BLOCKCHAIN IN DIAMOND SUPPLY CHAIN

Blockchain is a distributed database that maintains a continuously-growing list of recordscalledblockssecured from tampering and revision.Trust and ethics is a problem in thediamond industry. The diamond industry has long faced problems with reporting the origin of adiamond and authenticating its ID and grading. Traditionally documented on paper, but sometimes its still difficult to trace the diamonds true origins and providence. People may ask Where did the diamond come from? Was it blood diamond? Who owns it? Who bought it? Where is it now? Blockchain can be used in diamond industry for tracking diamonds to secure and trace the diamond provenance. The information is stored securely at every step of the process on blockchain-based platform.