IBM announced the creation of a blockchain platform TrustChain, which will allow mining companies to track the supply chain of diamonds and gold. About it reports Reuters.
The project includes Berkshire Hathaway Richline Group, Asahi Refining, LeachGarner, Helzberg Diamonds and service provider in the field of safety engineering UL. According to the developers, the blockchain technology will allow these companies to preclude hacking and data tampering.
“So, the buyer of the ring in the network of jewelry stores Helzberg Diamonds will be able to know in what country and on what the Deposit was mined precious metals and stones, on which plants were processed and how they got into the store,” said IBM.
General Manager of the blockchain services IBM Jason Kelly added that the transparency of the platform will increase consumer confidence that the product since the production is not faced with the “dirty areas”, such as corruption, financing of terrorism, trafficking and other human rights violations.
It is expected that the tracking service will be available at the end of 2018.
Earlier, in April, founded by IBM and banking giant UBS financial trading blockchain platform Batavia held its first real transaction for corporate clients.