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Leanne is the founder and CEO of Everledger, a startup launched in 2015 which took part in the Barclays Techstars accelerator ending in June. It has built a global digital ledger — the first of its kind — that collects dozens of cross-reference-able data points on each recorded diamond in an attempt to inject transparency into the market and eliminate associated criminal activity. And that’s just the beginning.

 
leanne-kemp

 
Connect with her on LinkedIn: https://www.linkedin.com/in/leannekemp

She will be live on October 11th starting at 3:00 PM EST for one hour during which she will answer as many questions as possible.


    Will Everledger expand beyond Diamonds and if so what industries to you think you will enter?
    The way I think about it, Amazon started with books and Everledger started with diamonds. Our technology can be extended to any item with a serial number on it but our focus has been on luxury goods where the largest problems with fraud, theft and trafficking occur. The next frontier for us is fine art and fine wine – we’re currently working on projects in the space and you’ll be hearing more from us over the next couple of months. For art you can check out what we have in the pipeline here: http://www.coindesk.com/everledger-announces-partnership-vastari-combat-art-fraud/
    Who do you see as your #1 customer segment who will take advantage of your offering?
    Everledger’s technology is most important to the multiple stakeholders who are involved in the financing and movement of an asset as it goes through a supply chain. In the diamond industry, this includes all the players from the point where the diamond is pulled from the earth to the point of sale in a retail store or open marketplace.

    Stakeholders in the diamond industry include insurance companies looking to prevent fraudulent claims (which cost industry $50 billion annually), banks that finance the pipeline (carrying associated risk), certification houses certifying cut and polished stones (using paper based processes), retailers (selling the diamonds in open marketplaces), law enforcers (tracking where counterfeit goods are crossing borders) to people looking to ensure the item they are buying is ethically sourced.

    @Leanne– so if you had to pick just one from the stakeholders you have listed, what’s your current best guess? Also, how are you now reaching out to them?
    I dont know much about the diamond industry but it looks to me that it might be quite conservative. How do you plan to overcome their inertia to adopt modern technology like Everledger?
    We’re not here to disrupt the industry, but to work in parallel with it. Our technology provides the transparency, efficiency and speed required to address the critical problems that industry currently faces – from tampered documentation to the movement of counterfeit diamonds globally.

    For us to succeed we need to work with all the stakeholders involved in the supply chain process and that has always been our approach when we start building out solutions for every market we’ve gone into.

    How does Everledger upload the Diamond to the Blockchain? And is this a public or private chain? Thanks
    Everledger takes current industry certification (4Cs – cut, clarity, carat and colour) and adds 40+ pieces of additional meta data and high-res photography which is then linked to the laser inscription found on the girdle of the stone. We then take all this information and write it into the blockchain creating a permanent digital thumbprint of the diamond.

    Our data is written into the public Blockchain in addition to permissioned ledgers. Having a permissioned ledger allows us to better serve industry. It creates a system where accessible permissions are tightly controlled, with rights to modify or even read the blockchain state are restricted to a few users, while still maintaining the partial guarantees of authenticity and decentralization of blockchain technology.

    What advantages does this have over the Kimberly process?
    The formation of the Kimberley Process in 2003 largely succeeded in its mission to address the use of blood diamonds in funding conflicts around the world (only 3% of the world’s diamonds are currently blood diamonds). While the initiative took great leaps when it comes to conflict stones it hasn’t been able to address the other issues the diamond industry is facing: efficient financing of the pipeline, fraudulent claims, theft, document tampering, the movement of counterfeit goods.

    We’re looking to provide transparency to diamonds at every stage of their lifetime journey and as a result create a better environment for all stakeholders working in the industry.

    What blockchain platform are you planning to build Everledger on? And will Everledger will be a POW or POS system.
    Blockchain is still very much a nascent technology and there is a lot of expectation around what it can achieve. Our engineering team is doing its due diligence and building on several blockchain platforms depending on the industry and partner we’re working with.

    Over the past year we have worked in partnership with IBM’s Blockchain solutions which afford us the most advanced security features underpinned by the fabric of IBM LinuxONE — critical when it comes to protecting high-value assets like diamonds.

    How is this going to impact the insurance industry? Will this mean new policies?
    Blockchain based processes will reconfigure the way insurance companies assess risk in the future as risk will be assessed based on the asset vs. based on the individual, which is how the current system works.

    By creating a digital verification system of assets we are enabling a level of reputation to objects which has never been available before. Policies will be adapted/updated vs. created, incorporating emerging tech like blockchain.

    How does Everledger.io keep track of each individual diamond?
    We store the identity, ownership and movement of diamonds on our global, digital ledger. Once the diamond’s defining characteristics (4Cs – cut, clarity, colour and carat, 40+ pieces of meta data and high res photos) are uploaded on the blockchain, all stakeholders invited to the ledger can access the same set of information and track the diamond as it moves throughout its journey from mine to counter.

    Think of it as a digital passport of the diamond on the blockchain – a permanent record that can’t be changed without required consensus.

    How will the mining ecosystem work in Everledger?
    Intelligent mining is a very real tech evolution, where the application of emerging platforms in field are able to better understand economic yields of production, tracking of assets – and in some instances machine to chain protocols will enable a future world of preventative shutdown and intimate performance tracking.
    Let’s say a Diamond is stolen. How does Everledger keep track of the stolen Diamond?
    As the diamond’s identity is encrypted on the blockchain once the item resurfaces for sale, either in a black market or an online marketplace, the entity looking for the stone would be able to match the identity of the asset to the record on the blockchain.
    Diamond robbery and blockchain.

    What challenges do you foresee Everledger encountering as you aim to become a widely used tool by law enforcement and diamond insurers, to combat crimes involving diamonds?

    This article brought up a good point and would love to hear your thoughts: http://bit.ly/2dioTVm

    Hi everyone,

    Thanks to Blockgeeks for hosting this event and having me join the conversation. I’ll try to answer everyone’s questions in the next hour but if I miss anything feel free to connect with me on LinkedIn or drop me a line at media@everledgerio.

    Ready to discuss all things blockchain and diamonds!

    LK

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