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Blockchain for Diamond Supply Chain

This document proposes using blockchain technology to improve transparency and security in the diamond supply chain. Key points include: 1) Blockchain could provide an immutable record of diamond ownership and provenance to easily verify origin and prevent smuggling of conflict diamonds. 2) It would reduce the need for manual documentation by providing a centralized digital ledger not dependent on physical paperwork. 3) Having an encrypted record of transactions from mining to retail on a distributed ledger could build more trust in the system and make it easier to distinguish natural diamonds from synthetic ones.

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6 views13 pages

Blockchain for Diamond Supply Chain

This document proposes using blockchain technology to improve transparency and security in the diamond supply chain. Key points include: 1) Blockchain could provide an immutable record of diamond ownership and provenance to easily verify origin and prevent smuggling of conflict diamonds. 2) It would reduce the need for manual documentation by providing a centralized digital ledger not dependent on physical paperwork. 3) Having an encrypted record of transactions from mining to retail on a distributed ledger could build more trust in the system and make it easier to distinguish natural diamonds from synthetic ones.

Uploaded by

gopal gopal
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Diamond Supply Chain using Blockchain

Prepared By
Chintan Golakiya U16CO079
Darshak Sorathiya U16CO090
Rakshit Panchal U16CO103
Dixit Moradiya U16CO108

Guided By
Dr. Sankita J. Patel
Introduction
Application

• Easy verification for the origin of diamonds and its certificates


• Immutable records of ownership of diamonds
• The enhancement in security mechanism
• Fewer efforts by humans are needed to maintain the system
• Easy and sure authentication checking
Motivation
• Easy to Smuggle
• Blood Diamond
• So, KPCS (Kimberly Process Certification System) certify rough diamond as Conflict free
• But this is paper based and no central database
• Synthetic Diamond
• So, GIA Certificate
• Alibaba found fake certificate
Motivation

Blockchain has some tremendous feature


used to solve the diamond supply chain problem
Objectives

• Feel more secure by trust of blockchain


• Have increased transparency
• Eradicate smuggling of diamonds
• Distinguish between synthetic and natural diamond
Blockchain Basics
• Distributed Ledger
• Secrecy
• Authentication
• Consensus – PoW and PoS
• Immutability
Private and Public Blockchain
Open and Close Blockchain
Processes in Diamond Industry

• Exploration and rough diamond classification


• Cutting and polishing
• Quality validation
• GIA certification
Proposed Solution
System Overview
Structure of Block

1. Diamond UID
2. Parent UID
3. Stage
4. Previous Owner
5. Owner
6. Color
7. Clarity
8. Carat
9. Image File Hash
[Link] File Address
[Link]
Conclusion

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