De Beers Group and the Lab-Grown Diamond Market
Reasons for the policy change ① De Beers’ influence in the diamond industry has declined
Mr. Ito, a board member of the Pure Diamond Coin Project, expressed his opinion on De Beers' policy change as following.
"There are several lab grown diamond enterprises that have nothing to do with De Beers in the US, these companies have gained investment from Hollywood stars and support by celebrities. And there has already been an uncontrollable market for De Beers. As De Beers, if you don’t take any action in the diamond market, your influence on the diamond market will be less and less. The influence of De Beers has decreased compared with 10 years ago, that the reason why they want to hold a brake on it. "
It can be said that Americans who place emphasis on ethical parts tend to accept lab grown diamonds easily. Lab grown diamonds do not cause conflicts like natural diamonds, and do not cause labor problem at the mining ground. Moreover, it does not destroy the environment greatly.
These are the major factors that causing significant progress in the development of lab grown diamond market in the US. Mr. Ito's opinion that De Beers is keeping up with this trend.
Reasons for the policy change ② Lab Grown Diamond technology improvement and China's production progress presence
Lab grown diamond has been developed as an industrial diamond. Mr. Ishizuka who is a board member of the pure diamond coin project is one of the people who has been participated in it.
However, in recent years, the technology for generating lab grown diamonds has improved, and it has been sold not only for industrial use but also for jewelry.
The lab grown diamonds used in the Pure Diamond Coins project are all Made in Japan, but the generating of the lab-grown diamonds is currently in progress in China.
The lab grown diamond generation factory has thousands of generation machines are arranged, and each machine is mass-produced with 100 units of diamond at a time. The lab grown diamonds generated in China are shipped to India, the neighboring country which is the polishing ground.
Here in India, Indian polishing suppliers sometimes mix lab grown diamonds with natural diamonds by mistake during the polishing process. Therefore, jewelry companies such as De Beers need to authenticate diamonds by using the latest technology.
By the way, De Beers is also putting effort into the development of its own appraisal system. With the innovation of generation technology, it is expected that lab grown diamonds will become more beautiful and cheaper from now on.
De Beers said that make a clear distinction between the natural diamond and lab grown diamond markets by appraisal technology, thereby giving consumers the impression that the lab grown diamonds are an inexpensive commodity.
By doing so, they will be able to maintain the luxury of natural diamonds and protect the natural diamond market that has brought enormous profits to company from lab grown diamonds,
What is the position of lab grown diamond in the future diamond industry?
The Board members of the Pure Diamond Coin Project said that "lab grown diamond will never take over all the natural diamond market".
On the other hand, also says, "There will be no doubt that the market for lab grown diamonds will grow in the future." Mr. Ishida predicts what the lab grown diamond will become in the future as follows.
"It doesn’t mean that the natural diamonds will going to disappear. If you compare it to a watch, there are Rolex and an automatic winding watch. It’s just like what we are doing, try to close to that kind of Approach. However, approach does not overthrow Rolex's market. In other words, they can coexist. the only thing I can say for sure is that lab grown diamonds will spread all over the world, even in Japan will be released more and will be worn by more people. We will focus on it."
The quality of the Lab Grown Diamond which linked with this Pure Diamond Coin, and the lab grown diamonds generated in China are already over natural diamonds.
Only 2% of the natural diamond has no impurities, but all the lab grown diamond does not contain any impurities.
In addition, by introducing blockchain technology, the lab grown diamonds which linked with Pure Diamond Coins, it is possible to check individual information easily, such as generation date and fortune telling by using application. It is also possible to present diamonds that were born on the same day as girlfriend.
The "story" will be attached to the diamond which was just "beautiful" until now. It will also be possible to generate color diamonds, which were considered rare in natural diamonds.
Until now, the red diamonds are too rare even for experts to see, but it can be generated with lab grown diamonds.
In addition, lab grown diamond does not cause environmental or conflict and labor problems, as mentioned above.
As you can see, lab grown diamonds have a lot of attractions.
As the board members of the Pure Diamond Coin Project stated, it is certain that lab grown diamonds will continue to spread in the future.
A world where natural diamonds and lab grown diamond coexist. Which would you like to purchase?
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