The exchange is working with Kynetix, which develops blockchain-powered commodity marketplaces, and Everledger, which uses the tech to track the trade of diamonds, to authenticate a proof-of-concept aimed at creating verifiable trails for precious stones.
According to a press release for CoinDesk, the concept is designed to enable holders of diamonds with certificates from a verification laboratory to authenticate the ownership and authenticity of the diamonds using a distributed ledger. Changes of diamond ownership on SDiX will be updated on the ledger, creating a digital record for market participants.
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