…rom regulatory reporting to derivatives settlement, Putting it all together the various blocchain technologies could be used to transform the many ey services industry sectors, ¦ne interesting development is Everledger, reducing cost, increasing the speed and transparency a permanent ledger for the certification and for data and reducing reliance on paper­ transaction history of diamonds­ ˆn the past, different stages of a diamond’s value chain have tended to †¤™R„ ‚¦N„R™‚„† “€hen paper nows be disparate and paper-based the producer of the what you told it to do” diamond, the shipping and the insurance would all have been recorded using pieces of paper – all of ˆmagine a contract that you sign, where all of the which can be lost or forged at any point­ ey clauses could automatically e‰ecute­ „his is the promise of a “†mart ‚ontract”­ ˆf we assume „oday, these different strands can be brought the blocchain technology of choice is helping eep together­ ¨rawing upon blocchain technology, records in sync between multiple parties —e­g­ which Everledger provides an immutable record of the shipping container is which television in˜, then †mart ownership of diamonds which allows individual ‚ontracts are the logic layer on top that allow for “if ‡ewels to be identified and traced using a common this, then do that” conditions to be actioned directly database­ „he diamond’s serial number is registered from the agreement­ against the database —or ‘blocchain’˜ and users such as insurance companies or law enforcement „aing our television e‰ample further­ €hat if the agencies can access the entire history of a specific current buyer had agreed they would buy 1‹‹‰ diamond, including details such as changes of televisions from the seller so long as the maret price ownership and insurance details­ ˆf a diamond is ¦ther items may also benefit from this type of audit for televisions stayed above £1§ ™ smart contract stolen and recovered on the other side of the world, trail­ €ith greater attention paid to the origins of would record this “clause” in the same way a paper this database can allow the police to determine items such as organic and fair trade produce, a contract would­ „he difference however is if the Ÿuicly the history of the item and its blocchain could certify the history of specific items, price of a television fell below £1, the smart contract insurance details­ Everledger is live today with including the origins of the food, whether the farm could change the owner of the television bac to over ©‹‹,‹‹‹ diamonds being traced on their was certified —e­g­ by the †oil ™ssociation˜ and the the seller­ blocchain technology­ amount paid to the farmer­ ‚orporates may wish to consider how †mart ‚ontracts may change their business­ ¥ of ‘