Blockchain Tracking Tool For Diamonds Launched By Rare Carat And Everledger

Unbiased diamond advice provider Rare Carat has partnered with blockchain startup Everledger to launch a free tool for consumers to intelligently evaluate diamonds for sale anywhere Founded in 2016, Rare Carat allows consumers to compare diamonds across trusted diamond retailers to find the best deal Everledger's blockchain solution is scaled for industry standardization as evidenced by the provenance of over 22 million diamonds encrypted on its platform.

The two companies developed a new tool, called Rare Carat Report, that allows consumers to check diamond price, quality, and provenance The tool is using AI to evaluate the diamond's price, strengths, and weaknesses, allowing consumers to buy with confidence "Consumers are often frustrated by a lack of transparency when buying a diamond engagement ring, said Rare Carat COO Apeksha Kothari"The Rare Carat Report fills a key role as the industry addresses this problem with its newest generation of buyers, helping build trust between buyers and sellers.

Earlier this year, De Beers Group announced that it had successfully tracked its first diamonds all the way from the mine to jewelry retailers using a blockchain platform. . Source