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Russian Diamond Producer Alrosa Joins De Beers’ Blockchain Traceability Platform Pilot

Russian diamond mining giant Alrosa has joined the pilot program of fellow industry giant De Beers’ end-to-end diamond industry blockchain traceability platform Tracr. Alrosa specialize in exploration, mining, manufacture and sale of diamonds. The company leads the world in diamond mining by volume. It is Russia’s leading diamond company accounting for 95% of country’s diamond production and 27% of the global diamond extraction. Founded in 1888, De Beers is an international corporation that specializes in diamond exploration, diamond mining, diamond retail, diamond trading and industrial diamond manufacturing sectors. It sells approximately 35% of the world’s rough diamond production through its global sightholder sales and auction sales businesses. Tracr, which was first announced by De Beers in December 2017, provides a single, immutable record that traces a diamond’s individual journey through the value chain. The platform is meant to give buyers confidence that the stones they are buying aren’t fakes or conflict diamonds, also known as blood diamonds. It works by creating a digital certificate for each diamond that records key attributes and transactions. De Beers’ first successfully implemented the platform to track 100 high-value diamonds in May of this year. De Beers said Alrosa’s involvement with Tracr would provide enhanced assurance for consumers and trade participants about the provenance and authenticity of their diamonds, and in creating a digital foundation for new services that can only be developed on an end-to-end platform. “We are delighted that Alrosa has joined the Tracr pilot, as the collective efforts of the world’s two leading diamond producers will enable more of the world’s diamonds to be tracked on their journey from mine to retail,” said Bruce Cleaver, CEO of De Beers Group. “Having a critical level of production on the platform will deliver significant benefits for consumers and diamond industry participants.” Sergey Ivanov, CEO of Alrosa, said that traceability is the key to further development of the diamond market. “Traceability helps to ensure consumer confidence and fill information gaps, enabling people to enjoy the product without any doubts about ethical issues or undisclosed synthetics,” Ivanov said. “Alrosa is glad to participate in testing Tracr, along with other market solutions. We believe tracing requires industry cooperation and complementation for the sake of a common goal.”
BlockTribune

World’s Largest Diamond Producer Alrosa Joins De Beers’ Blockchain Pilot

World’s Largest Diamond Producer Alrosa Joins De Beers’ Blockchain Pilot The world’s largest diamond mining firm, Russia’s Alrosa, has joined the pilot of fellow industry giant De Beers’ diamond supply chain blockchain platform “Tracr,” mining industry news outlet Mining Weekly reports Oct. 29. Alrosa is reported to be the world’s largest producer of raw diamonds in carat terms; together with De Beers, the two firms… The post World’s Largest Diamond Producer Alrosa Joins De Beers’ Blockchain Pilot appeared first on Altcoin Today.
Altcoin Today

De Beer’s Tracr Blockchain Trial Adds Russia’s Alrosa Diamond Mining Firm

Alrosa, a Russian diamond mining firm that is the largest in the world right now, has decided to join forces with De Beer in order to use its blockchain platform Tracr. The largest producer of raw diamonds in carat terms has made the partnership to use the blockchain to track diamonds. At the moment, Alrosa and De Beers supply half of the diamonds in the world and their sales rose 12% in the last quarter. Tracr was announced as a solution that can be used to track diamonds in an effort to improve the transparency of the market and to create more trust from the consumer. It creates a digital certificate for each diamond made by the company and it records any transactions and the characteristics of the diamond. As the data is stored in the immutable blockchain, clients can verify the data before they buy the diamonds to be more safe than they would do without this measure. There is also the issue that many people are not keen on buying “blood diamonds”, which are mined illegally in war zones and generally used to fund combat. The companies have affirmed that they started this new partnership because they deemed that it was necessary to move together in order to cooperate for a common goal like the Tracr blockchain, which will exist alongside with some other regulation that it is already actuant today like Kimberley Process Certification Scheme, World Diamond Council System of Warranties and Responsible Jewellery Council Code of Practices. Tracr was first developed by De Beers in a joint effort with Diacore, Diarough, KGK Group, Venus Jewel and Rosy Blue NV and first implemented in May. Some other companies like Signet Jewelers have also entered the partnership later.
Bitcoin Exchange Guide

World’s Largest Diamond Producer Alrosa Joins De Beers’ Blockchain Pilot

World’s Largest Diamond Producer Alrosa Joins De Beers’ Blockchain Pilot The world’s largest diamond mining firm, Russia’s Alrosa, has joined the pilot of fellow industry giant De Beers’ diamond supply chain blockchain platform “Tracr,” mining industry news outlet Mining Weekly reports Oct. 29. Alrosa is reported to be the world’s largest producer of raw diamonds […] Cet article World’s Largest Diamond Producer Alrosa Joins De Beers’ Blockchain Pilot est apparu en premier sur Bitcoin Central.
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OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts

The recent popularity Initial Exchange Offerings (IEO) have been experiencing over the last few months has brought what it appears to be like a new bull run. An incredible example of success is the OKB token issued by OKEx, one of the largest cryptocurrency exchanges by trading volume in the world, which has impressed the market beyond expectations having experienced an increase in the price of 163% since launched. Shinobi Capital, a leading blockchain advisory firm and also an investor in early-stage start-ups, has released its latest evaluation report estimating that the OKB price will grow further to US$30.75, 17 times the current price, by the end of 2020. According to Jason Hill, the founding partner of Shinobi Capital:  Exchanges tokens will be the powerhouse of the development of the digital asset market and even blockchain technology. Following a series of IEOs powered by exchange tokens in H1 2019, the market is marching to the next round of bull run. OKB, as a market leader of exchange tokens, is also welcoming its own uptrend. Backed by a number of use cases and a large user base of OKEx, OKB has demonstrated a huge potential of growth. The established blockchain and cryptocurrency advisory firm is well-known for its extensive experience in start-up investment. In their evaluation report of OKB, Shinobi Capital lays out the two most important factors that will affect OKB’s future trading volume, the development of the OKChain mainnet and the overall the crypto market condition. Furthermore, the report also establishes a comparative evaluation model with other major platform tokens, including Binance Coin (BNB), EOS, and TRON (TRX). This comparative evaluation studies different aspects of each token such as trading volume, price patterns, and usage demand. The latest OKB buy-back & burn program is also taken into account to evaluate the token’s future price trend. It is expected that by the end of 2020, the price of OKB will reach USD30.75 and its market capitalization will be about USD7.068 billion. There is a significant growth lag in OKB at this stage, and the potential of price growth needs to be further released. In the next round of market recovery and boom, OKB is likely to become one of the fastest-growing assets in the market. Disclosure: This is a sponsored press release The post OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts appeared first on NullTX.
NullTX

Ethereum Classic presents roadmap to improve DApp development and overall infrastructure

Experts of the cryptospace are making use of DApp services to simplify the entire blockchain process. Along these lines, Ethereum Classic’s [ETC] core development team has put forth an initiative to revamp its existing ecosystem. Moving forward with an aspiration for refinement, ETC’s team is developing fresh features over blockchain technology, a development that will […] The post Ethereum Classic presents roadmap to improve DApp development and overall infrastructure appeared first on AMBCrypto.
AMBCrypto

David Marcus Grilled During Facebook's Senate Hearing

During the first of two congressional hearings regarding Facebook's Libra cryptocurrency, project lead David Marcus went as far as to say he'd be willing to take his salary in Libra after intense grilling from Senator Sherrod Brown.
Ethereum News

David Marcus Questioned Over Libra by Congress

Facebook is finally facing its reckoning as David Marcus, head of the company’s blockchain division and the leader of Libra, the venture’s new cryptocurrency, was grilled by Senate members who refuse to believe in Facebook’s allegedly noble financial plans. Libra: A Congressional Issue? Many people have a hard time believing in Facebook’s morality following the Cambridge Analytica scandal. Discovered in 2018, Facebook had allegedly been selling users’ private data for years to third parties for advertising purposes. Following Mark Zuckerberg’s Senate hearing last year, trust in Facebook has fallen to an all-time low. In many ways, this new “congressional step” for the social media conglomerate should serve as a huge learning experience. When you’re a company of Facebook’s size and you do anything to compromise the safety or privacy of your customers, you can bet it’s going to take a long time to earn their trust back. Facebook is learning this lesson in spades right now, as several Senators taking part in the hearing commented about the lack of trust they feel towards the company and its executive team. Sherrod Brown, a Democrat from the state of Ohio, commented:  Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. We’d be crazy to give them a chance to let them experiment with people’s bank accounts. Senator Martha McSally, a Republican from Arizona, stated that Facebook is simply trying to shift gears and get people to focus on something else entirely, in this case cryptocurrency. Rather than seriously attempt to fix its reputation, it’s working to divert people’s attention with an entirely new product. She says: I don’t trust you guys. Instead of cleaning up your house, you are launching into a new business model. In addition, Facebook is also being criticized for its complete lack of coordination with policymakers. Throughout the early development of Libra, Facebook’s executive team failed to make any contacts with regulators or legal authorities to potentially understand how the cryptocurrency could better satisfy present financial laws and terms.  Trust Takes a Long Time to Build At least David Marcus isn’t lying to himself. He acknowledged during the hearing that it would likely take a while before the company can earn people’s trust well enough that they would provide their banking details. He states:  I want to make it clear that we are only at the beginning of the journey. We expect the review of Libra to be one of the most extensive ever. Facebook will not offer the Libra currency until we have addressed the concerns and receive appropriate approvals… We will not control Libra and will be one of over 100 participants that will govern over the currency. We will have to gain people’s trust if we want people to use our network over the hundreds of competing companies. The post David Marcus Questioned Over Libra by Congress appeared first on Live Bitcoin News.
Live Bitcoin News

Waves CEO Has Sold His Stake At Vostok, A Waves Blockchain Affiliated Project

Alexander Ivanov, the founder, and CEO of Waves has recently decided to fully sell his stake of Vostok, blockchain spin-off of the Waves platform. According to a recent press release, now only the GHP Group, which bought all the stakes, will be the owner of the project. The CEO also affirmed on the press release that […]
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