What happens to a batch, step by step.
Behind each sale sit four things: the price and the payment, moving the gold, the records, and the accounts of everyone involved. Here is how each one works today.
Four parts, one record
What runs today, and what is still coming.
Prices and payments
Prices start from one reference price tied to the world gold price. Groups, members and buyers each have a wallet on a double-entry ledger, and buyers can pay by M-Pesa prompt, paybill or bank transfer. Members will be paid to their verified M-Pesa number when payouts start with the pilot. Escrow for trades on the exchange is coming.
See today's reference priceMoving gold
Gold held in our inventory moves through recorded handoffs, and both the sender and the receiver confirm each one. Accredited custody and courier companies do this work.
Apply as a service providerRecords
Each lot keeps its batch ID on every document. Every licence, certificate, warrant and permit has a registry number with a check digit and a QR code that anyone can check.
Check a documentAccounts
Groups, buyers, service providers and Department officers each see what their role needs, and they all work from the same records.
What is coming
We are adding listings and offers on the exchange, escrow settlement, warrants issued by refiners and a directory of licensed agents with their fees. M-Pesa payouts start with the pilot.
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