Gold's Big Challenge
Gold, a cornerstone of global trade and stability, is mined across a spectrum from artisanal operations to large corporations. Yet, its extraction can be physically grueling and environmentally hazardous, particularly in less developed nations. Unregulated gold mining poses significant risks to both people and nature, underscoring the urgent need for standards and oversight.
In the realm of gold's origin, challenges persist. Certifications and initiatives strive to safeguard human rights and decent work conditions in developing countries. However, tracing the provenance of a gold bar purchased from a bank or refinery remains a daunting task due to intricate refining processes that erase its origins.
While solutions like blockchain have been proposed—beginning with the doré bar—comprehensive traceability from mine to refined bar is still elusive.
Gold's complexity extends to its sub-products (outlined below). In artisanal mining, these sub-products intermingle, rendering partial solutions ineffective. Can your "green gold bar" truly be green if its origins are uncertain?
Extracted and surfaced, forming the initial product.
Processed into fine sand without altering its composition.
Phyisically filtered material
Separated based on density, isolating heavier elements.
A condensed, melted form of concentrate, once popular but increasingly rare due to hazards.
GeoBlock's founders have firsthand experience with these sub-products' intricate trade, blending, and exchange. Solutions focusing on select segments of the production chain fall short. Instead, a solution must withstand every processing stage, including amalgamation and melting, ruling out conventional sprays.
Geochemistry emerges as the key. Impurities within a doré bar—such as trace elements—can be analyzed and traced, offering a promising avenue. GeoBlock's approach combines speed, affordability, and objectivity, aiming to navigate gold's intricate journey in the most effective manner available today.