Tradewind has announced the launch of a new digital gold platform. The financial company said that the new platform will be a combination of VaultChain and world-class exchange technology. This news comes in the wake of an upsurge in interest in VaultChain which is a blockchain application that is tailored to meet the ever-changing needs of users.
For instance, it focuses mainly on remodeling the trading, ownership, settlement, and other processes that are related to physical gold. For many observers, this is a move that will have a huge effect on the markets.
About the Tradewind Blockchain Platform
This platform went live in March 2018. Before going live, it had been touted as the technology that will bring integration into blockchain related processes. It brought together authorized liquidity providers and dealers thus creating one of the most powerful platforms for people in this industry.
Through this integration, most of the challenges that people experienced with technology will be solved. It is something that is designed to make things easier for everyone that is involved, while at the same time making the transactions more secure.
How it works
When gold is registered on the Tradewind platform, it will be vaulted through the Royal Canadian Mint. This is a company that is under the Government of Canada. The role of this company is to facilitate the registration of gold, which is the main operation in this trade.
After registering their investments, the company will have to confirm that it has received the gold, and that it is in the possession. The fact that this is a company that is reputable and works under the government is enough proof that your gold will be safe when you register it with them. In addition to that, there is proper documentation that shows the transfer of gold from one party to another.
The company will work alongside other authorized liquidity providers and dealers. This is in line with the recognition of blockchain as the authorized record when it comes to title ownership. With such an arrangement, physical transfers are verified, and your trust in the company should not be shaken.