Iranian Journal of Information Processing and Management

Iranian Journal of Information Processing and Management

Revolutionizing Molten Gold Ownership Transfer: Unlocking the Power of Blockchain Technology

Document Type : Original Article

Authors
Motahareh Dehghan 1
Hadis Feizi 2
Sara Houshmand 3
1 Assistant Professor; Department of Industrial & Systems Engineering; Tarbiat Modares University, Tehran
2 Department of Industrial & Systems; Engineering Tarbiat Modares University; Tehran
3 Department of Industrial and Systems Engineering, Tarbiat Modares University, Tehran, Iran
10.22034/jipm.2024.2022763.1550
Abstract
Molten gold ownership transfer holds both historical and economic significance, serving as a crucial aspect of financial and wealth management practices. Traditional systems for transferring ownership of molten gold are often inefficient, susceptible to fraud, and lack transparency. In contrast, blockchain technology, with its decentralized, immutable, and transparent characteristics, presents a promising solution to these challenges. This paper explores the transformative potential of blockchain technology in revolutionizing the transfer of molten gold ownership. Utilizing blockchain for this purpose provides a secure and transparent method to track and verify ownership of gold assets. The proposed model facilitates the creation of digital tokens that represent physical gold, which can then be exchanged on a blockchain platform. By highlighting the transformative potential of blockchain in molten gold ownership transfer, this paper contributes to the ongoing discourse at the intersection of blockchain technology and asset management, paving the way for a more efficient, secure, transparent, and decentralized gold market.
Keywords
Molten Gold
Ownership Transfer
Blockchain Technology
Token
Smart Contracts
Subjects
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  • Receive Date 11 February 2024
  • Revise Date 28 May 2024
  • Accept Date 15 June 2024