Diamond fraud is an alarming and growing trend that has caused significant financial loss to consumers worldwide. With diamond prices continuing to rise in response to global demand, unfortunately, so have the number of fraudulent activities related to diamonds. This post will explore how leveraging blockchain technology and Non-Fungible Tokens (NFTs) can help combat this costly problem by providing transparency and security within the diamond industry’s supply chain.
Web3 is the new internet, judging by its rapid growth. Web3 emphasizes that blockchain, cryptocurrencies, non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs) might help us build online spaces we genuinely own and even digital democracies.
