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It's our responsibility to capture the imagination of future generations towards diamonds

As CEO of Beverly Hills-based Grand Metropolitan - a privately-held luxury goods holding company with a 130-brand portfolio - Vin Lee carries the burden rather lightly on his shoulders. Having migrated from Canada as a baby, it did not take long for...

Today

‘Non-diamond producing countries shouldn’t lead KP’

Non-diamond producing countries should not lead the Kimberley Process (KP) as was the case last year with the United Arab Emirates (UAE), according to the African Diamond Council and African Diamond Producers Association chairperson...

04 december 2017

Jewellers’ Guild of Russia sees its mission in creating highly developed national jewellery market

In recent years, the Jewellers’ Guild of Russia has noticeably stepped up its activities. Eduard Utkin, General Manager of this Association told Rough & Polished about what is happening in the country’s jewellery sector, the tasks facing the community...

27 november 2017

Any color diamond is a great investment

Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company...

20 november 2017

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association...

13 november 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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