Canadian Mint joins private blockchain platform

Goldmoney (BC)

21/12/2016 12:30

TORONTO, Dec 21 (Reuters) - The Royal Canadian Mint has 
joined a blockchain platform run by Goldmoney Inc  XAU.TO , the 
first time in the world that mint-vaulted bullion has been 
traded on such a private digital ledger, the Canadian fintech 
company said on Wednesday.  
    The deal "lays the groundwork for further integrations by 
other countries and other mints," Roy Sebag, Goldmoney's chief 
executive officer, said in a phone interview. 
    Blockchain first emerged as the system underpinning digital 
currency bitcoin. The technology creates a shared electronic 
ledger that allows all parties to track information through a 
secure network, with no need for third-party verification. 
    "It's no different than what gold or silver used to do, but 
in digital form," Sebag said. "You're circumventing the banking 
system and you're able to exchange value instantly with no 
settlement delays." 
    The Mint plans to extend its relationship with Goldmoney in 
order to promote Canada's "leadership role in the global 
precious metal industry," spokesman John Moore said. 
    Goldmoney says it has more than a million users in 150 
countries and administers $1.7 billion in client assets. 
 
 (Reporting by Alastair Sharp; Editing by David Gregorio) 
 ((alastair.sharp@reuters.com; +1 416 941 8118; Reuters 
Messaging: alastair.sharp.thomsonreuters.com@reuters.net)) 
 
Keywords: CANADA BLOCKCHAIN/