Setting the Gold Standard! SmartStamp’s Technology Now An Accredited Gold Bar Security Feature
We are thrilled to announce that our advanced imaging technology has been accredited as one of the select few imaging solutions globally to serve as an accredited security standard for authenticating and monitoring gold bars. This recognition positions our tech as a ‘gold standard for gold security’ and is additional validation of this cutting-edge technology to authenticate and identify artworks.
Our sister company and shared technology partner, Dynamic Element, being accredited as a security standard for gold bar authentication is a tremendous honour. This achievement for our group serves as powerful validation of the robust and advanced technology that powers SmartStamp and enables us to authenticate and verify artworks.
Why Are Accredited Gold Bar Security Features Important?
Accredited Gold Bar Security Features are integral to the Gold Bar Integrity (GBI) initiative, ensuring the integrity and transparency of gold throughout the global supply chain. These features act as physical markers that establish identity and verify the authenticity of each gold bar, akin to a bar passport, thus confirming provenance and maintaining a transparent chain of custody.
The market standards and specifications for Security Features were launched by the London Bullion Market Association (LBMA) in 2020, with the associated application process opening in 2021. The LBMA’s expert panel meticulously reviews Security Feature applications to ensure they meet the organization’s rigorous standards.
”This initiative aims to digitally monitor gold moving through the global supply chain by confirming provenance and providing transparency over the chain of custody. Security Features are a physical feature that establish the identity and verify the authenticity of a gold bar, akin to a bar passport, which will ultimately link to the GBI Database.
The market standards or Specifications for Security Features were launched in 2020 by the the London Bullion Market Association (LBMA) and the associated application process opened in 2021. LBMA has a Review Panel of technical experts which review the Security Feature applications and determine if they meet the standards.
London Bullion Market Association
We celebrate this milestone accreditation as a gold security standard as a proof of the reliability, effectiveness, and trustworthiness of our backend technology. As we continue to innovate and expand our presence in the art world, we are enthusiastic about the opportunities that lie ahead.
Stay tuned for further updates as we actively contribute to enhancing security, transparency, and trust in the art world and beyond. Together, we can shape a future where technology revolutionizes authentication and ensures the integrity of precious assets.
Contact us to learn more about our initiatives and find out how you can get involved. And if you’re an artist or gallery, we invite you to get in touch about AIR, our web3 artist-in-residency program and to download and use our iOS and Android apps for free for a limited time!
