UNI Diamonds and IDEX, along with other data driven companies, come together to create the first fully-transparent price guide for the natural polished diamond industry
The Diamond Price Guide, secured by QEDIT's Privacy-Enhancing Technology, will be continuously updated, using real-time inventory data from industry manufacturers and wholesalers
TEL AVIV: SEPTEMBER 9, 2020 - UNI Diamonds, a fintech company focused on building a global marketplace for diamonds, has announced a strategic relationship with a leading diamond price organisation and IDEX (International Diamond Exchange) to create the first fully-transparent and unbiased price guide for the natural polished diamond industry.
The Diamond Price Guide provides up-to-date wholesale market prices guidance. It is based on the diamond inventory data collected by UNI from international manufacturers and wholesalers, the IDEX diamond price list as well as on diamond search data that shows what buyers are looking for and what they are willing to accept. To create the guide, UNI developed an algorithm that collates data from multiple sources, detects and eliminates outliers, and provides average market prices in real-time.
In order to ensure maximum transparency and data accuracy, all contributors to the Natural Diamond Price Guide must be assured that their proprietary information will remain confidential. To meet this privacy requirement, UNI partnered with QEDIT, a World Economic Forum Technology Pioneer and a leading provider of Privacy-Enhancing Technology (PET) solutions. QEDIT is a secure data collaboration platform, powered by advanced cryptography, enabling calculations on encrypted data without storing or accessing sensitive, raw information.
Looking ahead, additional data sourced from other rigorously vetted platforms will be aggregated into the Price Guide, broadening its scope considerably. All companies that have a price guidance reports that...