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Everledger launches blockchain platform to digitally certify Kimberly Process export diamonds

Everledger, a blockchain-based immutable ledger for diamond ownership and related transaction history verification, has announced a new platform to digitally certify diamonds traced through the Kimberley Process certification.

According to the official release, the company CEO Leanne Kemp unveiled the new platform during IBM Edge 2016. The technology is built on IBM Bluemix and is delivered via the cloud. IBM’s cloud-based blockchain solution will help the platform to protect against unauthorized access and tampering.

“Working with IBM Blockchain as the backbone of our operations we’ve been able to move faster than anticipated to build a platform that can solve immediate problems being faced by the diamond industry, in addition to unlocking the potential to transform the way we protect commodities being traded in marketplaces globally,” Leanne Kemp, CEO and Founder of Everledger said.

The technology will fight against insider threats, protecting data, and securing entry points and the integrity of network through unique and secure features underpinned by IBM LinuxONE, in order to meet strict security requirements of the diamond industry

The new platform will ensure security and traceability of rough diamonds that are certified through the Kimberley Process. The Kimberley Process is a three-step verification system that was created in 2003 with 81 authorized countries in order to curb the sale of conflict stones.

“As a nascent technology, blockchain holds a great deal of promise in addressing some of the world’s key challenges. Everledger’s dedication to applying Hyperledger Project-based blockchain technology to combat the trade of conflict diamonds shows their commitment to innovating for real impact. The cloud-based high-security business network is helping make their offering ready for business,” Ross A. Mauri, general manager, IBM z Systems and LinuxONE said.

Everledger’s core intent was to build a system fueled by blockchain’s core characteristics – immutability, security, speed and scalability. Everledger has a particular focus on addressing the current supply chain finance concerns faced by critical market regions such as India and Israel and is committed to work within the diamond industry utilizing Kimberley Certificates.

Kimberley Process recently announced the blockchain initiative to prevent global trade of ‘conflict diamonds’.

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