Tuesday, March 17, 2015

Bitcoin ledger technology could make the history of precious jewels more transparent



A major jeweler is looking to use electronic ledgers developed by Bitcoin, to history the history of diamond jewelry in a bid to increase the visibility of their stones' history and marijuana out criminals.
Leanne Kemp, an worldwide home at Edgelogix, informed the Financial Times that she is bringing with UK insurance company Aviva to make an on the internet history known as Prevent track to help cops regulators and insurance providers track the history of gemstones such as gemstones.
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"I'm not thrilled about bit money. It's the actual technological innovation that really captivates me Kemp said with regards to how Block trace could help confirm the history of Edgelogix's items on a decentralized on the internet balance sheet - like that used by crypto-currencies such as Bit money.
If the dealings were documented on an on the internet balance sheet program, the company could crack its reliance on third celebration team such as financial institutions to confirm gem dealings, which would instead be available on Prevent trace's open history.
Kemp included that such technological innovation could be used to map electronic balance sheet accreditations onto diamond jewelry.
Last Sept, the financial institution of Britain recognized Bit coin's balance sheet program in its first crypt--currency report: "The program of decentralized technological innovation to this system of electronic information could bear far-reaching implications; other sectors whose items were scanned have been reformed by new technological innovation."

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