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-London Bullion Market Association selects Alitheon to bring authentication and traceability to global gold and precious metals markets
BELLEVUE, Wash., Feb. 1, 2023/PRNewswire/ -- Alitheon has been recognized by the London Bullion Market Association (LBMA), the leading independent global standards authority for the global precious metals industry, as one of the only five companies that support the LBMA's Gold Bar Integrity (GBI) initiative. As precious metals markets face increasingly widespread human rights, environmental and economic threats, the goal of the GBI initiative is to combat illicit trade and reduce the entry of fraudulent bullion into the global chain of gold supply.
Alitheon, the only US company selected, will identify, authenticate and trace each individual bar, whether it is a small minted bar or a large cast bar of investment value. Its technology solution is used to ensure provenance by irrefutably identifying counterfeit and illegally sourced precious metals throughout the supply chain.
FeaturePrint® uses a standard camera or mobile phone to take an image of any object, such as gold bars and other precious metals. Alitheon's machine vision algorithms are then applied to identify and convert various details of the object into a unique fingerprint. This fingerprint enables irrefutable identification, authentication and traceability, and mitigates the need to add any visible or invisible markers, labels 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, Joint CEO of Argor-Heraeus. "Thanks to this technology, there is no need to add anything else to our bars, such as stickers or markers."
In addition to authenticating gold and precious metals, Alitheon's patent-protected FeaturePrint technology is also used for identification, authentication and tracking in a wide range of applications including luxury goods, art and collectibles, computer boards, cars, pharmaceuticals and medical devices, among others. As companies adopt ever higher corporate social responsibility (CSR) standards, solutions that can ensure the ethical and legal provenance of gold and precious metals will become increasingly important.
"We applaud the LBMA and its members as we work together to secure the world's gold and precious metals reserves and supply chains," said Roei Ganzarski, CEO of Alitheon. "Businesses and consumers are used to having data at their fingertips. Now they can be sure that the gold bar or gold product they are buying is authentic, ethically sourced and legal, from a simple photo taken with your phone.
About Alitheon
Alitheon® is a Bellevue, Washington-based company, a leader in advanced optical AI, and creator of FeaturePrint®, a proprietary system that digitizes to items and products what fingerprints do to people: a unique, unrepeatable identifier that doesn't require mark, modify or add anything to the article. Using just one camera, FeaturePrinting enables the identification, authentication and traceability of individual items among millions of similar objects. This technology stops counterfeits, eliminates gray markets and minimizes part misidentification. FeaturePrint is currently used in the precious metals, automotive, pharmaceutical, aerospace and defense, medical equipment, precious metals, and luxury and collectibles industries.
Contact for mediosMission Control Communications for Alitheonalitheon@missionc2.com
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