Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
MajorsMay 03, 2018
These Rings Were Tracked Through Blockchain
The diamond engagement rings are the product of an initiative called TrustChain, the result of a collaboration between a group of jewelry companies and IBM.
This is one of the six TrustChain engagement ring styles, all of which feature 14-karat white or yellow gold mined in South Dakota and diamonds from Rio Tinto. The ring will be sold at select Helzberg Diamonds stores beginning this fall.
New York—A group of Berkshire Hathaway-owned jewelry companies has partnered with UL, IBM and Asahi Refining to produce what they say is the first cross-industry initiative to produce finished pieces of jewelry traced from mine to market using blockchain.
The initiative, announced last week, is called TrustChain and is being launched with six gold and diamond engagement rings tracked via the IBM Blockchain Platform, which is delivered via the IBM Cloud.
Blockchains are digital ledgers that are decentralized, meaning they exist across multiple computers and servers; they’re not housed on any one computer or server, or owned by any one user or organization.
They are used by companies or groups of companies to record the history of transactions in a manner said to be more secure and allow for complete transparency. Transactions are recorded as individual “blocks” that are then “chained” together to show the complete record of transactions.
Each blockchain, whether it’s for UPS, Walmart or British Airways, is accessible only by permitted parties, and each block must be validated by the parties before it is added to the digital ledger.
De Beers is working with Boston Consulting Group on a blockchain initiative for tracing diamonds from mine to market, while Gübelin Gem Lab has partnered with Everledger to develop one for colored gemstones.
The TrustChain initiative, however, is the only one so far for a finished piece of jewelry with multiple components.
Mark Hanna, chief marketing officer for The Richline Group, which is manufacturing and distributing the initial TrustChain rings, said the initiative is important for the industry as it seeks to “raise the collective responsibility and provenance practices to new heights.”
The diamonds provided for the proof of concept came from Rio Tinto’s mines in Australia and Canada, and the gold from the Coeur Wharf Mine in South Dakota.
The raw gold was processed and refined at Asahi Refining in Salt Lake City, Utah, with LeachGarner transforming the gold bars into 14-karat white and yellow gold casting grain and sending it to Richline’s manufacturing facility in India.
The finished rings were returned to the United States via the Richline distribution center in Florida before being shipped to North Kansas City, Missouri-based Helzberg Diamonds. (Richline, LeachGarner and Helzberg are all owned by Berkshire Hathaway, Warren Buffett’s holding company.)
UL provided third-party verification of each transaction along the way.
Hanna said while they started with Canadian diamonds, U.S. gold and manufacturing at Richline’s facility in India for proof of concept, plans call for expansion of TrustChain in the future, incorporating more mines and manufacturers and making the jewelry available to additional retailers.
The initiative, announced last week, is called TrustChain and is being launched with six gold and diamond engagement rings tracked via the IBM Blockchain Platform, which is delivered via the IBM Cloud.
Blockchains are digital ledgers that are decentralized, meaning they exist across multiple computers and servers; they’re not housed on any one computer or server, or owned by any one user or organization.
They are used by companies or groups of companies to record the history of transactions in a manner said to be more secure and allow for complete transparency. Transactions are recorded as individual “blocks” that are then “chained” together to show the complete record of transactions.
Each blockchain, whether it’s for UPS, Walmart or British Airways, is accessible only by permitted parties, and each block must be validated by the parties before it is added to the digital ledger.
De Beers is working with Boston Consulting Group on a blockchain initiative for tracing diamonds from mine to market, while Gübelin Gem Lab has partnered with Everledger to develop one for colored gemstones.
The TrustChain initiative, however, is the only one so far for a finished piece of jewelry with multiple components.
Mark Hanna, chief marketing officer for The Richline Group, which is manufacturing and distributing the initial TrustChain rings, said the initiative is important for the industry as it seeks to “raise the collective responsibility and provenance practices to new heights.”
The diamonds provided for the proof of concept came from Rio Tinto’s mines in Australia and Canada, and the gold from the Coeur Wharf Mine in South Dakota.
The raw gold was processed and refined at Asahi Refining in Salt Lake City, Utah, with LeachGarner transforming the gold bars into 14-karat white and yellow gold casting grain and sending it to Richline’s manufacturing facility in India.
The finished rings were returned to the United States via the Richline distribution center in Florida before being shipped to North Kansas City, Missouri-based Helzberg Diamonds. (Richline, LeachGarner and Helzberg are all owned by Berkshire Hathaway, Warren Buffett’s holding company.)
UL provided third-party verification of each transaction along the way.
Hanna said while they started with Canadian diamonds, U.S. gold and manufacturing at Richline’s facility in India for proof of concept, plans call for expansion of TrustChain in the future, incorporating more mines and manufacturers and making the jewelry available to additional retailers.
“This pilot was done particularly to try to move product globally and … create a worldwide model that we could follow,” he said.
The Berkshire Hathaway companies, along with Asahi and UL, have been working with IBM on the TrustChain project since the beginning of 2017.
The TrustChain rings are set to go on sale at Helzberg in the fall, with the exact number of stores that will carry the rings still being determined.
Also still up in the air is how it will be marketed, packaged, presented in stores and explained by sales associates to the end consumer.
The Berkshire Hathaway companies, along with Asahi and UL, have been working with IBM on the TrustChain project since the beginning of 2017.
The TrustChain rings are set to go on sale at Helzberg in the fall, with the exact number of stores that will carry the rings still being determined.
Also still up in the air is how it will be marketed, packaged, presented in stores and explained by sales associates to the end consumer.
All six ring styles created for the TrustChain initiative
As far as pricing on the rings goes, Helzberg Diamonds Chief Merchandising Officer Julie Yoakum said the retailer “does not anticipate putting a premium on TrustChain product,” meaning that the rings tracked through blockchain are not expected to be more expensive for consumers than comparable pieces.
The FAQ section of the TrustChain website says when consumers buy a TrustChain ring, they will receive a “permanent digital record” of that ring’s journey through the supply chain. If that sounds like a familiar concept, it’s because Richline has done a program like TrustChain before.
More than a decade ago, Aurafin (and, later, Richline) worked with Walmart and Pam Mortensen, who then was heading the retailer’s fine jewelry department, to launch a line called “Love, Earth.”
Each person who bought a piece could go to a now-defunct website, LoveEarthInfo.com, to see on a map where the gold was mined and the piece was manufactured.
It was a pioneering program in jewelry traceability, predating the formation of the Responsible Jewellery Council, Forevermark’s launch in the United States and most certainly blockchain.
“This is how we (Richline) got to blockchain, from Love, Earth,” Hanna said, though he noted the technology used for Love, Earth back in 2006, called string, was much less sophisticated and more manual.
“We’re really going to be bringing back the program with a lot more documentation and a lot more touchpoints. The blockchain is kind of string on steroids.”
Hanna said from Richline’s perspective, there are additional costs involved in using blockchain in the short term, but the company anticipates those will be offset in the long term by the efficiencies it will create.
He also said he expects that in a year or two, the TrustChain initiative and the other blockchain pilots currently underway in the industry, from De Beers/Boston Consulting to Gübelin/Everledger, will be able to communicate and work together.
The Latest
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
IndependentsMar 26, 2026
Peter Smith Pens Book on Human Behavior in Sales“Essentially Human: On Sales and Salespeople" reveals the underlying human traits and behaviors of the most successful sales professionals.
CollectionsMar 26, 2026
Lionheart Celebrates 13 Years of ‘Cassandane’The collection features symbols of love, luck, and light, based on the story of Queen Cassandane and Cyrus the Great of Persia.
