Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...


The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

The Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, recently announced the appointment of Élodie Daguzan as its first Goodwill Ambassador. Ms. Daguzan, who currently works as head of communication...

04 june 2018

Zimnisky on De Beers’ Lightbox: It’s a strategic, bold move that will benefit the entire natural diamond industry

De Beers shocked all and sundry end of May when it announced the launch of a new company called Lightbox Jewelry, which will market a new brand of laboratory-grown diamond jewellery in September. This effectively meant that the group had departed from...

01 june 2018

Tracking the provenance and lifecycle of a product is a natural and necessary evolution in our industry

A senior executive with a demonstrated history of working globally at management and board levels, Marcus ter Haar has been the Managing Director at Okavango Diamond Company (ODC), Botswana for about 10 months now, prior to which he held the...

28 may 2018

Carats.io raises $1.6 mn in first financing round

15 may 2018

Carats.io has raised $1.6 mn in its first funding round led by Net Capital Ventures. The company is issuing the first digital coin backed by diamonds.

Image credit: Carats.io

According to CEO Avishai Shoushan, Carats.io is creating the first-ever viable secondary market for diamond commerce, combining the stability of diamonds with the liquidity of cryptocurrency. “We are bringing diamonds – the world’s most precious commodity – to financial markets as a safe, transparent and liquid financial asset,” he said.
CARAT tokens are 100% redeemable for diamonds because they are backed by real, certified diamonds. The company has created the Diamond Pricing Algorithm (DPA) which compares individual diamond grades to daily market conditions, based on not less than 14 diamond parameters. It has been deployed so far on over $11 bn worth of diamonds. It has also created the Get-Diamond Index (GDX), the first diamond market index of its kind, based on the daily diamond trading data within the IDE.

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


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