diamond traceability Archives - Hari Krishna

A Buyer’s Handbook on How to Verify Diamond Traceability

Learn how to verify diamond traceability, ensuring transparency & authenticity in every purchase. Discover essential insights in our handbook.

Conscientious buyers worldwide are concerned about diamond traceability. The allure of natural diamonds is in their beauty. It is on their journey from the depths of the earth to adorning a piece of jewellery.

This buyer’s handbook looks at the importance of verifying diamond traceability. It offers insights into key factors, certifications, the latest technology, and industry initiatives.

What is Diamond Traceability?

Diamond traceability refers to the ability to track the origin and journey of a diamond from extraction to final form.

This process involves documenting crucial information about the diamond. It includes the source mine, its route through the supply chain, and any transformations it undergoes.

Why Verify Diamond Traceability?

Preserving Ethical Practices

Diamond traceability is fundamental for ensuring ethical sourcing. By verifying traceability, buyers contribute to avoiding conflict diamonds, or “blood diamonds.”

War zones are the source of blood diamonds, which fund armed conflict against governments.

Ensuring Authenticity

For luxury goods like diamonds, authenticity is paramount. Verifying traceability guarantees that the diamond you are purchasing is genuine. It has not undergone any illicit treatments or substitutions during its journey through the supply chain.

Environmental Considerations

Ethical and environmentally conscious buyers want confirmation that the diamonds they buy come from sustainably mined resources. Traceability allows buyers to make informed choices by supporting ecologically responsible practices.

Key Factors to Consider

Documentation

Ensure that the diamond comes with detailed documentation outlining its journey. This documentation is often known as a diamond certificate. It should include information about thediamond’s cut, colour, clarity, carat weight, and, most importantly, its origin.

Transparency in the Supply Chain

Choose diamond companies that are transparent about their supply chain. Knowing each step of the diamond’s journey fosters trust and allows you to make informed decisions.

Laser Inscriptions

Some diamonds carry laser inscriptions on their girdle, the outer edge. Buyers can cross-reference the unique identification number on the inscriptions with the diamond’s certificate.

Transparency of the Cut and Polishing Process

To add another layer of traceability, understanding the location and process of cutting and polishing your diamond is important. Look for companies that disclose information about their manufacturing processes.

Certifications and Standards

Certifications and adherence to industry standards play a pivotal role when verifying diamond traceability.

Kimberley Process Certification Scheme (KPCS)

The Kimberley Process aims to prevent the trade of conflict diamonds. Ensure that the diamond you are interested in comes with a Kimberley Process certificate. It guarantees the conflict-free nature of the diamond.

Responsible Jewellery Council (RJC)

Look for diamonds from sellers who adhere to the standards set by the Responsible Jewellery Council. The RJC certification covers ethical, social, and environmental practices throughout the diamond’s journey.

The Gemological Institute of America (GIA)

GIA is a renowned gemological laboratory that provides grading reports for diamonds. GIA ensures accurate and unbiased assessments of a diamond’s characteristics, contributing to its traceability.

Fair Trade Certification

This focuses on fair labor practices, environmental sustainability, and community development. It ensures the sourcing of diamonds in a socially responsible and environmentally conscious manner.

Blockchain Technology

In the digital age, blockchain technology is revolutionising diamond traceability. Blockchain creates an immutable and transparent ledger that records every transaction in the diamond supply chain.

How Blockchain Works

The blockchain records a unique identifier for each diamond. As the diamond progresses through the supply chain, all transactions, from mining to retail, add a block to the chain. This ensures transparency and traceability by creating an irrevocable record for all parties.

Advantages of Blockchain in Diamond Traceability

Enhanced Security: Immutable blockchains ensure tamper-proof records.
Accurate Traceability: Transparent and trustworthy source-to-market tracking.
Fraud Prevention: Minimises risks through decentralised, verifiable information.
Immutable Records: Establishes an unchangeable history of each diamond’s journey.
Compliance Assurance: Meets industry standards and regulatory requirements seamlessly.
Consumer Confidence: Empowers buyers with verified, real-time information.
Cost Reduction: Reduces expenses associated with auditing and fraud investigations.

Initiatives within the Diamond Industry

Several initiatives within the diamond industry focus on promoting ethical practices and traceability.

Everledger

Everledger is a blockchain-based platform that tracks the provenance of diamonds. It provides a digital ledger for each diamond, offering buyers a transparent view of its journey.

Tracr

The De Beers Group supports Tracr, which uses blockchain to create a digital certificate for each diamond. This initiative aims to enhance consumer confidence by providing a secure and transparent way to trace diamonds.

iTraceiT

iTraceiT is another notable initiative in the diamond industry. This platform ensures transparency in the supply chain, offering a secure and unalterable record of a diamond’s origin and journey.

Buying Traceable Natural Diamonds

As a buyer, when you choose a diamond with a verified traceable history, you are contributing to a more ethical and sustainable diamond industry. Always demand transparency, documentation, and adherence to certifications and standards.

For a curated selection of traceable diamonds and ethical practices, explore Hari Krishna Exports. As a leading natural diamond manufacturer in India and the US, our commitment to transparency and excellence aligns with your desire for responsibly sourced luxury.

Download our hk.co app on multiple platforms, including Android and iOS.

A journey that reflects your values and celebrates the allure of diamonds

Power of Diamond Traceability: Building Trust in the Supply Chain

In an interconnected world, trust is the key for businesses to thrive. In the dazzling realm of diamonds, trust has been a burning issue. Nevertheless, the new era of diamond traceability has brought forth a revolution in the diamond industry.

The journey of a diamond from its source to the hands of its owner has been wrapped in mystery. This lack of transparency in the diamond supply chain has led to issues such as conflict diamonds, human rights abuse, and environmental degradation.

What is Diamond Traceability?

Diamond traceability is tracking a diamond from its origin to the end product. It involves recording and documenting information about each step in the diamond supply chain, including the mining, cutting, polishing, and distribution processes.

The rise of technology and growing awareness has paved the way for the advancement of diamond traceability.

Why is Diamond Traceability necessary?

“An increasing share of end clients want to make sure that their diamond’s values match their own, so issues of provenance – not just where a diamond came from, but how it was recovered and how it has benefited people and the planet – are becoming more significant,” said Feriel Zerouki, Senior Vice-President of Corporate Affairs at De Beers Group.

Ethical Sourcing: Ensures diamonds are sourced ethically, without supporting conflict or human rights abuses. It gives buyers confidence that the diamonds they purchase have been obtained responsibly and rightly.

Transparency and Trust: Builds trust among consumers by clarifying the diamonds’ origin, processing, and journey.

Counteracting the Issue of Blood Diamonds: Diamond traceability is instrumental in the fight against blood diamonds or conflict diamonds. It helps eliminate the circulation of diamonds associated with violence and unethical practices.

Environmental Responsibility: Promotes environmentally responsible practices in diamond mining and processing.

Supporting Local Communities: Enables consumers to support diamond companies that prioritise fair labour practices and contribute to the well-being of local communities.

Benefits of Tracing Diamonds

Customer Confidence: Assures consumers that diamonds are sourced responsibly. It allows them to make informed choices aligned with their values, enhancing their confidence in the diamonds they purchase.

Verification of Authenticity: By tracking a diamond’s journey, consumers can confirm that the diamond they possess is genuine and not a counterfeit or synthetic stone.

Quality Assurance: By tracking the entire process – from mining to distribution – companies can provide clients with superior quality diamonds and craftsmanship.

Industry Accountability: Encourages transparency, ethical practices, and high standards throughout the supply chain.

Improved Supply Chain Efficiency: By accurately documenting each step, companies can identify and address inefficiencies, reduce waste, and improve productivity. This efficiency benefits both the industry and consumers by ensuring a smooth and reliable supply of diamonds.

Sustainability and Responsible Practices: It encourages companies to implement environmentally friendly mining methods, supports local communities, and minimises the industry’s social and environmental footprint.

Technologies Revolutionising Diamond Traceability

Innovative technologies are revolutionising diamond traceability, making it more robust and reliable:

Blockchain

Blockchain technology has emerged as a game-changer in diamond traceability. Each diamond receives a unique digital identity, enabling easy verification of origin, characteristics, and ownership. By leveraging it, companies can instil confidence and trust in consumers.

Laser Inscriptions

Through advanced laser technology, unique identification numbers or codes can be inscribed on the diamond’s girdle, the outer edge of the diamond’s circumference. The code corresponds to the diamond’s digital record, allowing for seamless traceability.

Digital Certificates

Often in the form of encrypted files or online databases, digital certificates provide comprehensive information about a diamond’s journey. It includes data about the diamond’s cut, colour, clarity, carat weight, and origin.

Platforms to Trace the Diamonds

With the surging demand for traceable diamonds, several platforms are launched with the help of technology that provides comprehensive identification for diamonds. These advanced traceability methods enhance the customer’s purchasing journey. Among these platforms, widely recognised names are:

iTraceiT

It maintains and provides blockchain and QR-code-based software solutions. These cutting-edge tools enable tracking and tracing the journey of our diamonds through every step of the supply chain. It guarantees the authenticity and quality of diamonds.

Read more about our collaboration with iTraceiT: Hari Krishna Export Collaborates with iTraceiT to Ensure Diamond Traceability through Innovative Technology.

Tracr

It utilises several technologies to generate an exclusive, tamper-proof digital fingerprint for individual diamonds. It enables comprehensive diamond tracing from its origin to manufacturing. Each step of the process is meticulously recorded, ensuring complete transparency.

Partnership with Everledger

Everledger, a global emerging technology enterprise and we, HK Exports, one of the largest diamond manufacturers and exporters in India, have marked a new milestone with digital provenance tracking for diamonds to secure and trace the diamond provenance of our flagship private label brand, My Diamond Story, using blockchain technology.

With this new development, we are pleased to bring the benefits of blockchain technology to scale. This alliance follows our initiative to incorporate blockchain into our updated mobile app for diamond buyers, built on three primary objectives – simplicity, speed and security.

HK’s Commitment to Diamond Traceability

The power of diamond traceability goes beyond its technical capabilities. Building trust in the supply chain creates a ripple effect of positive change throughout the diamond industry.

As we move forward, embracing the competency of diamond traceability will be crucial in shaping a responsible and trustworthy future for the industry, ensuring that every diamond tells a story of integrity and social impact.

Hari Krishna Exports aims to promote a more sustainable and ethical diamond industry by leveraging innovative technologies through alliances with platforms like iTraceiT and Tracr. These collaborations will strengthen our capability to provide our customers with high-quality, responsibly-sourced diamonds.

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