De Beers Diamond Tracking Blockchain Platform and Huawei Announce BTC Wallet for Mobile

Unusual movements and volatility in the cryptocurrency markets overnight with a large number of top altcoins seeing double-digit percentage changes. Bitcoin significantly down on yesterday from $9360 to $8782 – Ethereum suffering less of a thrashing but still falling from $760 to $697. Overall the global market cap has dropped back to just under $400 billion. So far no clear reason for Bitcoins fall yet, Ethereum likely gaining price support on the release of the Casper update.

Mobile phone handset makers Huawei are bolstering the mass adoption of cryptocurrencies with the announcement that users of their devices will be able to download the Bitcoin wallet from its AppGallery. The Chinese Government currently blocks Google Play Store and various sections of Apple’s iTunes preventing access for most users to cryptocurrency apps – Chinese based Huawei are not subject to the same restrictions and whilst China has banned trading platforms and initial coin offerings, owning and using cryptocurrency is still permitted. The app should be available for users to download from the AppGallery as of today.

Diamond dealers De Beers have announced the results after the pilot of its industry blockchain platform to track diamonds. The Tracr™ platform due to be launched later this year, successfully tracked 100 high value diamonds from their rough state at the point of mining right through the processes of cutting, polishing and finally on to the retailer. Five well established diamond manufacturers are involved in the project Diacore, Diarough, KGK Group, Rosy Blue NV and Venus Jewel – all drawn by the idea the project should aid transparency for the industry in their bid to increase consumer confidence and reduce the trade in conflict diamonds. The platform appears to be a more niche version of IBM’s Trustchain announced at the end of last month, designed to accommodate the tracking for jewelry supply sector.

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Created: Friday, May 11, 2018

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