Dubai: In something of a departure, Kimberley Process (KP) Chair Ahmed Bin Sulayem released a mid-term report about the organization’s activities so far. Some of the initiatives included visits to diamond mining countries in Africa, valuation seminars, and putting under consideration a proposal for using blockchain technology in the diamond industry for greater security.
Blockchain has been described as an internet-based book-keeping system that “provides a permanent record of financial transactions”. This is viewed as an effective way of keeping track of the journey of diamonds through the value chain in order to ensure they are “clean”.
“We have introduced the possibility of using blockchain technology to create a seamless and continued global process for the KP certification scheme,” Bin Sulayem has been quoted by media as saying.
Announcing the publishing of the mid-term report, Bin Sulayem said: “This year the Kimberley Process Chair has taken concrete steps to support the efforts of various groups and monitoring teams, to ensure that some of the world’s poorest diamond producing countries are able to join or come back into the KP family and receive a fair share of the revenues created by the mining and export of rough diamonds.”
He added further, “Raising global awareness of the work of the KP is key to not only report achievements, but to demonstrate how we are working to stem the flow of conflict diamonds, protect the rights of miners and improve conditions for their families in countries concerned in diamond mining and production.”
Apart from activities completed at halfway point, the mid-term report also contains a “preview” of those to be taken up during the rest of the current Chair’s term. This includes the KP Plenary meeting which is scheduled to be held in Dubai from November 13-17, 2016.