Scientists develop Blockchain-based method to help verify and trace natural diamonds

Moscow: Scientists have developed a new method based on blockchain technology to help verify and trace natural diamonds, and fully guarantee their authenticity. In a situation where natural, synthetic and fake stones exist in the diamond market, the system could protect the financial assets of market participants, said researchers from the National University of Science and Technology in Russia.
The modern diamond industry is undergoing a period of global restructuring, they said.
This expansion is explained by scientific achievements that are pushing for an increase in diamond volumes for potential applications, both for jewelery and industry.