KILOBAR KILOBAR KILOBAR INTEGRITY KILOBAR KILOBAR KILOBAR KILOBAR INTEGRITY KILOBAR INTEGRITY INTEGRITY INTEGRITY INTEGRITY INTEGRITY INTEGRITY Blockchain & Security Ruth Crowell, Chief Executive Asia Pacific Precious Metals Conference, Singapore 4 June 2018
AGENDA AGENDA AGENDA AGENDA CASE FOR CHANGE CASE FOR CHANGE CASE FOR CHANGE CASE FOR CHANGE KILOBAR KILOBAR WORK TO DATE KILOBAR KILOBAR WORK TO DATE WORK TO DATE WORK TO DATE BAR INTEGRITY RFP BAR INTEGRITY RFP BAR INTEGRITY RFP BAR INTEGRITY RFP KILOBAR GOOD DELIVERY LIST KILOBAR GOOD DELIVERY LIST KILOBAR GOOD DELIVERY LIST KILOBAR GOOD DELIVERY LIST
LBMA LBMA KILOBAR KILOBAR WORK TO DATE WORK TO DATE LBMA LBMA KILOBAR KILOBAR WORK TO DATE WORK TO DATE Key Achievements LBMA specifications for 999.9 kilobars – launched with SGE in 2015 LBMA specifications for 995 & 999 kilobars kilobars Secure online database of kilobar drawings & photos for all GDL refiners Monitoring of purity & fraud issues reported by market
LBMA LBMA KILOBAR KILOBAR LIST LIST LBMA LBMA KILOBAR KILOBAR LIST LIST Supporting market growth in Asia Subset of LBMA Good Delivery refiners, determined with exchanges Collaboration with Exchanges to ensure Collaboration with Exchanges to ensure global application global application Enhanced online database of kilobar drawings, photos and Continued monitoring of purity & fraud serial numbers issues reported by market
LBMA INTELLIGENCE LBMA INTELLIGENCE LBMA INTELLIGENCE LBMA INTELLIGENCE Building Efficiency & Trust Demand for granular Demand for granular Fraud issues Fraud issues Reputational issues Reputational issues supply chain supply chain surrounding kilobars surrounding kilobars regarding global gold information which is market easy to collect & verify
GOLD BAR INTEGRITY GOLD BAR INTEGRITY GOLD BAR INTEGRITY GOLD BAR INTEGRITY Blockchain & the Supply Chain Request for Proposal (RFP) to further Request for Proposal (RFP) Request for Proposal (RFP) Request for Proposal (RFP) further further further strengthen gold supply chain integrity strengthen gold supply chain integrity strengthen gold supply chain integrity strengthen gold supply chain integrity In addition, it will also look at m m m mi i i in n n ni im i i mi m m i i is s s si in i i n ng n g g g t t th t he h h e e e r r r ri is i i s s sk k k ks s s s a as a a ss s s s s so o o oc c c ci ia i i a at a t t te e ed e d d d w w w wi i i it t t th h h h f f fr f r ra r au a a u ud u d d d a a a an nd n n d d d b b br b re r r ea e e a a ac c c ch h h he es e e s s s o o o of f f f This initiative builds on the LBMA’s Responsible This initiative builds on the LBMA’s Responsible security. security. security. security. security. security. security. security. Sourcing programme and focuses on how focuses on how focuses on how focuses on how blockchain can ensure supply chain provenance blockchain can ensure supply chain provenance blockchain can ensure supply chain provenance blockchain can ensure supply chain provenance Phase One will focus on gold kilobars gold kilobars gold kilobars gold kilobars
REQUEST FOR PROPOSAL REQUEST FOR PROPOSAL - REQUEST FOR PROPOSAL REQUEST FOR PROPOSAL - - - GOLD BAR INTEGRITY GOLD BAR INTEGRITY GOLD BAR INTEGRITY GOLD BAR INTEGRITY Timeline March 2018 March 2018 March 2018 March 2018 Stage 1 RfP Launched 31 May 2018 31 May 2018 Deadline for Stage 1 RfP 31 May 2018 31 May 2018 June June June June - - - - September 2018 September 2018 September 2018 September 2018 Bilateral discussions with Service Providers Draft Stage 2 of RfP Shortlist Service Providers to take part in stage 2 Shortlist Service Providers to take part in stage 2 October 2018 October 2018 October 2018 October 2018 Launch Stage 2 RfP December 2018 December 2018 Deadline for Stage 2 RfP December December 2018 2018 January January January - January - - - March 2019 March 2019 March 2019 March 2019 Bilateral negotiations Seminar on short list Heads of Terms discussions March March March March - - April 2019 - - April 2019 April 2019 April 2019 Decision! Decision! Decision! Decision!
OPEN DISCUSSION OPEN DISCUSSION OPEN DISCUSSION OPEN DISCUSSION Questions? Comments?
A DATE FOR YOUR DIARIES! A DATE FOR YOUR DIARIES! A DATE FOR YOUR DIARIES! A DATE FOR YOUR DIARIES! LBMA Precious Metals Conference LBMA Precious Metals Conference LBMA Precious Metals Conference LBMA Precious Metals Conference Boston Park Plaza, Boston Boston Park Plaza Boston Park Plaza Boston Park Plaza , Boston , Boston , Boston 28- 28 28 28 -30 October 2018 - - 30 October 2018 30 October 2018 30 October 2018
RUTH.CROWELL@LBMA.ORG.UK RUTH.CROWELL@LBMA.ORG.UK RUTH.CROWELL@LBMA.ORG.UK RUTH.CROWELL@LBMA.ORG.UK RUTH.CROWELL@LBMA.ORG.UK RUTH.CROWELL@LBMA.ORG.UK RUTH.CROWELL@LBMA.ORG.UK RUTH.CROWELL@LBMA.ORG.UK www.lbma.org.uk
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