Our blockchain ledger provides users with many benefits, including increased safety due to the universal use of multi-signature transactions. Developers, businesses and researchers can now access, evaluate, test and build on the blockchain by downloading our open-source node software, Prova.
Below are some FAQ’s to answer your blockchain specific questions
BitGo are a blockchain security company that has been working with CME Group to develop the architecture, rules and parameters of the blockchain. For more information visit the BitGo website, here.
Developers, businesses and researchers can now access, evaluate and test the code by visiting here.
Yes, we have created an open source system where anyone can participate in the development of tools and code.
Everyone is free to view the blockchain. A publicly viewable blockchain means anyone may check that the total amount of RMG in issue is in line with the audited, RMG vault holdings. Real world identities however are not public. Transactions on the blockchain are sent between blockchain ‘addresses’ (long strings of random numbers) and are at the discretion of the RMG holder whether to declare their own addresses publicly or not. The blockchain may be viewed through the public RMG BlockExplorer website www.provachain.com, by downloading and running your own full node here, or, by applying to The Royal Mint to become a validating partner here.
Prova™ is an open-source distributed ledger for trading a commodity or digitised asset. It combines the transparent ownership, reduced costs and global access of blockchain with the governance and safety-rails required by financial institutions and investors.
The initial launch of RMG will include a select number of institutions in a closed, permissioned network. Fraud and theft mitigation: All institutions will be known within the network and formal KYC/AML procedures will be in place. The Royal Mint has sole authority to revoke access to any “bad actors”. Hacker mitigation: Details on specific security protection and safeguards will be provided in due course. CME Group, alongside security teams, will ensure the latest, most secure implementation is developed, tested, and audited on an ongoing basis.
If you’d like to find out more about RMG, please do get in touch.Contact us