Minobrnauki

Russia’s Ministry of Education Introduces Blockchain-based Diamond Tracking Platform

Russia’s Ministry of Education Introduces Blockchain-based Diamond Tracking Platform

Russia’s Ministry of Education and Science (Minobrnauki) has developed a blockchain-based platform designed to track the authenticity of natural diamonds. The platform has been built by Bitcarat.com, a Russian startup, which uses advanced IT technologies and blockchain to differentiate between natural, synthetic and fake diamonds. It creates unique digital codes for diamonds which is shared with all participants via a distributed ledger that alerts them whenever manipulated.