"Blockchain Inevitably Will Overcome Us" –-Goldcorp CEO

Blockchain technology will eventually be ubiquitous, like the internet is, and extend its applications from exclusively financial services to general merchandise and services, said David Garofalo, CEO of Goldcorp.“[Blockchain] will drive out transaction costs, and also help track the provenance of our transactions, whether it’s our gold, where it’s being sourced, whether we’re procuring from ethical suppliers,” Garofalo told Kitco News on the sidelines of the BMO Global Metals & Mining Conference. “That’s what blockchain provides is that integrity in the transaction process that currently is not available.”His comments come as Goldcorp has embarked on a program to incorporate the latest technology aimed at improving operational efficiency, such as artificial intelligence and blockchain.On gold prices, Garofalo said that he expects the yellow metal to perform well in today’s current macroeconomic conditions.“Gold is a barometer of [inflation], and in a rising nominal rate environment, inflation is going up as well, real rates go down, and gold does well in that context,” he said. (show less)

Blockchain technology will eventually be ubiquitous, like the internet is, and extend its applications from exclusively financial services to general merchandise and services, said David Garofalo, CEO of Goldcorp.“[Blockchain] will drive out transaction costs, and also help track the provenance of our transactions, whether it’s our gold, where it’s being sourced, whether we’re procuring from ethical suppliers,” Garofalo told Kitco News on the sidelines of the BMO ... (read more)

BMO Conference 2018

BMO Conference 2018
From February 25 to February 28, Kitco News will be bringing you exclusive interviews with analysts, experts, and of course, executives of major gold and silver mining companies. Over the years, BMO Capital Markets have consistently attracted prominent investors, analysts and executives by providing valuable forums to explore strategies, trends and opportunities.

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