Mr. Andrew Parsons of Emergent reports
SPROTT INC. INVESTS IN EMERGENT TECHNOLOGY HOLDINGS
Emergent Technology Holdings LPhas noted a recent equity investment from Sprott Inc.
The investment by Sprott, a global leader in precious metal and real asset investments, comes as Emergent prepares to launch a technology platform for the gold industry.
Emergent's Responsible Gold platform uses blockchain technology to trace the provenance of conflict-free gold from mines to refineries and through to vaults. This gold is the foundation of G-Coin, a digital token backed by responsibly sourced, physical gold.
"Emergent's Responsible Gold platform and G-Coin digital token have the potential to create meaningful value for the gold industry by modernizing and increasing the transparency of the supply chain," said John Ciampaglia, chief executive officer of Sprott Asset Management. "Emergent has earned the confidence of gold producers and other industry participants whose involvement will be critical to the success of the platform. We are pleased to support this very promising technology."
Emergent's Responsible Gold platform is the only blockchain data network that tracks responsibly sourced gold from its origin to vault.Miners, logistics providers, refiners and vaults use Emergent's mobile application to scan smart chips in tamper-proof seals, automatically recording transfer of custody and other data directly on the Responsible Gold blockchain.
"Investors are increasingly focused on environmental, social and governance compliance, and we believe there will be a large and enthusiastic audience for Emergent's Responsible Gold platform," said Andrew Stronach, managing director of Sprott.
"Sprott is a premier resource investor. They have shown early insight in blockchain investments, and we are delighted to be associated with them," said Andrew Parsons, Emergent's chief administrative officer. "Our platform is the first of its kind. It traces responsibly sourced gold from mine to vault and then creates G-Coin tokens, which are digital certificates of title to underlying physical gold that can be used as a currency around the world. We are redefining the future of gold and are looking forward to Sprott's insight."
Emergent's G-Coin tokens will be available for purchase later this year. The digital tokens represent 100-per-centownership of and title to vaulted conflict-free gold.
About Sprott Inc.
Sprott is an alternative asset manager and a global leader in precious metal and real asset investments. The corporation also operates merchant banking and brokerage businesses in both Canada and the United States.
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