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World Federation Of Diamond Bourses

GET-Diamonds Gets a Boost Forward

Dear Friends,

A year ago, the WFDB launched, the only non-profit B2B e-commerce diamond trading site. During the year, which was a challenging one by all accounts, GET-Diamonds grew and developed to become one of the world’s largest trading sites, listing over 1.17 million diamonds and having a total value of over $5.07 billion.

Today I want to inform you of a step that we have taken that will be a game-changer for GET-Diamonds. GET-Diamonds has signed an agreement with hi-tech company Lucy Platforms that will transform its technological platform. According to the agreement that was signed last week, Lucy will use its proprietary AI-based technology to enhance the design and functionality of and ensure that the site is powerful, feature-rich and user-friendly. For that purpose, Lucy has agreed to invest a considerable amount of money in the platform over the next several years.

In addition, Lucy Diamonds will develop new features for GET-Diamonds. Among these are a trading arena and a section for tenders, both of which will be managed by Lucy, and which will be available during the coming months.

As you will recall the WFDB launched GET-Diamonds in April 2020 in order to establish a trading and listing site that would work to benefit the global diamonds industry. GET-Diamonds was established as a non-profit organization whose motto is “By the industry, For the industry.” Profits generated by the site are planned to be invested in projects that benefit the industry, including generic marketing.

Lucy Platforms is an Israeli high-tech company founded in 2017, that specializes in B2B e-commerce trading platforms for diamonds, based on AI technology. Lucy uses advanced big data analytics and optimized digital experiences that will enable it to create a unique and secure user experience for GET.

I am very proud of what we have achieved with GET-Diamonds in the past year. However, I am convinced that this new agreement will make trading on GET even more attractive and valuable for users.

I want to thank Moshe Salem, WFDB Vice-President and Shmuel Iny, our Legal Counsel, for the tremendous amount of work they put in to negotiate and seal this agreement.

It is because of you, my friends, that has gotten off the ground and achieved success thus far. I want to thank you all for your trust and support to date and for your future support, as we work to ensure that GET reaches even greater heights in achieving its goal as a global platform “By the industry, For the industry.”

Stay healthy and safe,

Yoram Dvash

Read More : President's Letters