Tiffany & In a move to court younger customers and boost demand, Russian diamond producer Alrosa PJSC has produced a video passport with an electronic identity key for its stones. The initial selection will include 2,000 diamonds and feeds into a worldwide demand for better traceability of diamonds. Tiffany & Co announced a similar move earlier in the year, and De Beers launched its own blockchain-based system last year. “Blockchain is going to be very important as we go forward,” said David Goldwyn, president of the American Gem Trade Association. De Beers sales were down 33% from 2018 and Alrosa experienced the same difficulties.
In a move to court younger customers and boost demand, Russian diamond producer Alrosa PJSC has produced a video passport with an electronic identity key for its stones. The initial selection will include 2,000 diamonds and feeds into a worldwide demand for better traceability of diamonds. Tiffany & Co announced a similar move earlier in the year, and De Beers launched its own blockchain-based system last year. “Blockchain is going to be very important as we go forward,” said David Goldwyn, president of the American Gem Trade Association. De Beers sales were down 33% from 2018 and Alrosa experienced the same difficulties.