MineRP partners with Karuschain, and adopts its proprietary blockchain platform to pave the way for data immutability and traceability in the mining and precious metals industry.
PRESS RELEASE — GIBRALTAR — MineRP, a global leader in mining software and consultations, signed a letter of intent to partner with blockchain platform Karuschain; creating an extensive opportunity for further transparency, and ensuring the secure management, tracing, and tracking of critical data throughout the precious metals supply chain.
MineRP, with over two-hundred employees and five offices on four continents, and existing partnerships with SAP, Deloitte, IBM, and GE, has been closely working behind the scenes with Karuschain‘s executive and technical team to collaborate on an integrated blockchain solution to meet the demands of their large customer base.
Karuschain, founded by former executives with a combined industry experience of more than two-hundred and seventy years from companies such as J.P. Morgan, Shell Oil & Gas, BHP Billiton, AngloGold Ashanti, Intercontinental Exchange (ICE) and Farpoint Metals and Mining, enables end-to-end traceability and tracking for the global precious metals industry.
Modular by design, Karuschain’s blockchain offers versatility that complements and enhances a broad range of existing industry technologies and software systems, therefore, the solutions offered are customizable, scalable and interoperable. By implementing this technology to MineRP’s existing systems Karuschain will enable seamless traceability and audit reports through simple user-friendly dashboards, as well as the tracking of processes with a digital signature all the way from extraction to the final consumer.
This new partnership represents the way in which digitalization is fueling the transformation of the mining and metals industries. In fact, more than $425 billion of value is said to be generated from the digitalization of the mining and metals industry by 2025, the equivalent of a 3-4% increase in industry revenue during the same period, according to a recent analysis conducted by the World Economic Forum.
“I have been involved in some incredible growth businesses in my time, but I have never witnessed the synergy between two companies like this before,” said Richard Verkley, CEO & founder of Karuschain. “This relationship is creating a new-world software solution that truly will become a leading industry force driving dramatic cost benefits, enhanced security, information innovations, and an opportunity for next-generation compliance.”