Blockchain : Blockchain Tool Helps Consumers Estimate Prices and Evaluate Qualities of Diamonds
Blockchain technology is now letting consumers estimate prices and evaluate qualities of diamonds both online and offline from all over the world (you can read about it [here](https://www.forbes.com/sites/rachelwolfson/2018/08/09/new-blockchain-tool-provides-free-price-estimates-for-diamonds-showing-quality-and-provenance/)). Rare Carat has recently announced their partnership with Everledger to bring consumers a new blockchain tool, helping them make better decisions when it comes to buying diamonds. Using the Rare Carat Report, consumers are able to find out a diamond’s price, strengths and weaknesses by simply entering the diamond’s certificate number into the system.
Hence, if blockchain technology were to be used in a wider setting such as a virtual world similar to *Second Life*, this could potentially help increase transparency and trust between consumers and businesses/sellers, allowing for better and more efficient transactions. Anyone have any thoughts on this?
What is the Blockchain?
A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency’s block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history.
Author: bridgetbob31
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