Provenance Proof Blockchain Hits 500K Tracked Colored Gemstones
The platform, developed by Gübelin and Everledger, has also undergone a redesign.
The companies announced Thursday the blockchain platform has now processed more than 500,000 colored gemstones.
They said the tracked stones have comprised more than 50 types of gems from all around the world.
More than 500 organizations are now registered on the platform, from artisanal miners and cutters to jewelry brands, gem labs, and retailers, according to Gübelin and Everledger.
The Provenance Proof Blockchain is designed to keep track of colored gemstones as they travel along the supply chain.
It begins at the mine, and then each transaction adds an immutable entry to the blockchain, resulting in a record that tracks the stone’s journey all the way to the end user.
Data captured includes the gemstone’s characteristics, details of its origin, and the circumstances under which the gem was mined, treated, cut, and set.
Gübelin and Everledger announced during the 2019 Tucson gem shows that the platform was opening to the industry after development and a pilot program with Fura Gems.
The two said environmental and social sustainability-minded retailers have driven the bulk of the platform’s industry adoption since then.
“Provenance Proof enables us to provide a level of transparency that had not previously been available in our industry. Their platform dispenses a friendly graphical user interface that effectively communicates each stone’s unique origin story,” Josef Gad of Assay Jewelers said in a statement.
“This partnership has not only added value on the consumer front, but it has also increased our B2B network of other retailers in search of stones with provenance. We are thrilled to become a part of this mission to cultivate a more ethical and transparent gemstone industry.”
Concurrent with the news of a milestone is a redesign for the platform meant to better help retailers and consumers trace the history of a stone.
It has given the platform an “an easy-view modular layout,” according to the press release, allowing for rapid access to a stone’s provenance story.
Additionally, the platform now provides the option to print a document that can physically accompany a stone for proof of origin and transparency.
The Latest
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.