The problem Chrysus solves

Our proposed system for diamond exchange in India is a digital solution, linking Aadhar IDs with Hallmark Unique Identification Numbers (HUID). By prioritizing security through blockchain technology, we ensure protection for all transactions and data. This approach emphasizes transparency, providing clear visibility into ownership verification, which fosters trust and reliability within the diamond exchange ecosystem. Key features include the Aadhar-HUID linkage for traceability and blockchain security for immutable ownership records. The system also aims to reduce diamond smuggling by creating a transparent digital trail for ownership. Additionally, it facilitates faster diamond loan processing, efficient diamond exchange, and quick victim redressal in theft cases. By integrating Web3 technologies and maintaining comprehensive transaction histories, our system sets a new standard for transparency and security in the industry.

Challenges we ran into

Faced difficuilty in updating smart contract while changing ownership.