The World Gemological Institute (WGI) is partnering with fintech company Vaultik to tokenize $3 billion worth of luxury goods on the Hedera blockchain. Through this collaboration, they aim to modernize the diamond industry by ensuring the authenticity, transparency, and security of certified assets. WGI will provide blockchain-based digital certificates for all certified goods, linking them to insurance through global broker Acrisure. Additionally, token identifiers will be laser engraved on the objects and certified products will have NFC chips for further protection against fraud. Buyers can verify the authenticity of their products by scanning the chip with a smartphone throughout the entire supply chain.



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