EditorsNov 22, 2024
Out & About: Inside the CD Peacock MansionStep inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
SourcingJan 10, 2018
Gübelin Working to Create Blockchain for Colored Stones
The lab is partnering with Everledger to develop technology to trace stones from mine to market.
Gübelin Gem Lab is partnering with Everledger to create a blockchain technology that can track any and all gemstones from mine to market.
Lucerne, Switzerland--In an effort to create more transparency, Gübelin Gem Lab is partnering with a technology company to create a blockchain for colored stones.
The lab announced Tuesday it is working with emerging tech company Everledger to develop the program that will trace gemstones from mine to market, which it calls the first in the world of its kind.
The project comes as part of the lab’s Provenance Proof initiative, a long-term program designed to develop and provide technologies to the gemstone industry to make it more transparent.
“We have a deep belief that the level of transparency we have in the gemstone industry is not fit to fulfill the requirements that today’s critical consumers have,” Gübelin Gem Lab Managing Director Daniel Nyfeler told National Jeweler Tuesday.
“We as a gem lab believe that we have a certain credibility or at least some kind of tech savviness that puts us in quite a good position to develop technologies that can help achieve the goal of transparency.”
That already includes its “Emerald Paternity Test” and now, the creation of the blockchain.
A blockchain is a digital, decentralized ledger of transactions, which constantly grows as completed “blocks” are recorded.
Blockchain technology is secured using cryptography, which means that no one can tamper with the data once it has been recorded, and because the data is stored across its network, it eliminates the risk that comes with holding data centrally.
Everledger--which has experience building blockchain technologies for high-value goods, including diamonds--will design and build the required technical backbone for Gübelin’s Provenance Proof Blockchain.
The technology will engage any and all parties involved in the lifecycle of a gemstone. It can be applied to every colored stone.
The blockchain Everledger is building, expected to launch within the next six months, is a “digital look book,” Nyfeler said, with each gemstone having its own log of information.
RELATED CONTENT: Analysis: The State of the Colored Stone MarketIt will aim to track a stone as early in the supply chain as possible and will build a record of each individual rough gemstone. The owner or custodian of the stone is then entitled to contribute certain information to the “look book”--as well as see certain formation--through to, and including, the end consumer.
“Overall, you get a kind of complete history of that stone,” Nyfeler said.
They are designing it to be easy to use on the front end.
Nyfeler said
they are building their technology based on smartphones (as they’re early in the development process, they are still working to figure out, beyond that, what form the tech will take). A blockchain for a gemstone will be started by entering simple data, such as its weight or a picture of the stone.
When asked about possible barriers for use for artisanal miners, he said the cost to use the blockchain technology is very small: “It’s indeed something that should function with the guy who is sitting in the small-scale mining, as long as he has a smartphone and is willing to give transparency on what he’s doing.”
While it is designed to give supply chain transparency, it wouldn’t be able to stop someone from swapping a mined stone for a synthetic or treated stone somewhere along the way.
“But the good thing is that once it gets detected, you can basically trace it back and most likely find the place where something went wrong,” Nyfeler said. “That’s due to the fact that the blocks are immutable.”
This is also why the lab believes that the blockchain paired with the emerald paternity test provides an “extremely powerful package.”
“The combination of something physical with something digital, we believe, really takes a step forward in our overall attempt to bring more transparency to our industry.”
The paternity test, launched at Baselworld 2017, makes emeralds completely traceable by applying DNA-based nanoparticles directly onto the rough crystals at mining sites.
The lab wants to expand the technology, or something similar to it, to all gems.
Nyfeler said the current type of nanoparticles they use on the emeralds can also now be applied to pearls and Paraiba tourmaline.
The lab is developing other solutions, likely also based on nanoparticles, for rubies and sapphires, though they are only at the lab trial stage for those now.
“We want to develop the technologies that, again, is something physical, that we add to the stone or write in the stone, something that is invisible and that becomes part of the stone and can be retrieved or read at any late stage.”
Since the investment required by anyone interested in the paternity test is quite large, Nyfeler said the lab also is partnering with a consultancy company in the artisanal mining sector on a project to see how the technology can be applied in such an environment.
When asked about possible barriers for use for artisanal miners, he said the cost to use the blockchain technology is very small: “It’s indeed something that should function with the guy who is sitting in the small-scale mining, as long as he has a smartphone and is willing to give transparency on what he’s doing.”
While it is designed to give supply chain transparency, it wouldn’t be able to stop someone from swapping a mined stone for a synthetic or treated stone somewhere along the way.
“But the good thing is that once it gets detected, you can basically trace it back and most likely find the place where something went wrong,” Nyfeler said. “That’s due to the fact that the blocks are immutable.”
This is also why the lab believes that the blockchain paired with the emerald paternity test provides an “extremely powerful package.”
“The combination of something physical with something digital, we believe, really takes a step forward in our overall attempt to bring more transparency to our industry.”
The paternity test, launched at Baselworld 2017, makes emeralds completely traceable by applying DNA-based nanoparticles directly onto the rough crystals at mining sites.
The lab wants to expand the technology, or something similar to it, to all gems.
Nyfeler said the current type of nanoparticles they use on the emeralds can also now be applied to pearls and Paraiba tourmaline.
The lab is developing other solutions, likely also based on nanoparticles, for rubies and sapphires, though they are only at the lab trial stage for those now.
“We want to develop the technologies that, again, is something physical, that we add to the stone or write in the stone, something that is invisible and that becomes part of the stone and can be retrieved or read at any late stage.”
Since the investment required by anyone interested in the paternity test is quite large, Nyfeler said the lab also is partnering with a consultancy company in the artisanal mining sector on a project to see how the technology can be applied in such an environment.
More on Sourcing
The Latest
CollectionsNov 22, 2024
Piece of the Week: Xander Jane’s ‘Spiked’ Pearl StudsThese punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
Supplier BulletinNov 21, 2024
Tasha R Releases 2025 Labbelle Lab Diamond Jewelry CatalogSponsored by Tasha R
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
AuctionsNov 21, 2024
Gold Watch Gifted to Titanic Rescue Ship Captain Sells for $2MThree Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
Weekly QuizNov 21, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsNov 21, 2024
Harris Jewelry Ordered to Reopen Claims Portal for Refund RequestsA federal court found that the jewelry store chain violated terms of the settlement reached after it was accused of defrauding customers.
CollectionsNov 21, 2024
Channel Elphaba in Muse’s ‘Have a Heart x Cynthia Erivo’ CollectionCynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
MajorsNov 21, 2024
Rocksbox Opens Pop-Up Store in San FranciscoThe new space was designed to evoke a warm, inviting vibe.
IndependentsNov 21, 2024
Mary Moses Kinney Is Now Part of The Edge’s Team Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
CrimeNov 20, 2024
Sotheby’s to Pay $6.25M Settlement to NY State for Alleged Tax FraudThe auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
Events & AwardsNov 20, 2024
Kering Debuts New Jewelry Award With Sustainability FocusThe four finalists will present their pieces at the 2025 JCK Las Vegas show.
CollectionsNov 20, 2024
Pamela Love Channels Surrealist Artists in New CollectionThe “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
Policies & IssuesNov 20, 2024
Columbia Gem House Raises $10K for Reforestation EffortsThe money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
Events & AwardsNov 20, 2024
The Jewelry Symposium Opens Registration, Scholarship ApplicationsThe event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
CrimeNov 19, 2024
Woman Killed in Armed Robbery of Sacramento Jewelry StoreLocal reports identified the woman as the wife of the jewelry store owner.
AuctionsNov 19, 2024
‘A Tsar’s Treasure’ Fetches $2.9M at Sotheby’s Jewelry SaleA collection of pieces owned by Ferdinand I, the first king of modern Bulgaria, and his family, blew away estimates in Geneva last week.
MajorsNov 19, 2024
Trove Opens First US Flagship in NYCThe Australian jewelry box brand’s new West Village store will showcase new jewelers each month through its Designer in Residence program.
CollectionsNov 19, 2024
Snoop Dogg’s New Jewelry Collection Is All About Love“Lovechild” was created in partnership with Carolyn Rafaelian’s Metal Alchemist brand.
EditorsNov 18, 2024
Q&A: Helzberg CEO Brad Hampton on the Jeweler’s RebrandHampton discussed how Helzberg is improving the customer experience and why it was inspired by the company formerly known as Dunkin’ Donuts.
Policies & IssuesNov 18, 2024
Reciprocity Jewels Returns to NYC Jewelry WeekThe group will host several curated events and an exhibition of designer jewelry made with Peruvian gold traceable to the miners’ names.
CollectionsNov 18, 2024
Dolly Parton Shines in Collaboration with Kendra ScottThe collection honors the 50th anniversary of Dolly Parton’s “Love is Like a Butterfly” song, which shares a birth year with Kendra Scott.
Events & AwardsNov 18, 2024
IGI Jewelry Design Competition ReturnsThis year’s theme asks designers to take inspiration from classic fairy tales.
EditorsNov 15, 2024
Why Fine Jewelry Belongs at New York Comic ConSenior Editor Lenore Fedow makes the case for why more jewelers should be appealing to nerds at the annual event.
CollectionsNov 15, 2024
Marie Lichtenberg Battles Counterfeits with New ‘Raiz’in Scapular’ DesignsThe latest “Raiz’in” drop showcases a newly designed “Scapular” necklace and donates a portion of the proceeds to Make-A-Wish France.
WatchesNov 15, 2024
Piece of the Week: Citizen’s Commemorative Pocket WatchNo. 1 out of 100, the timepiece was created to mark Citizen’s 100th anniversary and will be auctioned off at Sotheby’s next month.
Recorded WebinarsNov 15, 2024
Watch: 10 Tips to Keep Your Jewelry Store Secure On the latest episode of “My Next Question,” two experts share best practices for store security during the holidays and year-round.
