Wheaton Precious Metals (WPM) company, that works with valuable metals, has announced about the plans to introduce blockchain system for supplies accounting – investment resource has got to know.
Interesting, that WPM hired Blockhead Technologies company to develop this new system. It will be based on blockchain platform STAMP and will allow tracking valuable metals and issuing certificates for them.
By the way, blockchain is already applied for tracking valuable metals. So, recently one of the largest global automakers Volkswagen has informed about joining to blockchain platform for tracking cobalt supply.
Besides, recently London Metal Exchange (LME) – the leading world exchange, specialized on non-ferrous metals trade – has supported the initiative to track trade in copper, zinc and aluminium using the blockchain.