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Beautiful shiny diamonds on black background

IBM, a multinational technology and consulting company from the United States, announced the launch of 'TrustChain', a platform based on blockchain that will allow the verification of the origin of pieces of jewelry.

The new platform will include a consortium of companies and suppliers associated with the production and distribution service. In this sense, the information provided by the following companies will be available: the precious metal refinery 'Asahi Refining'; the house 'Helzberg Diamonds'; the gemstone distributor 'LeachGarner'; the jewelry manufacturing 'The RichLine Group', as well as other companies and laboratories that will help provide information about the origin of the products.

The objective of this development, according to Jason Kelley - manager of technology and blockchain development - consists of:

We have been working on this innovation for a while now and consider it to be the first to offer a service based on trust to consumers, since it will allow verification of the authenticity of the jewels.

Likewise, Kelley informs that:

If a dispute arises, instead of calling and doing the traditional manual follow-up of the verification process, you will only need to open the TrustChain application and see what happened in a matter of seconds. This subtracts a significant number of steps in the process and eliminates the need to have everything registered on paper.

IBM says that many customers are willing to pay more just to know with certainty that the product of their choice is not of doubtful origin or comes from an exploitation mine.

The company fully recognizes the benefits that distributed accounting technology brings in the trust it can generate for users. Similarly, IBM clarifies that the platform will be supported by a "permit system", by means of which access will be granted to those who are interested in corroborating the information of a product -only scanning the QR code printed on the piece with a mobile device.

This application will be available for the year 2019, although the company has not yet announced a specific date.