Hyderabad-based Goldsikka unveiled world’s first AI-powered Gold Melting ATM, a revolutionary machine that allows users to buy, sell, exchange, lease, digitize, and monetize gold and gold jewellery.
Key Highlights
- Company: Goldsikka
- Location: Telangana, India
- Machine Type: AI-powered Gold Melting ATM
- Status: Concept ready; waiting for regulatory framework approvals to physically launch the machine soon.
Special Features of Gold Melting ATM
- Automated process with zero human interference.
- Services offered: Buy gold, Sell gold, Lease gold, Exchange gold, Monetize gold, Digitize gold.
- Integrated Augmented Reality (AR): Allows customers to virtually try on jewellery before purchasing.
How Machine Works (Gold Selling Process)
- Customer deposits gold into the ATM.
- The ATM melts the gold and tests its purity.
- The machine displays the value of the pure gold.
- Upon customer’s acceptance, the amount is transferred directly to the customer’s bank account.
- Time required: Approx. 30 minutes.
- Security checks:
- Photograph of the depositor,
- Verification of Aadhar card and ID proof.
- Anti-crime feature: If a crime record is linked to the transaction, the ATM holds the gold and automatically informs the police.
Significance
- First-of-its-kind AI and AR integration in gold ATMs globally.
- Enhances convenience, security, and transparency in gold transactions.
- Potential to revolutionize the way people handle physical gold in India.
Background
- Goldsikka launched India’s first real-time Gold ATM in 2022.
- So far, the company has installed:
- 14 Gold ATMs in India (dispensing gold and silver coins),
- 3 Gold ATMs in other countries.