Goldmoney Launches Royal Canadian Mint's Gold Bullion on Blockchain

Goldmoney Inc. (TSX:XAU) and the Royal Canadian Mint just unveiled a collaboration focused on the addition of a secure precious metal storage facility in Ottawa to the network. Individuals and firms can now buy reserved physical gold in the Mint’s Ottawa vault using Goldmoney’s proprietary, closed-loop Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology.

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Clients can also send gold titles via text message or email, redeem their gold balances to a Mastercard prepaid card or bank account in local currency, or make vault-to-vault gold transfers between the Mint and seven of Brink’s vault locations located around the world via Goldmoney’s apps.

“As a leading Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term company globally, we’re thrilled to collaborate with one of the world’s premier minting facilities,” said Darrell MacMullin, CEO, Goldmoney Network. “We’re proud to add the Royal Canadian Mint to the Goldmoney Network, thereby converting Mint-vaulted gold bullion into an innovative modern-day money stock while expanding our storage and physical delivery offerings.”

“Through collaborations of this kind, we’re creating innovative ways to match supply and demand of precious metals while further expanding the utility and capabilities of the Goldmoney Network,” said Josh Crumb, a founder and chief strategy officer of Goldmoney Inc. “We look forward to working together with the Mint to explore educational co-marketing activities that aim to boost awareness and accessibility of precious metals.”

“We’re excited to join the Goldmoney Network and offer Goldmoney and its Network users highly-secure storage services at our vaults in Ottawa,” said John Moore, vice-president, sales at the Royal Canadian Mint. “We also look forward to working with Goldmoney on future marketing initiatives that demonstrate Canada’s leadership role in the global precious metal industry.”