NFTs could help solve diamond certification fraud
Diamonds may be a girl’s best friend, but unfortunately, the billion-dollar diamond industry is rife with scandal and fraud. There have been a number of cases where lab-grown diamonds have been graded as natural diamonds.
In addition, consumers are able to resubmit a diamond for examination at GIA for any reason. This is known as a follow-up service. As a result, diamonds can be associated with multiple grading reports. This can be problematic for consumers since they may not be receiving original diamond certificates upon purchase. “upgrade” the quality of diamonds submitted for grading.
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