The Israel Diamond Exchange (IDE) has signed a Memorandum of Understanding (MOU) with Authentia, which offers the diamond industry's first legally recognised protocol on public blockchains, providing the most comprehensive solution for diamond origin and authenticity.
This collaboration is a significant step in promoting innovation, trust and transparency in the diamond industry, IDE noted in a press release.
“Authentia's advanced blockchain technology will allow us to strengthen trade security, improve verification processes, increase efficiency in the industry, and most importantly, bring quality rough to the Israel Diamond Exchange,” said IDE president Nissim Zuaretz.
“This is another step in the ongoing effort of the Diamond Exchange to lead the industry forward and create smarter and safer solutions for its members.”
Earlier, as reported by Rough&Polished, the African Diamond Manufacturers Association (ADMA) has also signed a MOU with Authentia to advance traceability efforts in the global diamond industry.
Theodor Lisovoy, Managing Editor, Rough&Polished
