Over the past few years, the rapid adoption of blockchain technology has promised to solve long-standing problems for business and consumers alike. If you look around, it’s turning up everywhere, from the Walmart produce supply chain to private home sales in California. As the quantity and variety of uses for the blockchain have grown, so too have hopes for what the technology ultimately might be able to accomplish on a broader scale, particularly when applied to longstanding societal needs and problems.
Some people envision it as a solution to major imperatives such as securing election systems within democratic nations, and others hope to see it put to use to help establish property rights within developing nations. The list of ways that technologists hope to see blockchain provide societal benefits is vast, but so far, examples of such uses have been few and far between. There is, however, one remarkable example of blockchain technology being brought to bear on a major problem that has defied every other attempt at a solution for almost 30 years, and it’s connected to something you might not expect — diamonds.