- LBMA's Gold Bar Integrity (GBI) initiative will utilize optical AI to authenticate gold bar provenance
- The new security measures come as the precious metals markets face pervasive human rights, environmental, and economic scrutiny
- Alitheon selected to identify and authenticate provenance of gold bars of all sizes to avoid counterfeit or illegally sourced metals
BELLEVUE, Wash., Feb. 1, 2023 /PRNewswire/ -- Alitheon has been recognized by the London Bullion Market Association (LBMA), the world's leading independent standards authority for the global precious metals industry, as one of only five companies to support LBMA's Gold Bar Integrity (GBI) initiative. As the precious metals markets face increasingly pervasive human rights, environmental, and economic threats, the aim of the GBI Initiative is to combat illicit trade and reduce the entrance of fraudulent bars into the global gold supply chain.
Alitheon, the only U.S.-based company to be selected, will identify, authenticate, and trace each individual bar, be it a small minted bar or a large investment-grade cast bar. Its technology solution is used to ensure provenance by irrefutably identifying counterfeited and illegally-sourced precious metals throughout the supply chain.
FeaturePrint® uses a standard off-the-shelf camera or mobile phone to take an image of any object such as a gold bar and other precious metals. Alitheon's machine vision algorithms are then applied to identify and convert various details of the object into a unique digital fingerprint. This digital fingerprint enables irrefutable identification, authentication, and traceability, and mitigates the need to add any sort of visible or invisible markers, tags, or stickers to the bars.
"Alitheon's FeaturePrint technology is easy to implement and even easier for our customers to authenticate our products," said Robin Kolvenbach, Co-CEO at Argor-Heraeus. "Because of this technology, there is no need to add anything else to our bars like stickers or markers."
In addition to authenticating gold and precious metals, Alitheon's patent-protected FeaturePrint is also used for identification, authentication, and track & trace across a range of applications including luxury goods, art and collectibles, computer boards, automotive parts, pharmaceuticals and medical devices, and more. As companies adopt rising corporate social responsibility (CSR) standards, solutions that can guarantee the ethical and legal provenance of gold and precious metals will become increasingly centerfold.
"We applaud LBMA and its members as together we work to secure the world's gold and precious metals reserves and supply chains," said Roei Ganzarski, CEO at Alitheon. "Companies and consumers are used to having data at their fingertips. Now they can be sure the gold bar or gold product they are buying is authentic, ethically sourced, and legal, from a simple photo taken on their phone."
About Alitheon
Alitheon® is a Bellevue, Washington-based leader in advanced optical AI and creator of FeaturePrint®, a patented system that digitizes for items and products, what fingerprints are for people - a one-of-a-kind, unique identifier that does not require you to mark, modify or add anything to the item. Using just a camera, FeaturePrinting enables identification, authentication, and traceability of individual items out of millions of similar objects. The technology stops counterfeits, eliminates gray markets, and minimizes misidentification of parts. FeaturePrint is currently used across precious metals, automotive, pharmaceuticals, aerospace & defense, medical equipment, precious metals, and luxury goods & collectibles.
Media Contact
Mission Control Communications for Alitheon
alitheon@missionc2.com
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View original content:https://www.prnewswire.co.uk/news-releases/london-bullion-market-association-selects-alitheon-to-bring-authentication-and-traceability-to-global-gold-and-precious-metal-markets-301735564.html
