“Blockchain technology, with its immutable ledger, can provide consumers with the guarantee that their diamonds have been ethically sourced. It empowers consumers to make informed choices and encourages responsible practices throughout the supply chain” :Mogkweetse Masisi, President of Botswana, at last month’s Facets Conference in Gaborone!
iTraceiT, an independent, third-party company specializing in traceability solutions and the creator of the world’s first digital diamond passport, announced it has entered into a partnership with the Cutwise Group to permit users of iTraceiT to integrate the data of the Cutwise, DiLog report for the scans of polished diamonds into their workflow, and thus enhance the traceability of these diamonds.
Developed by the Cutwise Group, DiLog is a service module that builds a report with a photoreal rendered image of the polished diamond, using a Helium Polish scanner to produce unprecedentedly accurate digital reports that detail precise measurements of the scanned stones.
The costs of Cutwise DiLog basic reports are as low as €0,15 per stone scanned, putting them within reach of market segments that earlier would not have considered using diamond scans in their workflow.
iTraceiT’s CEO, Fredrik Degryse, said: “With Cutwise DiLog, our clients can choose to add yet another layer of security to each diamond. Our app is based on secure blockchain digital technology without requiring or inscribing any proprietary physical markings on the stones.
Therefore, when a customer adds the DiLog ID to a diamond registered by iTraceiT’s app, it offers an additional layer of security. The diamond cannot be swapped with any other stone since the data provided by iTraciT’s app, the stone’s grading report, and the DiLog ID cannot be matched to another diamond.”
Lexus Group’s CEO Janak Mistry, co-promoter of Cutwise, said: “We’re very pleased to be teaming up with iTraceiT and allow its customers to integrate the DiLog ID service into their iTraceiT -driven workflow. Awareness and demand for independent and affordable traceability applications are rising in the current market. We are happy to advance this important service in the diamond supply pipeline.”
Degryse added that Cutwise is making great strides in developing its Diamond journey/Rough to Polish story based on Lexus-Octonus technologies integrated with Cutwise.
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
