Amidst the challenges posed by the Covid-19 pandemic, diamond dealer Bruno Scarselli utilized his time to pursue online blockchain courses, aiming to create a comprehensive system for tracing diamonds from their origins in the mines to the hands of consumers.
The fruition of his efforts is a groundbreaking platform, unveiled last month, which not only offers detailed information about a diamond’s provenance but also meticulously tracks its journey, including reports, documentation, and unique identifiers. According to Scarselli, the platform also introduces its own certificates of origin and titles of ownership, enhancing transparency and traceability within the diamond trade.
In an interview with Rapaport News, Scarselli emphasized the uniqueness of their project, stating, “Our project is the only one that maps out the complete journey of rough diamonds across continents. It provides a comprehensive life history, from its raw form with the accompanying certificate.” He emphasized that the primary focus is on the product itself.
Utilizing patented technology akin to blockchain, the platform is designed to seamlessly integrate with other blockchain systems dedicated to tracing diamond origins. Describing it as a “bridge” connecting various blockchain networks, Scarselli highlighted its versatility and compatibility.
The system assigns a unique token to each diamond, inscribed directly into the gem, ensuring precise identification and tracking capabilities, Scarselli explained.
Addressing the limitations of existing blockchain platforms, which are often accessible only to select entities such as De Beers sightholders and diamond companies, Scarselli expressed his intention to democratize access. “I am looking to license my patent,” he stated, aiming to extend the use of his technology to any retailer interested in participating in the system.
Currently holding contracts with 97 small mines in Africa, Scarselli has established an office in Kimberley, South Africa, signaling his commitment to expanding the platform’s reach. He emphasized the potential benefits for large-scale mining operations, which often grapple with the challenge of aggregating diverse sources of rough diamonds.
“They have rough coming from Libya, Botswana, South Africa, and other countries,” Scarselli explained. “Aggregating these products poses a significant challenge for major mining concerns. A patent like mine can provide valuable insights into the origins of each piece of rough.”
