Kimberley Process to Continue Work on 'Blood Diamond' Blockchain
A new report from the chair of the Kimberley Process – an initiative aimed at keeping conflict diamonds out of the global precious stones market – indicates that the UN-backed scheme is moving forward with its blockchain work. The internal trials currently underway were first unveiled earlier this year as part of work ongoing in connection with Dubai's Global Blockchain Council – a public-private initiative aimed at encouraging technology innovation. While the report is light on fresh details – it promises an update several months from now – its publication highlights the continued....
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The United Arab Emirates (UAE) is considering the use of blockchain technology to prevent the influx of conflict diamonds from entering the multibillion-dollar global precious stones market. The Kimberley Process (KP), an organization set up to stop the flow of “blood diamonds” from entering the global precious stones market has revealed a new blockchain initiative that will help with a tamper-proof record of the provenance of diamonds. As a part of his midterm message announcing the organization’s progress this year, chairman Ahmed bin Sulayem revealed meetings with Dubai’s Blockchain....
De Beers has launched its long-awaited blockchain-powered Tracr platform to track and manage diamond production. Global diamond mining firm De Beers has launched a proprietary blockchain-powered platform to manage its diamond production and distribution.The firm has long been at work on a blockchain system to trace, record and manage its diamond mining, production and distribution across the globe. The Tracr platform was first piloted and tested back in 2018, and the company has finally released the platform at scale to serve the wider diamond mining industry.De Beers has already....
De Beers, one of the leading diamond-producing companies globally, recently announced the deployment of its blockchain-based diamond source platform at scale. The platform will “enable the provision of provenance information from source to Sightholder to store on a secure blockchain.”
Immutable Record of a Diamond’s Provenance
One of the world’s top diamond miners, De Beers, recently said it had deployed a blockchain-based diamond source platform at scale. The platform, which is known as Tracr, gives the so-called sightholders the ability “to....
Bitcoin's first cashless ATM has just gone live in Queensland, Australia. The ATM kiosk was installed at the Bluff Café, which is located in Burleigh Heights. The ATM has been a long time in coming since Diamond Circle announced its development in March this year, but it is now and finally here. The Diamond Circle ATM works together with its bitcoin debit cards. They cannot be used with any other ATM. In March this year, CCN carried the story about Diamond Circle having developed the first cashless Bitcoin ATM. In explaining how the Bitcoin ATM would work, the company's Chief Technology....
Blockchain integration into any sector has proven to be a fitting move, and the diamond industry’s interest in this technology will without doubt be instrumental in its improvement. Diamonds are some of the world’s most valued gemstones, and the global diamond industry has managed to remain afloat despite being partially eclipsed by the emergence of modern stocks and novel virtual assets.The diamond industry, however, appears to be undergoing a paradigm shift in recent times — incorporating modern technology such as blockchain to improve diamond production, tracking and ultimate sales.....