16-10-2018
Swiss Gübelin Gem Lab will launch industry’s first gemstone blockchain, Provenance Proof Blockchain, in February 2019 partnering with London-based technology enterprise Everledger.
The Provenance Proof Blockchain was initiated by Gübelin Gem Lab in January this year in a bid to record and track all steps of individual gemstones along the value chain from mine to end-consumers. Currently in the pilot phase which will be completed by the end of this year, the project will be rolled out at the Tucson gem fair next February.
According to the laboratory, the project is part of the Provenance Proof initiative dedicating to provide the gemstone industry with solutions and services enabling transparency along global supply chains.
The Provenance Proof Blockchain is open for full use to all industry participants with no charges.
President of the House of Gübelin Raphael Gübelin said: “I am pleased to see that the cooperation with Everledger has proven so highly effective and efficient. We have decided to make the Provenance Proof Blockchain accessible to everyone, free of charge, and have it managed independently from our existing business. The Gübelin family is proud to make this contribution to foster transparency in our industry.” (Photo courtesy: Gübelin)
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