Startup stores diamond IDs in blockchain to prevent against fraud
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Bitcoin's blockchain has already provided the model for a cryptographic digital artwork registry, and now Everledger is using the system to certify and track luxury items — starting with diamonds — and protect owners against fraud. Everledger is a London-based startup that will create immutable, digital records for individual diamonds, as well as their unique attributes and related transaction history. The diamond certification will then be stored in a permanent public ledger, which takes the form of a blockchain, and will be significantly more reliable and secure than the paper certificates and receipts currently used for identification. Everledger will digitize…
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