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 integrate into a worldwide system 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 . The global demand for rough stones has continued to fall as polished , market - ready diamonds are less profitable . De ##mand sales were down 33 % from 2018 and Tiffany faces 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. The global demand for rough stones has continued to fall as polished, market-ready diamonds are less profitable. De Beers sales were down 33% from 2018 and Alrosa experienced the same difficulties.