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In this section of the YouTube video, Claire Balva discusses the issue of transparency in the diamond industry, citing the opaqueness of the market and the use of diamonds in illegal activities like blood diamond mining. She then introduces Everledger, a start-up that uses blockchain technology for diamond traceability, allowing for secure, transparent, and decentralized data. Balva explains how blockchain technology can replace trust-based transitions, such as Bitcoin's decentralized system that allows direct peer-to-peer transactions without intermediaries. Claire also discusses the potential applications of blockchain technology in future societies, including the introduction of "agglo chain" for exchanging digital assets with value, its use in electoral systems, and its potential to make financial transactions more democratic and participatory.