WCT Empowers the Precious Metals Recycling Industry with Source Traceability and Transaction Settlement
The precious metals recycling industry faces issues such as unclear recycling sources and non-transparent transaction prices, which can lead to illegal trading. A certain precious metals recycling company has utilized WCT technology to establish a recycling traceability and transaction system. In the recycling process, detailed records of the source for each batch of precious metals are kept, including information such as the brand and model of waste electronic products, the dismantling location, and purchase receipts for discarded jewelry, all of which are stored on the blockchain. In the transaction process, buyers and sellers settle transactions through WCT, with transaction prices automatically calculated on-chain based on market conditions and the purity of the precious metals. For example, the source information and transaction records for gold recovered from a batch of discarded mobile phones are clear and traceable. After the company implemented WCT, the inflow of illegally sourced precious metals dropped to zero, disputes over transaction prices decreased by 85%, the industry's credibility significantly improved, business volume grew by 45%, and the order of the precious metals recycling market was standardized.
