GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Indian diamond industry welcomes ‘Blockchain’ technology

29 august 2016
The Indian diamond industry will soon equip themselves with the 'blockchain' technology to enhance security and prevent conflict diamonds from entering the market, reports TOI.
The Kimberley Process Certification Scheme (KPCS), a global industry watchdog for clean trade in diamonds, is working on a pilot project that will use the technology to monitor the KP statistics globally. The move will help ensure permanent blockage of blood diamonds from war-torn areas to enter the mainstream market.
The KPCS, which is chaired by United Arab Emirates (UAE). Ahmed Bin Sulayem, has announced the blockchain initiative as part of his mid-term message assessing the KP's progress.
The blockchain is seen as a major technological innovation of Bitcoin, since it stands as proof of all the transactions on the network. A block is the 'current' part of a blockchain which records some or all of the recent transactions, and once completed goes into the blockchain as permanent database.
Blockchain is a list of transactions that take place in a peer-to-peer network. It enables users to share a digital ledger across a network of computers without the need for central authority to clear transactions, while making it impossible to tamper with records.
India is the highest importer of rough diamonds of around $16 billion from various parts of the world. While over 80% of the diamonds enter the country via the world's leading diamond mining companies including De Beers, Rio Tinto, ALROSA etc, the rest is purchased from secondary markets in Dubai and Belgium.
In India, the Gems and Jewellery Export Promotion Council (GJEPC) is the governing body for the KP certificates. Speaking about the technology, regional chairman of GJEPC, Dinesh Navadiya said, “Introducing the blockchain technology is a good move by the KP chair. We will get to know about the technology and its intricacies at the upcoming KP plenary meeting in November. But, we want to assure that GJEPC will always support the KP's decision to prevent blood diamonds from entering India."

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