Proof of Existence (PoE) 🔍

The Proof of Existence (PoE) smart contracts are a foundational element of the Diamond NXT ecosystem, designed to seamlessly bridge the physical and digital worlds of luxury assets. These contracts are closely integrated with the Smart Drawer, a cutting-edge, blockchain-connected vault that automates custody and asset verification, effectively removing the need for manual intervention.

This innovative system allows not only individual users but also esteemed diamond brands to digitalize their assets through our platform, ensuring each diamond's physical counterpart is securely linked to its NFT, complete with GIA and Kimberly certificates.

Purpose

The primary aim of PoE is to authenticate each diamond's digital identity, establishing a secure and unbreakable bond between the physical diamond and its digital representation. This mechanism is crucial for maintaining the integrity and value of diamonds in the digital realm, ensuring their authenticity and uniqueness are unquestionable.

Mechanism

By leveraging the Smart Drawer's advanced technology for physical verification, PoE integrates with blockchain to meticulously record the unique characteristics and ownership history of each diamond. This process creates a comprehensive digital ledger that is immutable, transparent, and tamper-proof, offering an unparalleled level of security and trust in the authenticity of diamond assets.

Diamond NXT Next Generation Smart-Drawer

Benefits

PoE revolutionizes the verification process for diamond assets, providing numerous benefits including fraud prevention, guaranteed authenticity, and a reliable record of ownership and provenance for every diamond NFT. Furthermore, the ability for diamond brands to own their Smart Drawer and digitalize their assets through our system opens up new possibilities for asset management and trading in the luxury market.