Canada: Birks Group Jewelry Retail Giant Begins Accepting Bitcoin in 8 Locations

[Leonardo]

ph has reported, Bitcoin’s underlying blockchain technology has seen multiple use cases in tracking materials in the jewelry industry, with dedicated startups focusing on using it to increase diamond supply chain transparency.

In October, the world’s largest diamond producer Alrosa joined one such blockchain tracking pilot in the form of De Beers’ Tracr.

“Birks Group has a large number of international shoppers so allowing them to pay in bitcoin makes perfect sense,” BitPay’s chief commercial officer Sonny Singh added.

BitPay is currently embroiled in controversy over its security practices after the discovery a developer had injected malicious code into its Copay wallet this week.

While it remains unclear as to whether the vulnerability was ever exploited over the three months since it was created, cryptocurrency industry figures were quick to pour scorn on the company.

Source: https://cointelegraph.com/news/galaxy-digital-lost-136-million-in-the-first-three-quarters-of-2018