Everledger’s Pioneering Blockchain Work for Diamonds
In Action Summary
Everledger, a London-based blockchain company, has applied blockchain technology to over 1.6mn diamonds effectively creating a digital twin of the object. This established real-time records for diamond suppliers to replace paper-based certification processes with a blockchain ledger.
The service is built on Hyperledger Fabric platform. Everledger’s solution platform is secured by the IBM Blockchain platform which adds an additional layer of security and improves customer trust in a brand and in industry.
Everledger is an independent emerging technology enterprise focused on addressing real-world challenges through solutions which delivering a social, economic and environmental impact
Finally, this effort illustrates another real-world application for blockchain which shows consumers and companies the benefits of using it. Everledger has plans to continue this work and expand this to different industries especially insurance.
For insurance – Everledger seeks to provide a digital record of objects that have been uniquely identified through a forensic approach, establishing the legitimacy of objects, proof of ownership and possession.