World leading coloured gemstones supplier Gemfields has become the first company to provide coloured gemstones applied Gübelin’s Provenance Proof technologies. Over 18kg of Zambian emeralds with the blockchain technology were sold at Gemfields’ Singapore auction in November 2019.
Adrian Banks, Gemfields product and sales managing director said: “Consumers are increasingly interested in the origin of their gems and how they can be responsibly mined to have a positive impact on the countries they are from.” The gemstone supplier pioneered Gübelin’s emerald paternity test, one of the projects of Provenance Proof, in March 2017. The breakthrough technology applied physical tracer, a DNA-based nanoparticle that stays within a rough emerald’s fissure. The particle carries information along every stage of the supply chain from mining location to end-customers. Information is encoded and backed up on the Provenance Proof blockchain, a collaboration with technology provider Everledger which was officially launched at the AGTA GemFair Tucson in February 2019. This revolutionary technology digitally records and stores all journey of each gemstone permanently and securely. A combination of both a physical tracer and digital ledger serves as an efficient and secure alternative to barely paper trail, that is only accessible to the gemstone’s current owner and hence, to promoting more transparency in the gemstone industry.
The global demand for coloured gemstones is robust. It rises the opportunities for illegal mining operations and conflict stones entering the global market. As one of the leading global emerald suppliers, Gemfields aims to operate in a manner that contributes positively to the national economies of the countries who own the mines like Zambia. The company hopes that such moves can improve awareness of responsibly sourced African coloured gemstones all the way from mine operations through to the end consumer, while having a positive impact on the countries of origin.
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