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SA’s Vutomi project can start production end of 2018 – John Teeling

Botswana Diamonds entered into an option and earn-in agreement with Vutomi Mining and Razorbill Properties, a private diamond exploration and development firm in South Africa last February. It agreed to pay Vutomi a total of £942,000 in cash, of which...

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Proximity doesn’t matter, your pocket does: Tanzanians interested in tanzanite jewellery can testify

Tanzanite, a rare blue/purple gem, was discovered in the Merarani Hills of Manyara Region in northern Tanzania in 1967, a few miles from Arusha and Mount Kilimanjaro. It is used as a gemstone and of late Tanzanians are manufacturing quality jewellery...

19 june 2017

Global demand for polished diamonds will remain steady – Ali Pastorini

Ali Pastorini, senior vice-president of the World Jewelry Hub, answered questions from Rough & Polished concerning the world diamond market, preferences of consumers and role of bank crediting.

13 june 2017

Eternal values in Malaya Bronnaya Street

The assay supervision in Russia is 317 years old. Much younger is the Moscow Gemological Certification Centre (MGCC) established under the Assay Chamber and located in the same ancient respectable mansion at 18, Malaya Bronnaya Street. The MGCC employees’...

05 june 2017

Diamonds will have the greatest potential in 2017

Mumbai-based Rajesh Bhagat, India Consultant of Hong Kong Trade Development Council (HKTDC) who oversees HKTDC’s operations across India, Sri Lanka and Bangladesh, has been assisting companies, particularly small and medium enterprises (SMEs) in the...

29 may 2017

SDiX to run trials of first blockchain verification

19 june 2017
Singapore Diamond Investment Exchange (SDiX) has announced that it will soon complete the first part of a “Proof-Of-Concept of a blockchain-based authentication and secure record-keeping service for trading diamonds on a global commodity exchange.”
SDiX is the world's first commodity exchange in physically settled diamonds in partnership with Kynetix, the physical commodity digitisation expert, and Everledger, supplier of blockchain and distributed ledger infrastructure.
An initial trial run was successfully completed when the solution “accurately authenticated the key details of a consigned diamond basket on SDiX consisting of GIA-certified stones using unique data points hosted securely online”.
SDiX says that a key part of the output is a "view receipt" of the digital certificate for each stone in the basket, housed on the blockchain. The system opens up the potential for a range of future applications for diamond market participants, including enhanced provenance data, increased supply chain security and efficiencies, and new risk management tools.
Linus Koh, CEO of the Singapore Diamond Investment Exchange, said: "This exciting collaboration builds on SDiX's record of delivering advanced technologies to enable a trusted, fair and transparent marketplace for trading diamonds as an investable asset class. This new concept draws on blockchain's distributed ledger capability to demonstrate how we can further instil confidence and convenience for the benefit of diamond investors and financiers."

Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished

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