Hello,
Diamonds are precious gemstones that have been sought after since earliest times.
The rarity and the scarce supply of diamonds have made diamonds a precious commodity and as such it can be stolen, fall into wrong hands or even disappear at all.
The anonymity of diamonds could end with the new technology of blockchain. This technology shows many promises in business and industry.
A blockchain is the structure of data that represents a financial ledger entry, or a record of a transaction. Each transaction is digitally signed to ensure its authenticity and that no one tampers with it, so the ledger itself and the existing transactions within it are assumed to be of high integrity.
This technology can be used to track diamonds from the mine to retail in order to enhance consumer confidence and public trust.
‘Blockchain is a passport for a diamond like an ID for a person. You can forge a passport but blockchain remains immutable forever’ says Vladislav Reger, CEO of Reger Diamonds, a company that has been trading in diamonds for more than ten years and recently launched an ICO with its unique RDS token.
Unlike other tokens it is backed up by company’s assets in gemstones and is soon to be listed on cryptocurrency exchange.
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