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Blockchain technology is being implemented with greater force in gold mining

August 23, 2020

BRK, a leader in live broadcasting, is joining the mining industry to form an alliance that will oversee and protect the entire gold mining process through to its tokenization.

BRK evolves into a video camera company that is revolutionizing the market. Its Gen 2 product aims to change the way customer experiences are broadcast live, which is why it has caught the attention of the mining sector.

As is well known, precious metal mining is trying to implement blockchain technology. In this industry BRK is responsible for offering more than just cameras. They have a streaming platform that gives you a 360-degree view of what the device is capturing.

Blockchain technology is being implemented with greater force in gold miningBlockchain technology is being implemented with greater force in gold mining

It has the latest technology that enables video recording in real time with excellent resolution. This was the first line of business. They offer this type of cameras for professional athletes to take excellent quality pictures and videos in real time.

The ergonomic design of the devices allows for a very important versatility for the mining sector. The size, video quality, and streaming platform are all part of the characteristics of this project. The association announced by BRK states that two types of cameras are used, the fixed and the micro-body “Iris”..

The declaration states that both chambers will be integrated into the gold mining value chain. Starting with the gold refining process and melting coins to storage in the respective vaults. This process is inserted into the blockchain. A digital token is also created, which is valued and deposited with physical gold.

In this regard, Michael Kovacocy, BRK’s Director of Operations and Infrared Director stated:

“We are pleased to have been selected to meet the urgent needs of the global gold market. We view the industrial applications of our cutting-edge Gen 2 chamber technology as an important growth segment for the future. Funding for the development of specific equipment for mining and larger Subsequent equipment orders are subject to our customer’s initial success, which is set at a milestone of $ 15 million under our agreement. “

Daniel Serruya, CEO of BRK added:

“We are excited to not only enter into our first commercial agreement to place our Gen 2 camera platform on-site, but also to be selected for such an innovative application of our technology. Introducing our technology to the world of Blockchain Verification provides a great opportunity to enter the digitization and content distribution market by stepping into the future that many experts believe is the future of financial instruments and trading. “

This is another distinct use of NFTs. As we expected, the use of non-fungible tokens is increasing. In this case, the tokenization of the gold coins processed by the mining company obviously guarantees the unique character of each piece of gold.

Just as the use of non-fungible tokens has already been implemented in diamond mining, the implementation of blockchain and tokens for these safe harbor facilities is attractive to investors in this sector. It cannot be denied that the characteristics of blockchain technology continue to be a fundamental element in day-to-day implementation. Therefore, the use of the blockchain from exchange tokens in a jurisdiction to the use of tokens to protect intellectual property is integrated into everyday life without being noticed.

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