Diamond Trading: Next Industry Optimized by Blockchain Technology? – The Cointelegraph

Several industries have been experiencing optimization and much more enhanced operations with the use of Blockchain technology.

The same technology that powers Bitcoin and other cryptocurrencies is now being utilized in various industries including healthcare, government operations, supply chain, entertainment, among others.

Blockchain enhances diamond trading
The latest industry being revolutionized by Blockchain is diamond trading.

Nearing the completion of the first phase of a proof-of-concept of a Blockchain-based authentication and safe record-keeping diamond trading service, Singapore Diamond Investment Exchange (SDiX) aims to secure their operations with the aid of Blockchain. In collaboration with physical commodity digitization experts Kynetix and Everledger, SDiX aims to establish itself as a trusted and transparent marketplace for diamond trading as an investable asset.

Singapore Diamond Investment Exchange CEO Linus Koh says:

“This exciting collaboration builds on SDiX’s record of delivering advanced technologies to enable a trusted, fair and transparent marketplace for trading diamonds as an investable asset class. This new concept draws on blockchain’s distributed ledger capability to demonstrate how we can further instill confidence and convenience for the benefit of diamond investors and financiers.”

More at: Diamond Trading: Next Industry Optimized by Blockchain Technology? – The Cointelegraph


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