Pandora’s endorsement of lab-grown stones will not devalue natural diamonds – Zimnisky

Jewellery retailer Pandora recently announced that it will no longer purchase natural diamonds as it had switched to lab-grown diamonds. However, diamond market analyst Paul Zimnisky told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that...

07 june 2021

“The volume of Forevermark diamonds that we drive through Indian partners is much higher than in other parts of the world,” says Sachin Jain

Sachin Jain has been a part of the Indian arm of De Beers that dates back to 2010 when he came on board as Head of Retail. In year 2014 he took over as President of Forevermark and today he is the Managing Director of De Beers, India. His single-minded...

31 may 2021

GSI's new Jaipur office to specialize in colored gemstones

Gemological Science International (GSI) has opened a new laboratory in Jaipur, India. Since this state is the capital of colored gemstones, the laboratory will have a dedicated division specializing in colored gemstone geographical origin and...

24 may 2021

“We welcome the mandatory hallmarking in the interest of consumers, but it is also essential to have proper and evenly spread infrastructure across India,” asserts Ashish Pethe, Chairman, GJC

Ashish Pethe, Chairman of All India Gem and Jewellery Domestic Council (GJC), formerly known as All India Gems & Jewellery Trade Federation (GJF) is based in Mumbai. As the third-generation heir of M/s Waman Hari Pethe Jewellers established...

17 may 2021

ALMAR is a case in point that will serve to develop the process of funding junior companies and geological exploration in general

Arkticheskaya Gornaya Kompaniya (AGK, Arctic Mining Company) develops the diamond deposits in the Lena-Anabar diamondiferous sub-province of Yakutia under the ALMAR (Diamonds of the Arctic) brand. This company attracts investments for...

10 may 2021

World’s first regulator-approved diamond coin launched

11 june 2021
New diamond coin is pitching itself as an alternative commodity for investors to purchase instead of gold bullion, writes.
International Gemological Institute (IGI), which provides grading for gems and jewellery grading, has joined hand with Diamond Standard to launch – Diamond Standard Coin, an investment product which can be traded on the market as a regulated commodity, similar to gold.
The Coin is the world's first regulator approved, exchange traded, fungible diamond commodity that contains a set of statistically calibrated diamonds and a military-grade wireless encryption chip, allowing buyers to authenticate, audit and trade this brilliant new asset electronically, using blockchain technology.
IGI will receive, inspect and validate the authenticity of over 50,000 natural diamonds acquired through the Diamond Standard Exchange using automated market making and transparent bidding. Post which, IGI will assemble the diamonds, sealing them into a transparent coin with a sophisticated wireless computer chip.
Specialised equipment will be used to analyse and enroll the Diamond Standard Coin onto a blockchain.
“It is a colossal step forward for the diamond and associated sectors. Diamonds are the only top ranked precious natural resource that are not commonly held by investors, and with the launch of Diamond Standard Coins we are unlocking the value of diamonds as a secure asset,” said Shaunak Shastree, general manager of IGI.
"The concept of diamond being used as a trading commodity is relatively new, and hence our partner like IGI will add value in instilling confidence amongst the investors. Diamond trading will be a game changer in the coming days in the world of trade. We are excited to begin a long relationship with IGI,” said Cormac Kinney, Founder and CEO of Diamond Standard.
The offering price of the Coin is $5,000, payable in USD or ETH. There are 5,000 Coins available for an initial commodity offering of $25 million. Following the initial sale, the market price of the Coin will be established by independent trading on various digital exchanges. Like gold, there will be a daily fix, used to settle the futures and options, report the net-asset-value for any securities, and mark-to-market institutional funds.

Alex Shishlo для Rough&Polished