Blockchains are forever: DLT makes diamond industry more transparent
Blockchain integration into any sector has proven to be a fitting move, and the diamond industry’s interest in this technology will without doubt be instrumental in its improvement. Diamonds are some of the world’s most valued gemstones, and the global diamond industry has managed to remain afloat despite being partially eclipsed by the emergence of modern stocks and novel virtual assets.The diamond industry, however, appears to be undergoing a paradigm shift in recent times — incorporating modern technology such as blockchain to improve diamond production, tracking and ultimate sales.....
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The origin of the carbonade diamond has baffled scientists for years, as it contains some of the precious metals only found in meteorites. A 555-carat diamond with mysterious origins estimated to be billion years old has been sold for $4.5 million in cryptocurrency at a Sotheby's auction.The diamond has baffled geologists over its origin, where it’s still not clear whether it came from outer space or was crystallized in the earth’s mantle. The diamond is characterized by its opaque black appearance with full of visible holes. The carbonade diamond is available in only two regions on the....
De Beers has launched its long-awaited blockchain-powered Tracr platform to track and manage diamond production. Global diamond mining firm De Beers has launched a proprietary blockchain-powered platform to manage its diamond production and distribution.The firm has long been at work on a blockchain system to trace, record and manage its diamond mining, production and distribution across the globe. The Tracr platform was first piloted and tested back in 2018, and the company has finally released the platform at scale to serve the wider diamond mining industry.De Beers has already....
De Beers, one of the leading diamond-producing companies globally, recently announced the deployment of its blockchain-based diamond source platform at scale. The platform will “enable the provision of provenance information from source to Sightholder to store on a secure blockchain.”
Immutable Record of a Diamond’s Provenance
One of the world’s top diamond miners, De Beers, recently said it had deployed a blockchain-based diamond source platform at scale. The platform, which is known as Tracr, gives the so-called sightholders the ability “to....
A massive diamond just sold on Sotheby’s for a whole lot of crypto. Art and jewelry brokerage Sotheby’s put a 101.38 carat diamond up for auction, fetching over $10 million in crypto for the rock on July 9. The diamond “sold for $12.3 million to an anonymous buyer last Friday at Sotheby’s Hong Kong,” MarketWatch reported on Monday. “It’s the most expensive gem ever purchased with cryptocurrency, according to Sotheby’s,” MarketWatch added. News of the crypto-friendly diamond auction surfaced in the latter half of June, with estimates forecasting the diamond to hit prices somewhere in the....
More proof that Bitcoin is here to stay: following Microsoft, Dell, and Time Inc, jewelry e-commerce retailer iDIAMONDS is now accepting Bitcoin for diamonds and diamond jewelry. Established online retailer iDIAMONDS.com has caught the Bitcoin bug! The New York City-based company has decided it wants to take the diamond industry out of its old-fashioned ways and push it into the future by allowing anyone to exchange bitcoins for diamonds. iDIAMONDS has partnered with Bitcoin payment processor BitPay to make this all possible. Also read: Magazine Publisher Time Inc. Partners With Coinbase....