"A Diamond is Forever" came from a TV commercial in 1947 and lived on as a symbol of love and romance for nearly 70 years, where diamonds became a testimony of eternity and vows.
From exploration mining, cutting and polishing to reaching the hands of consumers eventually, the details of each process must be meticulous and involves cumbersome hand skills in order to make each diamond shine brightly under natural light. Coal mines withstand intense pressure for tens of thousands of years in order to produce diamonds. At present, diamonds are extremely rare, and can only be mined in countries such as South Africa or Russia, making it rather valuable. Diamonds are extremely attractive to most people, and is a symbol of power, status and wealth.
The diamond industry is a specialized field with extremely strict technical requirements and the field also involves precious metals, mining, jewelry, and precious gemstones. The target group is composed of upper class and elites. There are often many issues with illegal diamonds, blood diamonds, insurance fraud, and counterfeits in the complicated diamond trading process.
Technology, a company which specializes in programming and system construction, mentioned in a recent interview with the Financial Times: Six Linx Technology integrates its own blockchain technology with the diamond industry to launch an innovative business model - Diamond Blockchain(DMC), which will create a more transparent and wider circulation trading platform for the entire diamond industry.
All members whether upstream, downstream or consumers, can quickly share large amount of resources through the diamond blockchain, while purchasing luxurious high-end diamond products and enjoy security and transparency in this diamond block chain.
Due to the decentralization, information will not be tampered with and becomes transparent. Each and every process of the diamonds from mining, transaction to circulation can be stored in the blockchain enabling the quality of the data, thereby endorsing it with unwavering trust. It also ensures the accuracy of data analysis and the effect of data mining, which greatly enhances the circulation value of diamonds.
Blockchain technology will records the shape, size, clarity and proof of origin of each diamond. The buyer can track the origin of each diamond and avoid buying items such as “Blood Diamond” and “Smuggled Diamonds” that are involved in illegal transactions and will raise financial disputes.
Diamonds and blockchains, one of which is a class of precious gemstones that own a great demand while the other is a high-end technology that the world is paying attention to. Here at Six Linx Technology, we take the bold step to bridge this two. Through our collaboration with MasterCard payment system, Six Linx Technology will create a unique consumption model and we are very much looking forward to the spark of the two brought together by Six Linx Technology!
