Blockchain technology to help verify natural diamonds

Scientists have developed a new method based on blockchain technology to help verify and trace natural diamonds, and fully guarantee their authenticity. In a situation where natural, synthetic and fake stones exist in the diamond market, the system could protect the financial assets of market participants, said researchers from the National University of Science and Technology in Russia. The modern diamond industry is undergoing a period of global restructuring, they said. This expansion is explained by scientific achievements that are pushing for an increase in diamond volumes for potential applications, both for jewelery and industry. Modern synthetic diamonds are almost as good as natural diamonds in terms of quality and chemical composition. With these trends, gemologists often cannot distinguish a good synthetic diamond from a natural one. Taking into account the growth of the market and the multiple possible diamond origins, the guarantee of authenticity is becoming crucial. A ..

from Markets http://bit.ly/2EhiJTc