The famous saying of “Diamonds are Forever” originated from De Beers Group. De Beers is the world’s largest diamond corporation, specializing in the entire process from exploration to mining and all the way to commercial and industrial manufacturing. With the boom of Blockchain technology, De Beers plans to incorporate that technology into their process of tracking where the diamonds originate from to ensure diamonds with the highest authenticity and purity for their clients.
This process is expected to revolutionize De Beers global diamond industry, leading to an eradication of the tainted image that some media has painted of De Beers dealing with diamonds from conflict zones. With the help of Blockchain technology, the source of the gem can be traced all the way to the first point of origin, to provide a conflict-free digital record. The blockchain system is expected to run similar to that of bitcoin, with a decentralized database.
This technology will have numerous other purposes in various fields such as that of electrical vehicles and mineral research. We can also expect De Beers to heavily market this new technology of theirs and swoop the romantics at heart with their conflict-free, pure diamonds. De Beers are notorious for their marketing campaigns, having created the entire buzz around Valentine’s day and the importance of diamonds in love relationships, so we can foresee Blockchain being their new breakthrough mascot.
— De Beers Group (@debeersgroup) January 16, 2018