Elevating Singapore as one of the most Transparent & Safest Bullion
Trading 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 IBM
Blockchain Platform and targeted at the bullion market supply chain. The platform
aims to promote transparency, authenticity and true ownership of bullion assets
through the use of blockchain technology. The lifecycle of the bullion assets
and related transactions in the supply chain will be tracked on the blockchain,
which �provides assurance to investors, and
mitigates supply chain risk while protecting against issues arising from fraud
and breach of security.

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ElumeGold
(EAU) is the unit of physical gold trades in the digitized supply chain and
each unit represents the ownership of physical gold. EAU is NOT a cryptocurrency. EAUs have
corresponding amounts of physical gold and those are kept in the designated
vault, and gold is redeemable upon requests. The following are the details of
EAU:

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• 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.

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Mr
Hidetaka Namiki, Chief Executive Officer of Bullionist Technology Pte Ld, said:
"The objective of ELUME is to transform the existing eco-system into a
digitalised eco-system.� ELUME will be an
interactive electronic trade matching and record keeping platform to connect
all supply chain members -- refineries, logistics, bullion banks, bullion
dealers etc. under blockchain technology."

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ELUME is unique for the level of integrity and
transparency it offers while preserving privacy of asset ownership and related
trade transactions.
Care is taken to ensure that trades only occur between counter-parties that
have been pre-screened. ELUME uses the IBM Blockchain Platform powered by
Hyperledger Fabric on the IBM Cloud to build the foundation of the digitized
supply chain. In
addition, the platform caters to interactions with supporting digital trading
networks to facilitate atomic exchange of asset ownership between members.

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Mr
Alan Lim, Asia Pacific Practice Leader -- Blockchain Lab Services & Garage,
IBM, said: "The bullion supply chain is very complex and requires integrity, confidentiality
and auditability. Representing real world bullion assets digitally enables them
to be traded easily with reduced friction. Meanwhile, the establishment of a
permissioned network of refineries, storage providers, and bullion dealers is
important to increase trust and transparency in the bullion ecosystem. The IBM
Blockchain Platform delivers unique network capabilities such as enhanced
security and confidentiality, efficient processing, scalability, standard
programming languages and a modular structure that can be customised for
further deployments."

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"ELUME
will improve transparency of the bullion market including true ownership of
gold and traceabililty of all trade details including ownership transfer as
those recorded in the blockchain. All transactions under ELUME platform and
eco-system will be secured including instant transfer of ownership. There will
also be improved settlement procedures. ELUME will revolutionise the bullion
settlement infrastructure. It will also develop new markets such as to
facilitate lending and borrowing for investors against their underlying bullion
assets.� This will help increase market
liquidity," added Mr Namiki.

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

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

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About Bullionist Technology Pte.
Ltd.

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

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BT
was incorporated in Singapore on 17 May 2018.

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For
more information about Bullionist Technology, visit www.elume.io/.

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About IBM Blockchain

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

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For
more information about IBM Blockchain, visit https://www.ibm.com/blockchain/�or
follow us on Twitter at @ibmblockchain.