Blockchains Are Forever? Diamond Giant De Beers Unveils DLT Strategy
Blockchains Are Forever?
Cleaver outlined several features which the platform will have, such as privacy controls for both participants and broad access to prospective users.
Diamond picture via Shutterstock
This De Beers is currently moving in this way is perhaps given work in this region by industry startups in addition to international bodies like the United Nations. In September 2016, the group behind the Kimberly Process, an initiative that seeks to keep conflict diamonds out of global markets, stated that it looked to employ blockchain as part of a way.
CEO Bruce Cleaver unveiled the initiative in a blog post published now, writing:
Its chief executive announced today, De Beers, is planning to use the tech in a bid to boost throughout the diamond supply chain. The world’s largest miner of diamonds, the company, states it needs to use the tracking platform to be able to rebuild trust and alleviate concerns over money laundering along with conflict diamonds’ wider trafficking.
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Among the planet’s most well-known diamond companies is becoming into blockchain by investing in an asset tracking platform.
“This diamond traceability platform is underpinned by blockchain engineering, which allows for an extremely secure digital register that makes a tamper-proof and permanent record of connections — in this case, a bead’s route throughout the value chain.”
“In the weeks ahead, we will keep working with leaders from throughout the industry and discuss our progress on you,” Cleaver wrote. “In the process we will no doubt make some mistakes, but we will continue to collaborate, learn and apologize.”
Though Cleaver indicated that the growth process would perform over the coming months and involve input as it seems, the system does not have a firm launch date.