The Evolution of Diamonds and Blockchain Technology

ZhongAn insurance, a net specialty insurance company in China. Its subsidiary company, ZhongAn Information and Technology Services Co., Ltd announced blockchain software for tracking jewelry on 7th of August. The movement to multiply diamonds and block chains is also seen in De Beers.


What is the ZhongAn insurance’s Block Chain Software?

The system that tracks diamonds in the block chain is also a system for De Beers.

Pure diamond coin project specialized in lab grown diamonds

What is the ZhongAn insurance’s Block Chain Software?

ZhongAn insurance has already recorded 760,000 diamond data in its block chain. This software will be built on its own block chain network and will be deployed to diamond-related people such as diamond sellers, processing companies and exchanges.

According to ZhongAn insurance, the final goal of this block chain software is to keep track of information from manufacturing to reaching consumers and aim to provide a highly transparent ledger over a distributed network. This system can also be used in parallel with conventional certificates such as GIA, and any individual information can be viewed by entering a certificate number.

The system that tracks diamonds in the block chain is also a system for De Beers.

In fact, De Beers, the world's largest company in the diamond industry, is also focusing on developing a system to track diamonds with a block chain. In May of this year, it was also announced that it had used blockchain technology to track down 100 expensive diamonds from the mining site to the retailers. According to the company, this is the first time it has been successful in digitally tracking from mining sites to the retailers.

In addition, De Beers is planning to start operating its own new platform "Tracr" and open it to the whole industry, by the end of this fiscal year. This series of movements of De Beers is thought to prove to customers that De Beers' goods are not conflict diamonds.

Pure diamond coin project specialized in lab grown diamonds

Now, the pure diamond coin project does not differ from the ZhongAn insurance or De Beers in that it pursues diamonds with the block chain. However, the big difference is that in the pure diamond coin project, the diamonds to be tracked is specialized for lab grown diamonds (patent pending).

Since lab grown diamonds are generated at the factory, so you can check the "accurate date of generation" which cannot be known with natural diamonds born deep underground. Therefore, it will be able to present the diamonds that were generated on the same day as the recipients. Like girlfriend or newborn child. Thus, by introducing a block chain into a lab grown diamond, the value of "story" was added to the lab grown diamond of the Pure Diamond Coin Project. Incidentally,

that individual information such as date of creation can be easily confirmed by yourself by using the application.

In the future, companies will continue to focus on developing systems that multiplied diamonds and block chains. In particular, attention should be paid to the trends of the pure diamond coin project which effectively utilizes the block chain.