The diamond industry is working on blockchain - based solutions to address the growing problem of fake and unethically - sourced diamonds in a bid to improve transparency and confidence in the sector . Oxford University spin - out Opsydia has developed a technology for lasering tamper - proof tiny security codes underneath the surface of a diamond , which can be used to authenticate and track diamonds . Opsydia has licensed its laser devices to De Beers , which has developed the proprietary technology to track diamonds . Other blockchain - based initiatives in the industry include Rare Carat , which develops algorithms to predict the price of a diamond .
The diamond industry is working on blockchain-based solutions to combat the growing problem of fake and unethically-sourced diamonds in a bid to improve transparency and confidence in the sector. Oxford University spin-out Opsydia has developed a method for lasering tamper-proof tiny security codes underneath the surface of a diamond, which can be used to authenticate and track diamonds. Opsydia has sold its laser devices to De Beers, which has developed the Tracr platform to track diamonds. Other blockchain-based initiatives in the industry include Rare Carat, which uses algorithms to predict the price of a diamond.