We believe we CAN apply the pressure necessary to stop many of the crimes associated with gemstones.
The world’s poorest countries own 20% of global copper, oil, gemstones, lithium, cobalt, and other resources. What justifies this continued poverty? Smuggling, drugs, cartels, human trafficking, weapons, and money laundering are the result of political and capital “partners” remaining partially, even if unintentionally, unaccountable for the resources of these developing nations. The current situation mirrors that of ivory just a few years ago. But, in this case, we believe we CAN apply the pressure necessary to stop many of the crimes associated with gemstones.
Trusted Inc and Trusted BlockChain, with their partner RTrade Technologies are addressing these large quality of life, security, and national infrastructure issues with world-leading BlockChain technology innovations.
This project will use the Ethereum blockchain, enabling smart contracts to act as a source of truth for data stored on IPFS. These smart contracts will manage key identifiers and tracking details for parcels of gems, beginning at the mine in the country of origin.
We require bio-metric dual blockchain signatures at the village level to ensure fair trade wages and “Partner with a Village” profit sharing and use of funds. Then, to trace the stones, we capture 30X micro-photography, then seal them in pouches with blockchain identifiers in a QR code for both parcels and then individual stones.
Once a gem is removed from that parcel, a separate and linked smart contract will be created. This linked contract maintains its connection to the original parcel from the mine, but enables users to identify and track an individual gem through the rest of its journey.
When a user needs to understand the current state of a parcel or individual gem, the associated smart contract can provide a view into the immutable state data on IPFS. Using the latest state data, a user can then trace the item back to its origin and easily view the entire history of the gem or the parcel from which it came.
In addition, IPFS will be used as a decentralized database, leveraging the content addressing feature to ensure data integrity and verification. This method allows us to link objects and create relationships between data points, providing richer data insights.
Trusted Inc and RTrade Technologies are excited to use our expertise and experience with blockchain technologies to innovate a solution for a global problem. It is time to bring chain of custody and accountability to an industry long lacking in transparency!
Visit Trusted Blockchains website for more information.
Visit Trusted Inc website for more information.