These are not ordinary times. And in the shadow of a global pandemic and a tumultuous economy, consumer behaviors are not ordinary or predictable either. However, there are clear signs pointing towards healthy recovery for the diamond industry, based on continued consumer appreciation for the emotional symbolism of diamonds, a[…]
From miners to manufacturers, dealers to retailers, everyone who plays a part in the complex diamond pipeline has two issues on their mind: Traceability and Provenance.
At Israel Diamond Week in February 2020, several industry leaders gathered for an enlightening discussion on these very issues, hosted by Avi Kravitz, Analyst[…]
Today’s diamond market contains stones of many different types and provenances. Given the market’s long supply chain, it can be difficult to establish whether a given stone is a natural mined diamond or a synthetic lab-grown diamond. The diamond industry requires a method to authenticate the origin of each diamond and its path to[…]
New generations of diamond buyers are more socially aware and care about where the stones that they are purchasing are sourced from. This concern is particularly pronounced among Millennials, with many consumers shunning diamonds altogether in favor of more ethically-produced jewelry. This is why tracing diamonds back to their[…]
by David Block, CEO of Sarine
I am going to ruin the suspense and start right off by answering the question – categorically NOT! Contrary to what blockchain advocates would have you believe, a blockchain database by itself is not and cannot be a complete and reliable traceability solution. Now that we have that issue resolved[…]
Recently, the diamond industry has been transformed by a need for traceability throughout the diamond journey, compelling sellers and retailers to look for ways to reliably communicate the provenance of each diamond to consumers. The buying power and social responsibility of younger customers is driving diamond retailers to find[…]