Grand Pacaraima Gold Corp. announced that the company has acquired Intellectual property (IP) rights to RFID technology (patent pending). The technology involves using RFID tags specifically developed for use in jewelry retail stores to cut inventory management costs and enhances protection from theft. Grand Pacaraima Gold will begin manufacturing unique tags that will be attached to the jewelry items and will track the tagged items' location in the store or warehouse. Store management will be alerted if the item was moved or was not returned to the shelf. Grand Pacaraima Gold has licensed the technology from an Israel-based group that has created the tags and technology.

Each tag contains a unique identification number which, when wirelessly scanned by a small electronic reader, is transmitted to an inventory database that runs on a standard PC in the store or online. Grand Pacaraima Gold is developing a web-based database that will contain detailed information on each piece of jewelry and its picture, enabling an immediate identification of any item. The RFID tags are initially being deployed in Los Angeles jewelry retail stores before the technology is rolled out to the market internationally.

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