Everledger is a digital ledger that tracks and protects diamonds and other luxury items. The Everledger team has developed a blockchain platform that uses the Ethereum network to track items on the blockchain.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Everledger provides an immutable record of a diamond’s unique characteristics, including the 4 Cs (carat, cut, clarity, and color), as well as a history of ownership. This information is stored on the Ethereum blockchain, which is publicly accessible.
Everledger’s use of blockchain technology allows for greater transparency in the diamond industry and can help to prevent fraud.
The Everledger team is constantly working to expand the types of items that can be tracked on the blockchain. In addition to diamonds, they are also working on tracking other luxury items such as art and wine.
Everledger’s ultimate goal is to create a global ledger of items that can be used to verify provenance and authenticity.
Everledger’s use of Ethereum has helped to create a more transparent diamond industry. The platform is constantly expanding to track other luxury items, making it a valuable tool for authentication and provenance.