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In 2018, De Beers used blockchain technology to successfully track 100 high-value diamonds. [93] The diamonds were tracked through the manufacturing process from the mine to the retailer in order to ensure their quality and conflict-free status. [94]
The production and distribution of diamonds is largely consolidated in the hands of a few key players, and concentrated in traditional diamond trading centers, the most important being Antwerp, where 80% of all rough diamonds, 50% of all cut diamonds and more than 50% of all rough, cut and industrial diamonds combined are handled. [93]
The Malabar Gold & Diamonds was established in 1993 by M. P. Ahammed. Since 2000, the company has been on an expansion and was reported to be a group worth ₹500 crore in 2005. [6] The company claims that they are the first brand to offer only 100% BIS hallmark gold. [7]