Jul 9, 2023·International Research Journal of Modernization in Engineering Technology and Science
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The gold market is currently unorganized, fragmented and suffers from various inefficiencies.Absence of regulated gold transfers may result in lack of transparency, ineffective ownership transfer, increased risk of counterfeiting, security flaws, high transaction costs, and restricted accessibility.The Ethereum blockchain gold registry aims to improve security, streamline the gold trading and ownership processes, and increase transparency by applying distributed ledger technology and smart contracts.Smart contracts facilitate automated settlement and reduce the need for manual intervention, resulting in faster and more streamlined transactions.
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