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CHALLENGE 2

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THERE'S A NEW KID ON THE BLOCKCHAIN

Intro

 

Imagine that we have a blockchain system which can not only trace the lifeline of a stone, but can also trace diamond transactions.

 

If used by a critical mass of companies, spanning the whole value chain of the diamond industry, this Blockchain would create a vast source of new data on invoices, stones and transactions.

 

The owners of the data – diamond traders for example – could then decide to disclose or share their data with third parties.

Questions

 

Which kind of third parties, from within or outside the diamond industry, would be interested in obtaining access to this data?

Example: banks, insurance companies, shipping companies, jewelry manufacturers, end consumers, research, government, accountants, …

 

What kind of applications could be built to create value, based on this data?

Example: pattern recognition, risk management, automated invoice financing, mapping of diamond life cycle, adaptive goods insurance based on delivery performance, (predictive) price indices for specific types of diamond based on sales data, automated government tax calculations, roboting accounting, etc.

 

How could tokenization create added value in the diamond industry? If a token would emerge from this blockchain, what would be its inherent value and what could it be used for?

Example: as payment currency for purchases or sales of diamonds, as counter-value for a group of blockchain registered diamonds, as payment currency for services (eg. certification, shipping, … services)