aXedras Joins the Swiss Better Gold Association
aXedras, the youngest member of our BFI Capital Group, is thrilled to announced having joined the Swiss Better Gold Association (SBGA). As of October 4th, aXedras is the only member providing a digital supply chain traceability solution, which is essentially required to connect and to digitalize the global precious metals industry.
aXedras is now a proud member of the SBGA, a pioneering network of industry, finance, logistics and service providers to support the creation of responsible gold value chains from mine(s) to the market. Founded in 2013, the SBGA groups a number of key industry players within Switzerland with the aim to improve working and living conditions in artisanal and small-scale gold mining and to establish sustainable supply chains from these suppliers to the SBGA's members. Find the overview of SBGA’s current members ,here.
The main goal of the SBGA is providing direct support to artisanal and small-scale gold mining and developing effective, sustainable and responsible supply chains. The software solution provided by aXedras empowers its users to achieve that goal.
The provenance of precious metals can immutably be documented and traced, which creates unprecedented transparency within the precious metal industry without compromising the essential confidentiality between business partners and competitors. Based on a digital twin linked to a physical product, the solution by aXedras digitalizes the entire value chain of precious metals from mines via refiners to the market (i.e., vaults, banks, manufacturers, and jewellers). All relevant B2B processes such as shipments, vaulting or audit services can fully be digitalized.
aXedras acts completely independent of any stakeholder along the value chain of precious metals. All members of aXedras’ blockchain-based platform for the precious metal industry have equal rights and duties. Finally, all members stay in control of their data and decide with whom to share their data with.
Furthermore, the SBGA collaborates with three certification organisations, namely the Responsible Jewellery Council (RJC), Fair Trade International (FTI) and the Alliance for Responsible Mining (ARM). All three organisations establish and maintain widely recognised Volunteer Sustainability Standard (VSS) certifications.
SBGA is backed up by partners around the world. For one, the Swiss government with its State Secretariat for Economic Affairs (SECO) is collaborator. Switzerland is one of the most important commodity trading centres in the world and is also the world leader in gold refining, watch and jewellery making, and home to many financial institutions. Hence, it plays an important role in the worldwide gold supply chain with the purpose of generating transparency, responsibility and profitability in the ASM gold sector.
aXedras Group, founded in 2018, is an independent information technology provider headquartered in Zug, Switzerland. Its objective is to take the precious metals industry to the next level of digitalization. The blockchain-based Bullion Integrity Ledger™ is a member-based trusted data network for peer-to-peer interaction between the stakeholders of the bullion market. The Bullion Integrity Ledger™ ensures the unique combination of integrity, traceability and confidentiality of data and business transactions. Learn more at ,www.axedras.com.