Amid the challenges posed by the Covid-19 pandemic, Bruno Scarselli, a prominent fancy-colored diamond dealer, utilized his downtime to delve into online blockchain courses with a singular objective: to devise a seamless system for tracing diamonds from their source in the mine to the hands of consumers.
The culmination of his efforts is Authentia.io, a groundbreaking platform launched last month, which not only furnishes a diamond’s origin but meticulously tracks its journey through various reports, documentation, and identifiers, according to Scarselli. The platform will also issue its own certificates of origin and titles of ownership, thereby enhancing transparency and traceability within the diamond industry.
“Our project stands alone in mapping out the complete trajectory of a rough diamond across continents. From its raw state to the final certificate, every aspect of its life history will be documented,” Scarselli explained to Rapaport News. “It’s all about the product.”
Employing patented technology akin to blockchain, Authentia.io is designed to seamlessly integrate with existing blockchain systems dedicated to diamond traceability. “Think of it as a bridge that connects with every blockchain,” Scarselli elucidated.
Each diamond is uniquely identified through a token inscribed within the gem, ensuring its traceability and authenticity, he added.
While most blockchain platforms are accessible solely to De Beers sightholders and diamond companies, Authentia.io aims to democratize access, catering to all stakeholders involved in the financial transactions pertaining to diamonds.
“I am seeking to license my patent,” Scarselli stated. His vision entails extending licensing opportunities to retailers eager to embrace the system.
Presently, Scarselli boasts 97 contracts with small mines across Africa, with an office recently established in Kimberley, South Africa. He believes that large-scale mining operations could derive significant benefits from the platform, particularly in addressing the challenges associated with product aggregation.
“These operations source rough diamonds from various countries, necessitating meticulous aggregation processes. A patent like mine can provide crucial insights into the provenance of each rough diamond,” he emphasized.
In addition to the existing patent, Scarselli is actively developing a second patent centered around a smartphone application capable of scanning the diamond’s inscription. This innovation will empower retailers to trace the diamond’s journey from its origin mine to the processing lab, providing comprehensive insights into its history.
Furthermore, Scarselli affirmed that initial usage of Authentia.io would be free of charge, signaling his commitment to revolutionizing the industry with an unparalleled product. “I possess a unique offering that holds immense potential for the entire industry,” he concluded, eagerly anticipating its integration across the diamond trade landscape.
