Diamante, “a global diamond consortium powered by blockchain technology,” has positioned itself for the release of an asset that will allow the global diamond trade to streamline their operations into a simplified digital supply chain. Transitioning the diamond industry to blockchain technology should allow for more productive due diligence and record keeping. The blockchain can store data – thus allowing institutions, customers and brokers to identify and vet each participant.

The transparency potential enabled by this move may prove pivotal in diminishing the attractiveness of precious gems as a tool for money laundering and terrorist financing.