Color diamonds are more valuable and desirable and a better investment

In 1993, Eyal Cohen started his career as a diamond cutter, sitting by his father’s side as an apprentice. 4 years later, he was recruited by a jewelry firm, where he learned to appreciate natural colored diamonds. In 2003, Eyal opened his own company...

17 september 2018

Debate on the main issues affecting the diamond business is absolutely critical - Ernie Blom

Having taken part in the fruitful discussions with the world leaders at the Asian Summit held recently in Vladivostok, Ernie Blom, President, World Federation of Diamond Bourses (WFDB) now looks forward to taking the worthy inputs received at...

10 september 2018

Reflecting the nature of the industry, US jewellery market is significantly seasonal with great ‘ebb and flow’ in demand, opines Vin Lee

Vin Lee, CEO of Beverly Hills-based Grand Metropolitan, a privately-held luxury goods holding company had migrated from Canada as a child. And one can see that it did not take him long to ascend the US luxury world, establishing himself as a formidable...

27 august 2018

Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

20 august 2018

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

CIBJO President expressed support for De Beers plan to develop diamond traceability system

11 december 2017
CIBJO President Gaetano Cavalieri has voiced the World Jewellery Confederation's support for a De Beers development project that employs blockchain technology, which was announced on December 4 by the group's CEO, Bruce Cleaver.
When operational, it should enable a diamond's journey through the value chain to be recorded in a secure digital registry by all parties handling the stone, thus creating a transparent method of traceability that is accessible to the entire gemstone and jewellery business.
"This has the potential of being a game changer, with new technologies offering solutions to a challenge that has been notoriously difficult to achieve to date," said Dr. Cavalieri. "While we still are waiting for more information from De Beers about how specifically the system can be applied to diamonds, we are well aware of blockchain's capacity to record for perpetuity chains of transactions, allowing goods to be traced back to their source.
CIBJO strongly advocates for the creation of monitored chains of custody, Dr. Cavalieri said, with the goal being to defend the ethical integrity of products in the gemstone and jewellery trades. At the same time, the confederation has in past expressed concern that more cumbersome due-diligence systems that have been created to meet this objective may disadvantage smaller and medium-sized companies, which lack the resources to put them in place. However, a cloud-based blockchain platform, which is both tamper-proof and accessible to all members of trade, has the potential of eliminating financial barriers of entry, while also being more reliable and effective than a paper-based trail, CIBJO notes.

Alex Shishlo, Editor of the Rough&Polished European Bureau in Brussels