The African Diamond Council (ADC) has established a new joint-venture undertaking with Authentia, the world’s first patent-driven title contract for natural, rough, and polished gemstones.
The ADC said it has signed a contract that will connect Africa's natural rough diamonds to Authentia's revolutionary blockchain and nanotechnology.
The platform, it said, will secure the traceability aspects of natural, rough, and polished diamonds at every level of the diamond ecosystem.
“Over the last decade, the ADC has carefully examined and considered the potential implementation of various blockchain alternatives,” said ADC chairperson M'zée Fula Ngenge.
“Oftentimes, the ADC has collectively gotten close to making a decision, however, widespread application in Africa’s diamond-producing countries has always exposed ingrained, defenseless and unexpected loopholes when it comes to failing to reveal the gemstone’s chemical composition.
“Having said that, the pioneering discoveries presented by Authentia are what the global diamond industry requires and precisely what African diamond mining concessions need to validate origin and guarantee widespread consumer confidence by identifying the mine where the diamond was extracted as well as its country of origin.”
De Beers has already rolled out the Tracr platform that provides business-to-business source assurance.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
The ADC said it has signed a contract that will connect Africa's natural rough diamonds to Authentia's revolutionary blockchain and nanotechnology.
The platform, it said, will secure the traceability aspects of natural, rough, and polished diamonds at every level of the diamond ecosystem.
“Over the last decade, the ADC has carefully examined and considered the potential implementation of various blockchain alternatives,” said ADC chairperson M'zée Fula Ngenge.
“Oftentimes, the ADC has collectively gotten close to making a decision, however, widespread application in Africa’s diamond-producing countries has always exposed ingrained, defenseless and unexpected loopholes when it comes to failing to reveal the gemstone’s chemical composition.
“Having said that, the pioneering discoveries presented by Authentia are what the global diamond industry requires and precisely what African diamond mining concessions need to validate origin and guarantee widespread consumer confidence by identifying the mine where the diamond was extracted as well as its country of origin.”
De Beers has already rolled out the Tracr platform that provides business-to-business source assurance.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
