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The group of Russian companies dedicated to diamond mining revealed this December 25 that are analyzing how to implement blockchain solutions that allow the customer to trace the origin of a diamond since it is extracted from the mine until it is delivered to the buyer.

Alrosa revealed to the Rapaport Diamond Report that the company intends to apply blockchain technology to guarantee the origin of its diamonds, both polished and rough. This would allow to have real security on the mining site and the subsequent processes applied on each stone. The blockchain saves every data entered with the exact date and time in the chain and these can not be deleted or modified once entered.

If the industry manages to build a tracking system, this would solve several problems and challenges that are currently facing.

This will allow [the industry] to close the problems of conflicting diamonds, as well as undisclosed synthetic ones. In an ideal scenario, the traceability system should seek and provide information about the time and place of mining of a rough diamond, information about the manufacturing and all the processes through which the stone passed before reaching the shelves of the store .

The corporation is taking its first steps in this area, since it has already put into practice the issuance of a paper certificate with a unique number that shows the origin of each of the mined diamonds and information of the mine in which it was obtained. . The idea is to extend this process towards a platform based on distributed accounting technology that in principle will work for the Russian market, but with positive results, could be extended to other countries. No details have yet been given about the blockchain that will be used to develop this platform.

## OTHERS OF THE INTERESTED IN ADDING DIAMONDS TO THE BLOCKCHAIN
Alrosa is one of the first business groups in the world in the area of ​​diamond mining, its mines have proven reserves that represent one third of the world total. However, they are not the first to consider adopting the blockchain technology to validate their assets.

The renowned group of companies dedicated to the marketing of diamonds, De Beers, announced in early December that they will invest in a platform based on blockchain technology so that consumers can trace the origin and certification of their jewelry. They assured that the data referring to these can be consulted individually without revealing more sensitive information to other users.

For its part, Everledger revealed last year its platform based on the blockchain of the Hyperledger Project to verify diamonds in the rough under the Kimberley process mandated by the UN. The Kimberley process was established by the UN since 2002 to prevent the entry into the market of the well-known blood diamonds, those that are obtained in a war zone through the use of slave labor, usually to finance the conflict itself.

The company remains involved in projects that guarantee diamonds from legal origins. The Singapore Diamond Exchange Exchange (SDiX) brokerage recently partnered with Kynetix and Everledger to test a new solution based on the blockchain, which seeks to improve the process of verification and record keeping for the diamond trade.