De Beers to Guarantee Diamond Purity via Blockchain

The company aims to verify the authenticity of diamonds using blockchain technology
16 January 2018   1821

De Beers, an international corporation that specialises in Mining and trading of diamonds, aims to launch the first industry-wide blockchain this year to track gems each time they change hands starting from the moment they are dug from the ground, its chief executive said on Tuesday.

The company aims to verify the authenticity of diamonds and ensure they are not from conflict zones where gems could be used to finance violence using blockchain technology.

De Beers began its pilot project this month after several months of research, responding to a rising number of customers wanting guarantees diamonds had not been used to fund conflicts.

It’s a huge public ledger as immutable as anything invented. It’s a much more un-hackable system than anything on a single server. Blockchain has the ability to be very significant for the industry.

 

Bruce Cleaver

CEO, De Beers

According to the company, the project will be the first to span the entire value chain and it will be open to everyone in the industry and will offer the potential for monitoring each stone.

Binance DEX to Launch Trading

Mithril is the first asset, that is trading on new platform; also, the exchange presented the listing rules for assets
25 April 2019   83

Binance DEX announced the start of trading in the Mithril token (MITH) together with Binance Coin (BNB). This is the first asset in the listing site.

At the same time, the exchange presented the listing rules for assets. So, anyone can release a token on the Binance Chain, but listing it to the marketplace takes place in several stages.

First of all, the issuer must place a listing application on the Binance Chain community forum, providing answers to a number of questions relating to the innovativeness of the project, its scope and other characteristics.

After that, the issuer must make a deposit in the amount of 1,000 BNB within two days, which will be returned later. Note that the listing of an asset on Binance DEX must be approved by at least half of the validators.