Every purchase transaction made through the Gilded App is contemporaneously recorded on the Linux Foundation Hyperledger blockchain. In the most basic of terms, “blockchain” is a database of information stored electronically on computer systems. Blockchain is being rapidly adopted in many fields, such as banking and finance, healthcare and property records. The Linux Foundation Hyperledger blockchain is considered to be the de facto standard for enterprise blockchain platforms and has been developed by such companies as Cisco, IBM, Intel, Hitachi, JP Morgan, State Street and Deutsche Bourse Group with input from some 120,000 contributing organizations and 15,000 engineers.
Each purchase of gold made through the Gilded App is electronically reported to you through a Digital Warehouse Receipt that includes the following specifics about your transaction: date of purchase, name of the holder, account number, gold bar serial number, gold amount, vault location, hallmark verification and Linux Foundation Hyperledger blockchain number.
As noted in the FAQ “What are the security and trust features of the Gilded Offering”, your gold is stored in fully-insured non-bank Brinks vaults in Zurich, Dubai, Sri City, Singapore, New York or London. Brinks brings more than 150 years of experience as the market leader in providing the highest levels of security, service and accountability to the safeguarding of valuables. Your gold is also verified by Bureau Veritas, a nearly two-century-old global firm devoted to establishing trust amongst individuals, public authorities and companies in all matters, including those between businesses and their customers, and audited by Armanino LLP, a top 25 US accounting firm that is affiliated with Moore Global, one of the world’s major accounting and consulting companies. Significantly, your purchases are also recorded in immutable fashion on the Linux Foundation Hyperledger blockchain – this record, plus your Digital Warehouse Receipt with its identifying information, provide clear documentation of your ownership. Ownership that is, in turn, always available for confirmation on your Gilded account page.
All summed, the Linux Foundation Hyperledger blockchain record, the Digital Warehouse Receipt and the long-standing expertise of service providers like Brinks, Bureau Veritas and Moore global establish the highly secure and reliable recording and reporting system for your gold purchases.