Following modest holiday sales, slow trading at the February/March Hong Kong show and a sluggish BaselWorld, typical first quarter inventory restocking of polished diamonds was "subdued" and "cautious" this year, while rough sales tumbled as manufacturing slowed, according to a Rapaport News press release.
Gübelin Gem Lab in Switzerland has launched the first colored gemstone blockchain which will track the provenance of gemstones at every step along the supply chain. Called the Provenance Proof Blockchain, its purpose is to provide the industry with a tool that enables genuine transparency concerning the origin and movement of gemstones. A gemstone’s journey begins at the mine, which is where the blockchain ideally starts.
The world's two largest diamond miners are joining forces to provide enhanced assurance for consumers and trade participants about the provenance and authenticity of their diamonds, as ALROSA has joined De Beers' blockchain pilot program - Tracr.
The Gemological Institute of America (GIA) has announced that Okavango Diamond Company (ODC) is participating in the Institute’s M2M (Mine to Market) program, a digital platform tracks rough diamonds through to the resulting polished gem. As part of a pilot initiative, a selection of ODC rough diamonds GIA has evaluated for its M2M program will be offered at the ODC July 2018 Spot Auction. The GIA's new service offers retailers a new method of being able to uncover a stone’s history.
In what it is hailing as an industry first, De Beers Group yesterday announced it has successfully tracked 100 high-value diamonds along the value chain during the pilot of its industry blockchain platform, tracking a diamond’s journey digitally from mine to retail. An immutable and secure digital trail was created for a selection of rough diamonds mined by De Beers as they moved from the mine to cutter and polisher, then through to a jeweller. The platform, called Tracr, is expected to launch later this year and will be open to the industry.
The Antwerp World Diamond Centre (AWDC), representing the largest diamond trade hub worldwide, and diamond mining company De Beers today announced at the KP Plenary in Brisbane that they are discussing a potential collaboration in De Beers’ recently announced blockchain platform. De Beers Group CEO Bruce Cleaver said that in recognition of the crucial issue of confidence in the diamond industry and the changing expectations across the value chain, the company has been investing in a platform to create, "the first traceability platform to span the entire diamond value chain ...
Recognizing the crucial issue of confidence in the diamond industry and the changing expectations across the value chain, De Beers Group CEO Bruce Cleaver today announced the company has been investing in a blockchain platform to create, "the first traceability platform to span the entire diamond value chain". Consumer expectations regarding the level of confidence "that a diamond has been responsibly sourced, confidence in its value and confidence that it is the real thing", is obviously on the rise.
Boosting confidence in the diamond trade by overcoming the last great hurdle of guaranteed provenance is no small task, but the daunting scale of the job at hand has not deterred Leanne Kemp, CEO and founder of British tech start-up Everledger. Combining the blockchain technology underpinning Bitcoin with HD photography and specialized applications, the company records 40 metadata points to create a unique thumbprint of each stone.
From the India International Jewellery Show (IIJS) in Mumbai, GemKonnect reports on the formation of the International Diamond Monitoring Committee (IDMC), an initiative intended to ensure the separation of natural diamonds from synthetics as they pass through the diamond pipeline to the retail counter.