29 Jun '15, 2pm

Everledger Is Using Blockchain To Combat Fraud, Starting With Diamonds: The wild valuation swings of Bitcoin a...

The wild valuation swings of Bitcoin are something of a sideshow when compared with the potential of the underlying blockchain engine. Focusing on the utility of this distributed, consensus-based technology is exactly what London-based startup Everledger is doing. The very early stage startup — which was founder and CEO Leanne Kemp’s idea a mere three months ago before she was encouraged to bring it to the London-based Barclays TechStars fintech accelerator and set up as a business — is using the Bitcoin blockchain as a platform for provenance and combating insurance fraud. It’s starting with diamonds, with a view to expanding into all sorts of luxury goods — such as high end watches, designer handbags and fine art — so basically high value items whose provenance might otherwise be reliant on paper certificates and receipts that can easily be lost or tampered with. The blo...

Full article: http://techcrunch.com/2015/06/29/everledger/

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