Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 2019

Jewellery will be subject to marking from January 1 – report

27 december 2018
The Russian State Duma has passed the law on creating the united system of goods marking including jewellery which will enable the government to fight with illegal product turnover in the country, as per reports in mass media.
The law will reportedly come into force on January 1, 2019 and will focus on protecting the consumers from purchasing tampered and low quality products, says uvelir.info.

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               Image credit: EPL


Thus, each product should be marked – it will receive its own code which together with the information about the item will be submitted to the united data base used by a client to check the data on the product.
The government in its turn will control business data connected with the goods turnover.
Many diamond companies are trying to reach transparency in the industry by launching blockchain platforms to trace diamonds. De Beers has created a pilot Tracr program which helps to trace diamonds from mine to market.
The new law on the united marking system will enhance the chances of reaching transparency in the jewellery sector providing at the same time guaranties about the creation and origin of products.

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg