World

De Beers, Tiffany & Co, Halt Alrosa Russian Diamond Imports

Published

2 years ago

April 18, 2022

De Beers, a direct competitor of the Alrosa mine in Russia, took advantage of the recent sanctions in its official website statement. “Every diamond discovered by De Beers Group comes from one of our mines in Botswana, Canada, Namibia or South Africa.” Russia is absent from the list, and the innuendo is clear.

Jewelry giant Tiffany & Co. also stated that it discontinued Russian diamond imports. Stones currently in transit as well as those already in US stores will remain outside the scope of the sanctions.

Despite all assurances of compliance with President Biden’s executive order to ban Alrosa exports to the United States, it was virtually impossible to prove the provenance of a natural gemstone.

The solution comes from Sarine Technologies. An increasing number of companies in the diamond industry are relying on the publicly traded company for proof of a gemstone’s provenance. Even when a gem crosses borders, Sarine can trace it and identify the point of origin.

The corporation deployed a global fleet of state-of-the-art 3D gemstone scanners throughout the mining and production industry that identify the inherent attributes of each jewel. From mine to jewelry store, every point in the supply-chain rescans the gemstones. When a match is made, the stone is verified.

Eastern European stones are commonly sold in India, and exchange hands before making their way to their international destinations. Blood diamonds are commonly fed into supply chains unbeknownst to purchasers.

The Verify website conducted an interview with RapNet founder, Martin Rapaport, who wrote about loopholes in the US sanctions. “The order places no restrictions on the U.S. importation of polished diamonds sourced from Russian rough diamonds but cut and polished elsewhere.”

In order to document sourcing, Sarine uses blockchain technology to create an immutable record of a gem’s initial location, its movement, and ownership. When a rough jewel is mined, it is scanned and logged into the online distributed ledger.

As the product is rescanned at each point of exchange, the software confirms a match and the data is stored in the blockchain. The customer can access an online report that certifies the provenance and journey of the jewelry.

“It’s changing the market,” says Simon Levy, a diamond sales executive in The Israel Diamond Exchange LTD. “Mined gems are meaningful and symbolic, but many of our customers over the last decade are more concerned with where our rough stones come from. Having a scientific means to verify where they originate is important to them, and to me as well.”

The biggest hurdle for the tracing concept was the ability to find distinctive, inimitable characteristics inherent in the stone. Once the technologies were able to make these distinctions, a world of possibilities was opened.

Jonathan Larson, an assistant professor of computer science in Cambridge, MA explained that “Blockchain uses distributed computing, and it’s a brilliant way to securely track and observe digital records. We began experimenting with extending the technology from digital assets to actual things.”

He continued, “We could track them, but we weren’t able to authenticate all of them—we didn’t know if they were the same object. But when there’s a distinct identifier, then you have both authentications matching as well as the history and exchange. The more granular the distinction, the higher the level of authentication.”

Once paired with distributed ledger technology, the software knows everything about the stone, including where it came from and where it ends up. The failsafe system benefits everyone involved in legitimate trade—especially retail customers.

Tiffany and other companies will be embracing high-tech solutions to ensure products are coming from vetted sources. That’s great news for everybody.

World

A Step-by-Step Guide to Hiring the Right Personal Injury Lawyer

Published

2 weeks ago

April 19, 2024

Michelle Langton

Are you dealing with injuries, loss of income, and hefty medical bills because of an accident that was not your fault? If yes, you need the services of an excellent personal injury lawyer. But how do you determine if a lawyer is a perfect match for your personal injury case when you have so many options? This step-by-step guide aims to teach you the critical steps to hiring the best personal injury lawyer in your state.

1. Know Why You Need a Personal Injury Attorney

Typically, you must hire the right personal injury lawyer if you are pursuing a lawsuit for personal injury. As defined on Forbes, a personal injury lawsuit is a civil action that an injured person takes against a person or company responsible for an accident that resulted in injuries.

For instance, you get into a car crash or slip and fall incident in the workplace because of someone else’s fault. You can sue the party responsible for injuries, lost wages, medical bills, and mental anguish.

But there are instances you may not need a personal injury attorney despite being in an accident. For example, a minor fender bender where no one sustained injuries or had their property damaged is easy to resolve without involving lawyers. So, after an accident, evaluate the damages incurred. If they are severe, search for a personal injury attorney.

2. Do Extensive Research

Where do I begin my search? Referrals are valuable because you can ask specific questions regarding the lawyer’s communication style, availability, litigation experience, and fee structure. So, ask family and friends to recommend someone they have worked with. Search for attorneys in your area online if you need referrals. You can type a simple search query like ‘personal injury attorney near me’ on Google. Alternatively, look for a lawyer through online directories.

3. Schedule Free Consultations

You want to know what a personal injury lawyer will do for you. Therefore, schedule a free consultation meeting and ask questions like:

What will you prioritize in my case?

The right attorney will focus on getting justice and fair compensation to ensure your stress-free recovery. Communication should also be a top priority. The lawyer should communicate with you using simple terms to help you understand your legal rights. More importantly, they should update you about the case progress on time.

Do you have experience handling cases like mine?

As lawyers at Cohen, Feeley, Altemose & Rambo law firm mention, experienced personal injury attorneys will guide you through the legal process. Even more interesting, they will handle negotiations on your behalf to safeguard your rights. So, make sure your lawyer has experience in personal injury law.

It would be better if they had specialized experience handling cases like yours. For example, if you are pursuing a truck accident lawsuit, you will want a personal injury lawyer with expertise in dealing with trucking accident claims.

What is the value of my personal injury claim?

After evaluating your case, a skilled attorney should tell you the worth of your personal injury claim. What you should be cautious of are unrealistic estimates and guarantees. There are no assurances in personal injury claims. If a lawyer promises a higher settlement that sounds too good to be true, do not fall for it because they are lying.

How much are your legal fees?

Personal injury lawyers work on a contingency fee arrangement. Based on Cornell Law School, a contingent fee structure allows lawyers to receive a certain percentage of the total settlement value a client wins. As a result, you do not pay your legal representative any upfront fee.

4. Check Testimonials

Aside from experience, work with a trustworthy and reputable attorney. You can quickly determine a lawyer has an outstanding reputation by reading testimonials from past clients.

Find out if the clients feel happy about the outcomes of their case. How about the style of communication? Does the lawyer explain legal terms in simple language?

A reputable lawyer will receive positive feedback from clients and respect from peers. Also, check with your local bar association to ensure your preferred lawyer doesn’t have disciplinary actions against them.

5. Select Your Lawyer

At this point, comfort matters a lot. Do not choose a lawyer you feel uncomfortable discussing your legal issues with. Also, ensure they have the experience and resources to win your personal injury claim. Equally important, they should have an excellent reputation.

Conclusion

When you are a victim of an accident that someone else caused out of negligence, you need to seek justice and compensation for your injuries. There is only one way to achieve these goals. You must work with the best lawyer to pursue a personal injury claim. True, choosing the right one can be challenging. But you can make an informed decision if you follow this step-by-step guide to hiring the right personal injury lawyer.