On Monday
China Securities Network reported that Zhong An Technology launched a joint venture to track the provenance of diamonds. The platform is called
DiamsLedger and the partner, Shanghai Qingyi Technology, runs the Ediams.com B2B diamond trading platform. Zhong An Technology is a wholly owned subsidiary of Zhong An Insurance.
The Ediams CEO said that as of mid-July 760,000 diamonds were on the blockchain.
Most diamonds on the Ediams platform are certified. The certification is often from the Gemological Institute of America (GIA) or China’s state-owned National Gemstone Testing Center (NGTC). So the blockchain solution involves creating an electronic id that links to the GIA or NGTC certificates. Certificates are sometimes referred to as the fifth ‘C’ for diamonds. The gems are known for their 4C traits: carat, cut, color, and clarity.
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