END TO END TRANSPARENCY OF BL THE P CAN REDUCE WASTE The opportunity to address the challenges of provenance, authenticity This data, collected from grocery stores, can be fed into growing and traceability, and to provide small producers with a more equitable recommendations for farmers to help manage supply and demand. Which seat at the Fair-Trade table is now more real with emerging technologies varietals are growing in popularity? How many are needed in each region? Each such as blockchain. state or province? Each individual store? By combining blockchain and AI, the entire process can not only become more intelligent, but can produce more At its most basic level, blockchain (a type of Distributed Ledger Technology, collaborative synergies. OCK O or DLT) is a new type of database system that maintains and records data in a way that allows multiple stakeholders to confidently and securely share access TENTIAL to the same data and information. This database technology is driving major A DIAMONDS TRUE ORIGIN business transformation where the business processes and relationships across ecosystems are being reimagined. In the high-end market, diamonds have long been associated with unethical DLT systems enable all of the participants to confidently share access to data and origins, as blood diamonds are often mined with the hands of indentured CHAIN therefore strip away significant amounts of “messages” and data reconciliation servants and child labor for the benefit of warlords. Given the multitude of that define how we work today. Importantly, this new data capability creates the hand-offs along the supply chain, it has been extremely difficult to have ability for users to know the full provenance of a piece of data, to know that it any confidence in the true origin of a diamond. Everledger, an emerging hasn’t been tampered with, and to be able to control who has access to what to technology enterprise, has sought out to solve this problem by using a preserve privacy where required. distributed ledger among all partners across the supply chain, allowing the Imagine apples going through a supply chain. Once apples are picked, they are manufacturers, retailer, and grouped into a shipment and entered onto the blockchain as a digital asset— consumers to know a diamond’s tagged with information about time of picking, varietal, orchard and potential story from origin to the end classifications such as being organic. As the apples are shipped to different customer. The core characteristics end markets, sensors track each hand-off between multiple logistics providers, of distributed ledger distribution systems, wholesalers and retailers, but the data is held in data siloes. technology–immutability, speed An individual player could apply AI to generate insights, but they have limited and security– create the ideal visibility of the data. platform for tracking and protecting high-value assets and Now imagine a blockchain-enabled shared data system. AI applications would critical data. In its first three years, have end-to-end transparency and be able to provide insights regarding routing Everledger has encrypted the logistics in order to match insights about freshness to optimal destinations that provenance of over 2 million diamonds, would also assure the apples aren’t wasted. During the growing process, AI can with future plans to add other luxury provide insights about fertilizer needs, what varietals to plant, and the best time goods to the blockchain. to harvest, including the optimal distribution routes to reach consumers at the peak of freshness. AI could even recommend faster routes or re-route around storms or heat spikes. Over time, it can also monitor demand. CONTENTS 66