CollectionsNov 05, 2024
Jacquie Aiche is Hosting an Online Treasure HuntOne lucky winner will receive a “Lizzie” diamond bracelet.
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
IndependentsNov 05, 2024
Long's Jewelers Names New Director of BuyingSamantha Larson has joined the Boston-based retailer.
Events & AwardsNov 05, 2024
JA, BIJC Now Accepting EJAP Applications for 2025The Emerging Jewelers Accelerator Program will guide retail jewelry entrepreneurs through an eight-month educational curriculum.
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.
Events & AwardsNov 05, 2024
Tiffany & Co., CDFA Announce Design Award FinalistsTen chosen designers will receive mentorship and participate in a design contest for the Tiffany & Co. x CFDA Jewelry Designer Award.
Weekly QuizOct 31, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsNov 04, 2024
Jewelers Mutual Appoints Mastercard Exec to Its BoardDana J. Lorberg brings 35 years of experience in finance, technology, and strategy to the role.
CrimeNov 04, 2024
FBI Offering $15K Reward for Info on Halloween Mask-Wearing RobbersThe suspects are said to have been involved in the armed robberies of four jewelry stores across three Midwest states.
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.
CollectionsNov 04, 2024
John Hardy’s New Jewels Turn the Black Sands of Bali into DiamondsThe new designs blend Creative Director Reed Krakoff’s aesthetic with the brand’s Balinese roots.
IndependentsNov 04, 2024
Eiseman Jewels is Celebrating Watches All Month-LongThe Dallas-based jeweler will showcase timepieces from Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Parmigiani Fleurier, and more.
IndependentsNov 01, 2024
Gunderson’s Jewelers Opens New Location in NebraskaThe new store features a custom design studio and a bridal salon.
CollectionsNov 01, 2024
Piece of the Week: Sydney Evan Gets ‘Wicked’Designer Rosanne Karmes has created a collection to coincide with the release of the movie musical, which is expected to be a blockbuster.
FinancialsOct 31, 2024
Charles & Colvard Faces Possible Nasdaq DelistingThe retailer said it will file the necessary paperwork to regain compliance as soon as it is able.
ColumnistsOct 31, 2024
Peter Smith: Nervous Flyers and Emotional SellingWhether you’re calming the jittery gentleman in seat 13B or selling a diamond ring to a hesitant customer, an empathetic approach is best.
Events & AwardsOct 31, 2024
WJA Will Celebrate 4 Award Winners at ‘Future of Forty’ GalaThe gala includes a red carpet, music from DJ Renata, an awards program, and “mystery boxes.”
Events & AwardsOct 31, 2024
The Instore Show Returns To Chicago AreaThe trade show, in its third year, will take place in late September at the Donald E. Stephens Convention Center in Rosemont, Illinois.
Lab-GrownOct 31, 2024
Q&A: Constance Polamalu on Selling Natural and Lab-Grown DiamondsThe jeweler shared her change of heart on lab-grown diamonds and why she keeps them separate from natural diamonds in her business ventures.
Events & AwardsOct 30, 2024
These Designers, Journalists, and Retailers Are Up for a Gem Award The 2025 Gem Awards are scheduled to take place March 14 at Cipriani 42nd Street in New York City.
MajorsOct 30, 2024
Peggy Grosz Leaves Assael After Company Is SoldGrosz had served as Assael’s senior vice president and creative director since 2017.
CollectionsOct 30, 2024
CD Peacock Honors Its Hometown of Chicago in First Bridal Collection“Love and Celebration” is the jeweler’s first in-house collection featuring engagement rings, wedding bands, and celebration rings.
SurveysOct 30, 2024
Consumer Confidence Rebounds in OctoberA more positive view of the labor market contributed to the strongest monthly gain since March 2021.
Events & AwardsOct 30, 2024
Mejuri to Award $50K in Scholarships to Jewelry Design StudentsThe funds will be distributed to schools in the U.S., Canada, and the U.K.
MajorsOct 29, 2024
Cybersecurity Expert Selected as President of Jewelers’ Security AllianceJennifer Mulvihill, the first woman to lead JSA in the organization’s 141-year history, takes over for the retiring John Kennedy.
Events & AwardsOct 29, 2024
The Can’t-Miss Events of 2024 New York City Jewelry WeekThis year’s festivities include more than 100 experiences, such as designer showcases, panel discussions, and even a treasure hunt.
AuctionsOct 29, 2024
Rolex Worn on Apollo 14 Mission Sells for More Than $2MThe GMT-Master “Pepsi” that belonged to astronaut Edgar Mitchell is one of two Apollo-flown Rolex watches ever sold at auction.
MajorsOct 29, 2024
Pandora’s Holiday Campaign, New Jewelry Celebrate Light and LoveThe ads star brand ambassadors Chloe and Halle Bailey and Pamela Anderson.
EditorsOct 28, 2024
Q&A: Monica Rich Kosann Looks Back on 20 Years The jewelry designer discussed how she got into the jewelry industry, what she keeps in her favorite locket, and the future of her brand.
