Greetings!What do you want to gain with your project?
Today there are more than 60,000 tonnes of gold from the earth extracted, half of which finds its way into the pockets and accounts of “ordinary” people. Our idea is no short of revolutionary: we plan to convert this gold into blockchain-encrypted tokens to help owners protect their valuables, to help investors move their gold can more rapidly and easily from one part of the world to another, and to help companies and individuals hedge their gold against market volatility.
We plan to move in three stages:
To gain access to 1% of global gold circulation (over 300 tonnes) by launching Custody Bot automated storage facilities in pawnshops around the world.
To gain access to another 5% of gold circulation by introducing Custody Bot to shopping centers.
To gradually gain access to a final 10% of gold reserves, worth more than $100 billion, and to develop a special version of Custody Bot for popular installation.
How Custody Bot will be linked to a blockchain?
The Airalab Core platform links Custody Bot to the blockchain.
We are consulting with them because they have a huge expirience about connecting various bots to blockchain
How Custody Bot analyse the value of gold?
Gold inspection includes:
● Visual identification of the product by an operator – coin, ingot, jewelry, raw gold or gold granules
● Evaluation via spectrography using the spectrograph installed within the box
● Evaluation and weighing of gold via hydrostatic weighing
Custody Bot uses the technologies of spectral analysis and hydrostatic weighing to inspect the value of the gold. In the absence of a single standard, a specialist also manually inspects the jewelry before Custody Bot conducts spectral analysis.
Spectral analysis: the process:
Custody Bot uses fluorescence spectroscopy, a type of electromagnetic spectroscopy that analyzes fluorescence from a sample. This technique involves using a beam of light, usually ultraviolet light, that excites the electrons in molecules of certain compounds and causes them to emit light. An analyzer crystal disperses radiation onto the gold via a detector. A computer-controlled precision goniometer moves the analyzer crystal and detector and controls the position, intensity and lengths of secondary radiation waves. Concentration of the analysis is calculated by comparison with known standard samples.
Hydrostatic weighing: the process:
Hydrostatic weighing determines the density of the gold and is done by weighting the item first in air then liquid and calculating the combined private density (ρ2). Estimation of density is made by contrasting the density of gold to densities of other metals.
The initial weighting lets define the valuable’s weight (m1) and the second one lets detemine the volume: V=(m1-m2)/ρ2.
With regards,
team GOLDMINT
