Conflict Minerals: IBM Is Tackling Blood Diamonds with Blockchain

Apr 26, 2018 | Olga Kharif, Bloomberg
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International Business Machines Corp., a group of four gold and diamond industry companies and an independent laboratory are developing a blockchain network for tracing the provenance of finished pieces of jewelry from mine to store. The TrustChain Initiative, which will run on IBM’s technology, includes precious-metals refiner Asahi Refining, U.S. jewelry retailer Helzberg Diamonds, precious-metals supplier LeachGarner, jewelry-maker the Richline Group and verification service UL. Other industry players may join the effort as well, said Jason Kelley, general manager for blockchain services at IBM. Products being tracked through the program should be available to consumers shopping for jewelry by year-end, according to a joint statement Thursday.