Technology in the diamond industry
A lot has changed in the diamond industry over the years. And the most important change came with technology. Like every other field which has undergone revolutionary change with the help of technology, the diamond industry has progressed too.
There are several stages in the process of creating a final product, which is the diamond. The very first stage is the survey of the geographical area which is suitable for mining. Previously, the only magnetic surveying was a possible option. The more advanced seismic reflection technology that allows surveyors to locate diamonds way deep inside the Earth.
The mining, cutting, and polishing of diamonds involve the use of several new technologies that were not available earlier. For consumers, the digitisation of the entire process holds more value.
A classic example of digitisation in the diamond industry is online jewellery stores. Offline brick-and-mortar stores still do exist and serve their own purpose. However, to save a consumer’s time, online is a good option. Retailers are also alert to the need for secure transactions since more and more consumers move to shop online.
The way in which the information about your diamond is stored is also digitised.
It is quite difficult to know every diamond’s journey from inside the Earth to a jewellery box. Blockchain technology records and stores the data in an easily accessible format. A good example of this is the Divine Solitaires digital solitaire experience. A Unique Identification Code (UID) unlocks the details of every diamond.
This alpha-numeric code is used to track the quality and pricing of the diamond. One can know the change in the prices whenever they want to, even 10 years ago!
When a customer purchases a Divine Solitaires diamond, they can know its origin, the planned model and the final product. The information for every stone is different, which also includes the mines from where they come.
The UID on your diamond certificate as also on the girdle of the diamond. One can view this number only under 10X magnification. Hence, everyone who sees the diamond will not be seeing the number but just the stone.
Does technology come with security?
So unless your stone or the certificate is misplaced, there is no real risk of anyone else knowing the UID. Hence, no other person can use that code to find out more personal details of the diamond.
With digitisation, there is no need for one to use any printed information. Whatever the consumer wants to know about their diamond is within the application.
People choose to safely keep away a printed copy of the diamond certificate. However, if they need to access it, they can use the UID on the application and access the report.
Moreover, digital experience is a much better way to engage consumers. With a whole lot of information that is easily accessible at their fingertips, things are easy. Of course, it is necessary to always revive and revamp this experience to keep up with the changing consumer behaviour. This also includes securing their information so that they feel safer about having their information in a digital form.
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