Elevating Singapore as one of the most Transparent & Safest BullionTrading and Storage Hubs in the World

SINGAPORE - Media OutReach - 12 November 2018 - Bullionist Technology (a Singapore fintech company)announced that it has developed "ELUME," a digital platform on the IBMBlockchain Platform and targeted at the bullion market supply chain. The platformaims to promote transparency, authenticity and true ownership of bullion assetsthrough the use of blockchain technology. The lifecycle of the bullion assetsand related transactions in the supply chain will be tracked on the blockchain,which  provides assurance to investors, andmitigates supply chain risk while protecting against issues arising from fraudand breach of security.

ElumeGold(EAU) is the unit of physical gold trades in the digitized supply chain andeach unit represents the ownership of physical gold. EAU is NOT a cryptocurrency. EAUs havecorresponding amounts of physical gold and those are kept in the designatedvault, and gold is redeemable upon requests. The following are the details ofEAU:

• 1 EAU represents 1 gram of the London Bullion Market Association (LBMA) accredited refinery's 999.9 gold.
• 1 EAU can be broken down into a minimum of 0.001 EAU.
• EAU prices are quoted in USD per 1 EAU.
• All the trade information including ownership transfer will be recorded on the distributed ledger.
• The corresponding amount of physical gold bars will be kept in the authorized vault and audited regularly.
• 1000 EAUs are redeemable to 1 kg physical gold.

MrHidetaka Namiki, Chief Executive Officer of Bullionist Technology Pte Ld, said:"The objective of ELUME is to transform the existing eco-system into adigitalised eco-system.  ELUME will be aninteractive electronic trade matching and record keeping platform to connectall supply chain members -- refineries, logistics, bullion banks, bulliondealers etc. under blockchain technology."

ELUME is unique for the level of integrity andtransparency it offers while preserving privacy of asset ownership and relatedtrade transactions.Care is taken to ensure that trades only occur between counter-parties thathave been pre-screened. ELUME uses the IBM Blockchain Platform powered byHyperledger Fabric on the IBM Cloud to build the foundation of the digitizedsupply chain. Inaddition, the platform caters to interactions with supporting digital tradingnetworks to facilitate atomic exchange of asset ownership between members.

MrAlan Lim, Asia Pacific Practice Leader -- Blockchain Lab Services & Garage,IBM, said: "The bullion supply chain is very complex and requires integrity, confidentialityand auditability. Representing real world bullion assets digitally enables themto be traded easily with reduced friction. Meanwhile, the establishment of apermissioned network of refineries, storage providers, and bullion dealers isimportant to increase trust and transparency in the bullion ecosystem. The IBMBlockchain Platform delivers unique network capabilities such as enhancedsecurity and confidentiality, efficient processing, scalability, standardprogramming languages and a modular structure that can be customised forfurther deployments."

"ELUMEwill improve transparency of the bullion market including true ownership ofgold and traceabililty of all trade details including ownership transfer asthose recorded in the blockchain. All transactions under ELUME platform andeco-system will be secured including instant transfer of ownership. There willalso be improved settlement procedures. ELUME will revolutionise the bullionsettlement infrastructure. It will also develop new markets such as tofacilitate lending and borrowing for investors against their underlying bullionassets.  This will help increase marketliquidity," added Mr Namiki.

ELUME will facilitate stronger digitalcollaboration across the multiple parties involved in the bullion supply chain,improve the efficiency of transactions, and promote transparency amongparticipants. Furthermore,it is envisioned that the platform will support regulated financialinstitutions as well as regulators such as Customs or other government agencieswith anti-money laundering, counter-terrorist financing and cross-bordercommercial crimes prevention initiatives. This will increase investors'confidence and bolster Singapore as a precious metal trading hub.

ELUME has the support of the industry players such as MetalorTechnologies Singapore Pte Ltd (gold refinery), Loomis International(specialist for international valuables logistics). The following companieshave also come forward to support the platform -- Aurora Precious MetalInternational Pte Ltd, CIT Coin Invest AG, Besure Pte Ltd, Bin Bin GoldsmithPte Ltd, BullionCafe, Coininvest GMBH, Global Bullion Suppliers, Jin Sing LiTrading Pte Ltd, LH Precious Metal Investment Pte Ltd, Nadir Metal RafineriSan. ve Tic A.S, NumisCollect, Ingot Investments Pte Ltd, Siong Hin Jewellery& Handicraft, SK Bullion Pte Ltd and UPP Enterprise Pte Ltd.

About Bullionist Technology Pte.Ltd.

Bullionist Technology Pte. Ltd.("BT") is a fintech company that focuses on digitizing of the bullion supplychain using blockchain technology to manage the supply chain risk, and topromote transparency, authenticity and true ownership of bullion assets.  BT provides integral services related to thebullion supply chain, such as precious metals trade matching and record keeping(through the "ELUME" platform) which is carefully structured among BT, IBM andthe interested leading industry participants such as Metalor TechnologiesSingapore Pte. Ltd., Loomis International Singapore andthe bullion eco-system which includes but is not limited to bullion banks,wholesalers and dealers. Through the ELUME platform, these companies and allother market participants including investors can be assured of transparencyand integrity using secured blockchain data.

BTwas incorporated in Singapore on 17 May 2018.

Formore information about Bullionist Technology, visit www.elume.io/.

About IBM Blockchain

IBMis recognised as the leading enterprise blockchain provider.The company's research, technical and business experts have broken barriers intransaction processing speeds, developed the most advanced cryptography tosecure transactions, and are contributing millions of lines of open source codeto advance blockchain for businesses. IBM is the leader in open-sourceblockchain solutions built for the enterprise. Since 2016, IBM has worked withhundreds of clients across financial services, supply chain, government,retail, digital rights management and healthcare to implement blockchainapplications, and operates a number of networks running live and in production.The cloud-based IBM Blockchain Platform delivers the end-to-end capabilitiesthat clients need to quickly activate and successfully develop, operate, governand secure their own business networks. IBM is an early member of Hyperledger,an open source collaborative effort created to advance cross-industryblockchain technologies.

Formore information about IBM Blockchain, visit https://www.ibm.com/blockchain/ orfollow us on Twitter at @ibmblockchain.