digitised into G-Coin tokens, which serve as digital certificates of title to responsibly sourced gold.

According to Iamgold, the blockchain technology will slash costs related to gold tracking and trading, while also improving transparency.

Iamgold president and CEO Steve Letwin said: “Innovation is a key aspect of the industry’s modernised operating model, and as miners we must begin thinking more strategically to stay sustainable and profitable in the future.

“By placing us at the forefront of an exciting new blockchain-based ecosystem, this investment will allow Iamgold to unlock new value by revolutionising provenance and efficiency and providing greater transparency in the supply chain.

“EmTech also brings a unique opportunity for the gold sector to collaborate and further contribute to the improvement of socioeconomic and humanitarian conditions in jurisdictions where precious metals are mined.”

“EmTech brings a unique opportunity for the gold sector to collaborate and further contribute to the improvement of conditions.”

The miner has four producing gold mines with an average production rate of 800,000 attributable ounces of gold per year.

Earlier this year, De Beers used its Tracr blockchain technology platform to track the journey of 100 high-value diamonds along the value chain from mine to retail.

The Tracr project, which also includes diamond manufacturers, is aimed at improving efficiencies across the value chain and will be made available to the industry.

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Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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