Those efforts center on using blockchain technology and the Microsoft Cloud to create a digital ledger of each diamond\u2019s story \u2014 starting with where the stone came from, down to the precise excavation location, and following it as it is sorted, analyzed, transformed from rough stone to sparkling diamond and finally, delivered to the consumer.<\/p>\n Those \u201cmoments of truth,\u201d as HB Antwerp calls them, will enable diamond-mining countries to see how much value their stones generate, and conscious-minded buyers to know where their diamonds come from. They also create an enormous amount of data \u2014 over 3,000 verification points for each stone.<\/p>\n \u201cThe main challenge was that it\u2019s never been done before,\u201d says Shai de-Toledo, one of HB Antwerp\u2019s founders.<\/p>\n Realizing the need for a partner capable of scaling the solution to any country, HB Antwerp turned to Microsoft. The companies worked together to develop a blockchain ledger built on Microsoft Azure<\/a> and an enterprise resource planning system using Microsoft Dynamics 365<\/a>. Data from each diamond is stored in a proprietary IoT device, essentially a minivault that can\u2019t be opened without documenting that action in the ledger. (See a demo<\/a> of HB Antwerp\u2019s IoT capsule.) <\/em><\/p>\n The data is then uploaded to Power BI<\/a>, Microsoft\u2019s data visualization platform, to provide governments and mining companies with a real-time view of their diamonds\u2019 value appreciation. The goal, de-Toledo says, is to make information about each diamond available to consumers through a link to the ledger.<\/p>\n \u201cWe are trying to package this entire journey and deliver it to the consumer in a way that will create an environment that others find it very difficult to compete with,\u201d he says. \u201cHaving a ledger and a representation of the journey means that for the first time, consumers can ask themselves, \u2018Where did the diamond come from? What was its impact? Which people benefited from it?\u2019\u201d<\/p>\n The traditional diamond supply chain, de-Toledo says, has commodified diamonds and diluted their value, with many players involved and little benefit flowing to the countries and people who produce the diamonds.<\/p>\n \u201cFor more than a century, the diamond industry has made billions from obfuscating every stone\u2019s journey,\u201d he says. \u201cWhere it\u2019s from, who added value to it, how the value is \u2014 or isn\u2019t \u2014 benefitting local communities, or even what a fair price should be for consumers. We feel it\u2019s done so much harm that simply \u2018disrupting\u2019 feels like an evolution. This is a revolution.\u201d<\/p>\n A \u2018seismic shift\u2019 for Botswana<\/strong><\/p>\n Integral to HB Antwerp\u2019s mission is empowering local communities to benefit from the diamond industry and have a greater stake in its future. In Botswana, that has meant investing in the country, ensuring a fairer price for its diamonds and creating new opportunities for its people. The HB Antwerp Innovation Lab opened in Botswana in 2021 to train engineering and technology graduate students, particularly women, for careers in its facility there. Additionally, HB Antwerp will soon open an academy in Botswana to train local diamond polishers.<\/p>\n In 2020, HB Antwerp began implementing its new ecosystem under a partnership with the Lucara Diamond Corporation at its Karowe mine in Botswana. HB Antwerp is purchasing diamonds from the mine based on their value as polished stones, rather than the standard practice of paying for rough product. That has resulted in 40% higher diamond royalties to the Botswana government over the past two years, according to HB Antwerp.<\/p>\n Botswana President Mokgweetsi Masisi characterized the new approach as a \u201cseismic shift\u201d for the country. \u201cI can tell you we do not want to revert to the standard we had,\u201d he says.<\/p>\n At a U.N. General Assembly event in September, Masisi said he thinks HB Antwerp\u2019s approach could be used by other African countries and can help meet the Sustainable Development Goals (SDGs<\/a>) adopted by U.N. member states.<\/p>\n \u201cWe want to go out and really market this,\u201d he said. \u201cWe want to see the relationship between African governments and those who they partner with fundamentally change. There\u2019s no reason to think we\u2019re going to attain the SDGs with (current) models. It just won\u2019t work.\u201d<\/p>\n Ultimately, says HB Antwerp co-founder Rafael Papismedov, the goal is to provide knowledge and training that will enable Botswana and other African countries to have greater ownership over their natural resources and grow their economies.<\/p>\n \u201cWe believe the future of this industry is to transform the diamond in the country of origin,\u201d he says. \u201cThis mineral belongs to the people, and it\u2019s the people that will be involved in every step of it.\u201d<\/p>\n![\"Close-up](\"https:\/\/www.sickgaming.net\/blog\/wp-content\/uploads\/2022\/11\/moments-of-truth-belgian-company-hb-antwerp-is-using-blockchain-to-track-each-diamonds-story.jpg\")
![\"Photo](\"https:\/\/www.sickgaming.net\/blog\/wp-content\/uploads\/2022\/11\/moments-of-truth-belgian-company-hb-antwerp-is-using-blockchain-to-track-each-diamonds-story-1.jpg\")
![\"Outdoor](\"https:\/\/www.sickgaming.net\/blog\/wp-content\/uploads\/2022\/11\/moments-of-truth-belgian-company-hb-antwerp-is-using-blockchain-to-track-each-diamonds-story-2.jpg\")
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