How to Prevent Fraud in Diamond Trading with Digital Ledgers

Trust is the currency of the diamond trade. But "trust" alone isn't enough when high-value assets are changing hands multiple times a day. Fraud and stone substitution are unfortunate realities.

The Problem with Paper

Paper slips (Jangads) can be lost, altered, or forged. When a stone goes out on approval, tracking who has it and for how long becomes a nightmare with paper records.

The Digital Solution

Digital ledgers provide an immutable record of every transaction.

• Audit Trails: Every movement of a stone is recorded with a timestamp and user ID.
• Digital Jangads: Issue digital approval slips that cannot be lost or altered.
• Image Verification: Store high-res images of inclusions alongside the stock record to prevent substitution.

Implementing a robust digital tracking system protects your assets and your reputation.