Solving diamond verification with blockchain powered certification
Diamond certification in the digital age
To be absolutely sure of the quality of the diamond you have before you has been a challenge from the very beginnings of the diamond industry. It can have a questionable provenance, it may be fake or even artificial. Many people have had their misfortunes because of misguidance, ignorance or clever scams.
To combat this, several organisations and associations and respected jewellers have emerged over the years, doing research, certifying and building a trustworthy reputation. Despite these actions, it is still common that diamonds are appraised incorrectly. It is hard to tell the difference between an artificial and natural diamond, and a certificate on paper or as a PDF can be forged relatively easily. But it is the certificate that customers, jewellers, pawnbrokers and insurers rely on.
A solid starting point
As it happens, every diamond has its own unique markings and characteristics, often only viewable with a microscope. These details can not be copied or manufactured, so they can function as the perfect foundation of a certification system. Part of a diamonds’ value is the certificate that features details, like a grading report and origin. Often they feature descriptions of unique markings that show on the diamond.
V-ID data integrity platform
As this certificate is such a large component of the value of the diamond, it is a very likely target for fraud. This is where blockchain technology, the underlying technology of the V-ID data integrity platform, truly shines. It works as follows:
The certificate is published by a validated party, which has researched the diamond. The certificate includes the unique physical details shown on microscopic images.
As part of the publication of the certificate, its digital fingerprint is anchored on the blockchain using V-ID. As a result, the digital certificate may be copied and renamed without losing the verified status. Any recipient of the certificate can check the authenticity of the file in 5 seconds on any device with internet, to verify that the content is still exactly the same as when it was published. If just one character or byte is altered, the digital fingerprint is changed and will not match the blockchain stored fingerprint of the original and will result in a failed verification when submitted to the V-ID verification portal.
True evidence of authenticity
This method allows for any party to verify the authenticity of the diamond using the certificate, and the authenticity of the certificate using the V-ID service.
The strength of this method lies in its independence from other parties; unique markings on the diamond itself and a unique digital fingerprint stored in the most secure and fully decentralised immutable storage method named blockchain.