Very early stage start-up, Everledger, is using blockchain as a platform for provenance and combating insurance fraud. Starting with diamonds, the plan is to expand across the luxury goods sector, including high end watches, fine art and designer handbags, essentially, any high value item whose provenance might otherwise be reliant on paper certificates and receipts than can easily be lost or tampered with. Diamonds are a global problem, in terms of document tampering and fraud, known to be a $$2 million problem in London.
Very early stage start-up, Everledger, is using blockchain as a platform for provenance and combating insurance fraud. Starting with diamonds, the plan is to expand across the luxury goods sector, including high end watches, fine art and designer handbags, essentially, any high value item whose provenance might otherwise be reliant on paper certificates and receipts than can easily be lost or tampered with. Diamonds are a global problem, in terms of document tampering and fraud, known to be a $2bn problem in London.