Bitcoin Rings: The Engagement Rings of the Future

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Diamond engagement rings are traditional, beautiful, and generally a safe bet when proposing. That said, the gems come with their own complications, like possible theft, and worries about where, and how ethically, the diamonds were sourced. 

Inventor Seb Neumayer believes these risks are far too great. He suggests that you forget about traditional sparklers and get your bethrothed a BTC ring instead. This unceremonious piece of metal is 3D-printed, customizable, and features a QR code linked to a Bitcoin blockchain. Anyone with the corresponding app can scan the ring and determine how much it's worth. (Yup—now you can know exactly how much your fiancé was willing to fork over before you say yes.) Neumayer argues that standard engagement rings are already indicative of wealth, so why not make the whole process absolutely transparent?

The primary goal is to shift value away from the physical ring, which can easily be stolen or lost. “The real value of the BTC ring lies in the blockchain," Neumayer told Motherboard. "This is different [from] a diamond ring, where the value is on the ring.” Hauling a huge rock around might make you susceptible to mugging, but no one is going to want a QR code stuck to a band of metal; even if they did steal it, the ring does not contain a password to access the associated funds. 

The baubles are easily reprinted if lost, and can come with “blockchain inscriptions,” similar to an inscription on a ring, but digitized. Plus, if you ever find yourself with money to burn, you can upgrade the ring's worth without having to head to the jeweler. Your keepsake won't actually look any different, but nosey friends will know. 

If you'd like to secure your own financially prudent ring, you can design your own here

[h/t: Motherboard.com]

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May 26, 2015 - 10:30am
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