Diamond industry must embrace digital innovation
DMCC’s report on diamond, emphasises traceability & transparency DMCC has released its latest Future of Trade report, a special edition focused on advancing traceability in the global diamond supply chain. The report outlines six key recommendations! Industry must set its own standards: Industry must preserve the ability to set its own standards when it comes to traceability by setting up a task force of industry experts, the “Expert Group on Traceability and Transparency”, to outline recommendations of minimum viable levels of traceability and transparency by March 2025. Develop an interactive ledger: Industry must maintain a comprehensive register of available technologies, detailing their capabilities, limitations, unique features and areas of technological and economic viability. Promote a technology-agnostic approach: To fully embrace digital innovation, it is important to maintain a “technology-agnostic” approach to safeguard the dynamic nature of traceability technologies.