Diamond Tracking with Blockchain

Undoubtedly that uses the technology of the block chain, that which was launched by Satoshi Nakamoto in 2009 with Bitcoin; continues to expand into everyday fields that even go unnoticed by many because of the simplicity of the processes.

Now the turn has come to the diamond jewels, assets of great value to many whose concern for legal and reliable origin will not be a problem, thanks to the innovation of Rare Carat an American company that has signed an alliance with Everledger, a Blockchain company; to help users track authentic diamonds, prices and origin.

The new product, known as Rare Caret Report, is completely free and can be used both offline and online. In the official press release, Rare Carat explained that users will only need to enter the diamond number of a GIA (Gemological Institute of America) to make a decision. Details such as price, comparison of offers, color, clarity and history will be provided to the users. The gemologists of Rara Caret will also offer honest comments.

Everledger's pioneering work with its blockchain-enabled platform will provide information on the provenance of the diamond, satisfying a key consumer demand.

Founded in 2015, Everledger obtains and registers high-value assets in a global digital book. The company graduated from Barclays Accelerator 2015 and has successfully tracked 1,000,000 diamonds.

"By enabling greater transparency with digital tracking, consumers can rely on the authenticity and responsible production of the diamond they buy," said Leanne Kemp, founder and CEO of Everledger. "With this, the value of the diamond is also protected and consumers can benefit directly from our emerging technology solution."

Earlier this year, Signet Jewelers, the world's largest diamond retailer, announced that it was joining the blockchain program Tracr.

Tracr is a diamond traceability platform that was developed by the internationally recognized diamond company De Beers Group.

Unlike Rare Caret Report, Tracr plans to trace the origin of diamonds in a blockchain ledger while ensuring that they are not mined by slaves in Africa. The pilot was launched in January 2018: De Beers Group announced in May that it had successfully tracked 100 diamonds from its origin to its retail sale. The Tracr platform will be fully available by the end of this year.