Wheaton Precious Metals leverages blockchain to streamline accounting
The platform, which Blockhead Technologies says is the future of mining technology, enables companies to have greater control over their current data.
Wheaton Precious Metals (NYSE: WPM), one of the world’s largest precious metals streaming companies, has hired Blockhead Technologies, a software company that creates blockchain-enabled solutions for the global mining sector.
Wheaton will be leveraging Blockhead’s technology as part of the streamlining of its metal accounting processes. With a market cap of approximately $9.5 billion, Wheaton has streaming agreements relating to 19 operating mines and nine development projects and produced over 680,000 gold equivalent ounces in 2018.
Blockhead’s flagship platform, STAMP, aims to bring secure tracking and source certification into mining value chains. The platform, which the company says is the future of mining technology, enables companies to have greater control over their current data, can integrate with any existing system with a supply chain.
Blockhead implements solutions for simplifying the data management process and provides access to instant data analysis.
Blockhead Technologies has headquarters in Vancouver, Canada, and Perth, Western Australia.