The African Diamond Manufacturers Association (ADMA) has signed a ‘transformative’ Memorandum of Understanding (MoU) with Authentia.io to advance traceability efforts in the global diamond industry.
ADMA said it endorsed and incorporated the Authentia platform as it offered a four-pronged or multi-layered traceability solution.
These are certificates of origin, which empower and market the source mines as well as the country of origin; a much-needed “public” blockchain technology that is fully compatible with each “private” blockchain that was being presented; nanotechnology and diamond titles of ownership, comparable to those applied to vehicles and property.
“Under scrutiny and assessment, Authentia’s platform has presented ADMA with the much-needed validation needed to subscribe to the advanced platform,” said ADMA president António Oliveira.
“The technical team’s open-minded approach with regard to what the African diamond industry truly requires is what provides this promising platform for natural diamonds and gemstones with a bona fide opportunity to thrive, survive, and give prominence to provenance.”
The Authentia platform falls in line with ADMA’s efforts to assist in filling the voids of the Kimberley Process diamond certification scheme.
“Pilot programmes are now underway in several African diamond-producing countries, and we are encouraging the most pertinent diplomatic and political international organisations to embrace our recommendations,” he said.
Meanwhile, Authentia founder and managing director Bruno Scarselli said his company seeks to fulfil the dream of establishing an “unambiguous trajectory” within the bounds of the global diamond industry, where systems of governance and foregoing diamond initiatives have failed to produce and furnish diamond-producing countries with an ethical path to the consumer.
“Beyond a shadow of a doubt, Authentia’s preferred technological tools and rule of law will certainly prevail given that [it] is a truly collaborative platform that is proving to attract and unify the most serious blockchain developers in the diamond space,” he said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
