Majors

These Rings Were Tracked Through Blockchain

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.

20180503_TrustChain-header.jpg
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. 

“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. 

All six ring styles created for the TrustChain initiative
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.
Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Nina Pugliese Henne Jewelers
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65

She was remembered as a creative and generous woman of faith, who also had a sweet tooth.

Mark Henry Leandra Medine Cohen
IndependentsSep 29, 2025
Mark Henry Jewelry to Debut in Canada

The New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.

Kwait White and Yellow Gold Diamond Earrings
TrendsSep 29, 2025
Amanda’s Style File: Ear Focus

Move over neck mess, the ear story is the way to make a layering statement today.

gia-edu main image.png
Brought to you by
A Brilliant Future Is Here

Online education from GIA experts.

Hand holding holiday shopping bags
SurveysSep 26, 2025
Online Shopping, Influencers to Drive Holiday Spending, Mastercard Says

Holiday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.

Weekly QuizSep 25, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Austin Shines Jewelry Award
Events & AwardsSep 26, 2025
Winners of Austin Jewelry Design Contest Announced

Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.

Kwit Square Signet Pinky Ring in Red and Azure
TrendsSep 26, 2025
Piece of the Week: Kwit Jewelry’s Square Signet Pinky Ring

The red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.

reDollar-fine-jewelry-department.jpg
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment Program

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

Jewelers of America Fly In
Policies & IssuesSep 25, 2025
JA CEO Provides Tariff Update Following Annual Fly-In

A trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.

Entrance to Jwaneng diamond mine in Botswana
SourcingSep 25, 2025
2 African Countries Aim to Take Stake in De Beers

Botswana’s president said his country wants a controlling share, while Angola envisions multiple countries holding minority stakes.

Kira Jewels Growing Rowing Machines
Lab-GrownSep 25, 2025
Kira Jewels Expands Lab-Grown Diamond Production

The manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.

Alex Moss SoHo store
IndependentsSep 25, 2025
Alex Moss’ New Flagship Brings Bold Jewels to SoHo

The jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.

Matthew Wilson, Kavin Kulamavalava, and a Elmasolvex VA
WatchesSep 25, 2025
Wilson & Son Jewelers Donates to the Horological Society of New York

The Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.

Representatives of India’s Gem and Jewellery Export Promotion Council and Indian government leaders
Policies & IssuesSep 24, 2025
Tariffs Throw Diamond Trade Into Disarray

The 50 percent tariffs on diamonds shipped from India to the U.S. have pushed midstream manufacturers to the edge.

Father’s Day diamond advertisement that ran in India
SourcingSep 24, 2025
De Beers Adopts New Strategies to Drive Natural Diamond Demand in India

De Beers’ refreshed, multipronged approach, which includes generic promotions and retail partnerships, is delivering positive dividends.

Policies & IssuesSep 24, 2025
For Jewelry Manufacturers, Higher Tariffs Create Long-Term Worries

They are trying to balance the need to sustain well-established relationships with the pressure higher tariffs have put on margins.

Guest lecture for people with disabilities at the Jewelex factory
SourcingSep 24, 2025
A Helping Hand: An Effort to Boost Inclusivity in the Industry

Jewelry manufacturer Jewelex has partnered with JOSH, an industry training center, on a program for people with disabilities.

Greenwich St. Jewelers Estate Capsule Campaign
CollectionsSep 24, 2025
Greenwich St. Jewelers Goes Back in Time With First Estate Collection

The collection includes pieces dating back to the Victorian and Art Deco periods as well as mid-century and late 20th-century designs.

Marcus ter Haar
Policies & IssuesSep 24, 2025
Diamonds Do Good Names Marcus ter Haar as President-Elect

He previously served as co-chair of the nonprofit’s beneficiary committee.

Jane Goodall Brilliant Earth campaign
CollectionsSep 24, 2025
Brilliant Earth’s New Jane Goodall Collection Calls for Peace

Its second collaboration with the conservationist features jewelry with dove and olive branch motifs.

SRK Kriam Pharma
SourcingSep 24, 2025
SRK Launches Kriam Pharma

The diamond manufacturer’s new company will provide accessible and affordable high-quality medicines across India.

Emmanuel Raheb, CEO of Smart Age Solutions and National Jeweler columnist
ColumnistsSep 23, 2025
Quiet Luxury: What Fall’s Top Trend Means for Jewelers

Emmanuel Raheb shares tips on how a jeweler’s showcases, marketing, and social media presence can whisper, instead of shout.

Super Smalls Super Book of Gems, Maria Dueñas Jacobs, and Bianca Gottesman
SourcingSep 23, 2025
Super Smalls’ New Book Introduces Kids to Gems, Fine Jewelry

The “Super Book of Gems” dives into the Mohs Hardness Scale, the Four C’s, and designs from jewelers like Cartier and Bulgari.

Mattioli CEO Claudio Pasta
MajorsSep 23, 2025
Mattioli Names Kering Exec as New CEO

Claudio Pasta will take the lead at the Italian fine jewelry brand, succeeding company founder Licia Mattioli.

Monique Lhuillier fashion jewelry Kay
CollectionsSep 23, 2025
Monique Lhuillier Adds Fashion Jewelry to Kay Jewelers Line

The new lab-grown diamond jewelry offering is the latest expansion of the designer’s “Bliss” collection.

Rio Tinto tender
SourcingSep 22, 2025
Rio Tinto Announces Final ‘Beyond Rare’ Tender

The miner is honoring the end of an era with an offering of 52 lots from the now-closed Argyle and the soon-to-close Diavik mines.

Vibhor and Alor logos
MajorsSep 22, 2025
Jewelry Manufacturer Vibhor Acquires Alor

The California-based fine jewelry brand will retain its identity post-acquisition, with new collections launching next year.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy