{"id":8220,"date":"2021-04-22T17:20:04","date_gmt":"2021-04-22T11:50:04","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=8220"},"modified":"2021-04-22T17:20:07","modified_gmt":"2021-04-22T11:50:07","slug":"dmcc-to-launch-gccs-first-blockchain-enabled-precious-metals-refinery-by-q4-2022","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/dmcc-to-launch-gccs-first-blockchain-enabled-precious-metals-refinery-by-q4-2022\/","title":{"rendered":"DMCC To Launch GCC\u2019s First Blockchain-enabled Precious Metals Refinery By Q4 2022"},"content":{"rendered":"\n<p>DMCC signed a sale and purchase agreement with REIT Development to establish the largest (100,000-sq-ft) precious metals refinery and storage facility across the Gulf Cooperation Council (GCC). It will also be the first refinery to be completely enabled by blockchain in the GCC.<\/p>\n\n\n\n<p>The facility will refine and store precious metals including gold, silver, platinum, palladium and rhodium, which will be tokenised on<a href=\"https:\/\/goldexchange.com\/\"> <\/a><a href=\"https:\/\/goldexchange.com\/\">goldexchange.com<\/a>. Gold Exchange DMCC, a secured trading platform, will provide access to financial assets in the form of stablecoins namely GoldCoin, SilverCoin, PlatinumCoin, PalladiumCoin and RhodiumCoin.<\/p>\n\n\n\n<p>Each Ethereum-based token will represent the current value of one gram of each metal and can be traded on the exchange. The tokens will be physically backed by the precious metals at DMCC\u2019s secure storage facility, meaning they can be traded with confidence.<\/p>\n\n\n\n<p>Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: \u201cThe gold and precious metals industry is at a tipping point, but without a doubt there are boundless opportunities that lie beneath the uncertainty of a post pandemic world. The gold and precious metals industry is expected to witness significant growth in the coming period and through similar agreements, we can advance the industry as a whole.\u201d<\/p>\n\n\n\n<p>The 100,000 sq ft precious metals refinery and storage facility is expected to be completed in the last quarter of 2022.<\/p>\n\n\n\n<p>Mike De Vries, Chief Operation Officer, REIT Development, added: \u201cBlockchain technology can enable more transparent and accurate tracking of precious metals, ensuring there is no \u2018dirty gold\u2019 in circulation and illicit trades.\u201d<\/p>\n\n\n\n<p>The facility will create a decentralised immutable record of all transactions, making it possible to track all precious metals that are refined there and eventually sold internationally to over 150 countries, De Vries added. \u201cWe believe that by 2025 every precious metals refinery and storage facility will be in the blockchain, let us lead the way.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DMCC signed a sale and purchase agreement with REIT Development to establish the largest (100,000-sq-ft) precious metals refinery and storage facility across the Gulf Cooperation Council (GCC). It will also be the first refinery to be completely enabled by blockchain in the GCC. The facility will refine and store precious metals including gold, silver, platinum,&hellip;<\/p>\n","protected":false},"author":1,"featured_media":8221,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-8220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DMCC To Launch GCC\u2019s First Blockchain-enabled Precious Metals Refinery By Q4 2022 - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/dmcc-to-launch-gccs-first-blockchain-enabled-precious-metals-refinery-by-q4-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DMCC To Launch GCC\u2019s First Blockchain-enabled Precious Metals Refinery By Q4 2022 - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"DMCC signed a sale and purchase agreement with REIT Development to establish the largest (100,000-sq-ft) precious metals refinery and storage facility across the Gulf Cooperation Council (GCC). It will also be the first refinery to be completely enabled by blockchain in the GCC. The facility will refine and store precious metals including gold, silver, platinum,&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gjepc.org\/solitaire\/dmcc-to-launch-gccs-first-blockchain-enabled-precious-metals-refinery-by-q4-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-22T11:50:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-22T11:50:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2021\/04\/01-banner-12.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\",\"url\":\"https:\/\/gjepc.org\/solitaire\/\",\"name\":\"Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/gjepc.org\/solitaire\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/dmcc-to-launch-gccs-first-blockchain-enabled-precious-metals-refinery-by-q4-2022\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2021\/04\/01-banner-12.jpg\",\"width\":1000,\"height\":500},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/dmcc-to-launch-gccs-first-blockchain-enabled-precious-metals-refinery-by-q4-2022\/#webpage\",\"url\":\"https:\/\/gjepc.org\/solitaire\/dmcc-to-launch-gccs-first-blockchain-enabled-precious-metals-refinery-by-q4-2022\/\",\"name\":\"DMCC To Launch GCC\\u2019s First Blockchain-enabled Precious Metals Refinery By Q4 2022 - Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"isPartOf\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/dmcc-to-launch-gccs-first-blockchain-enabled-precious-metals-refinery-by-q4-2022\/#primaryimage\"},\"datePublished\":\"2021-04-22T11:50:04+00:00\",\"dateModified\":\"2021-04-22T11:50:07+00:00\",\"author\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gjepc.org\/solitaire\/dmcc-to-launch-gccs-first-blockchain-enabled-precious-metals-refinery-by-q4-2022\/\"]}]},{\"@type\":[\"Person\"],\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\",\"name\":\"GJEPC\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f6c5b479a8ec14da0f88385e2b6cd51ccb37ac80c31409ecaebe5524700952a2?s=96&d=mm&r=g\",\"caption\":\"GJEPC\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/8220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/comments?post=8220"}],"version-history":[{"count":1,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/8220\/revisions"}],"predecessor-version":[{"id":8222,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/8220\/revisions\/8222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media\/8221"}],"wp:attachment":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media?parent=8220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/categories?post=8220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/tags?post=8220"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/thb-sponsors?post=8220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}