Hong Kong jewelry company Chow Tai Fook Jewellery Group will start to use blockchain-based platform for tracking diamonds.
Developed startup Everledger service based on blockchain platform IBM. It will allow customers to chain stores T Mark accurately determine the origin of diamonds and their quality, as was explained in Chow Tai Fook Jewellery Group.
“Nowadays, young consumers are often interested in the full cycle of diamonds, so jewelers increases the importance of identifying the origin and authenticity of the precious stones through the use of modern technologies”, — said one of the managers of the company.
Information about precious stones will be available through the app T Mark. Users will be able to get the information from the digital certificate of any diamond that is sold in stores of the company.
“This initiative not only provides the consumer with a convenient and effective management of your assets. This is a long term and valuable investment that enriches the knowledge of customers about diamonds,” said the team leader retailer company Kent Vaughn (Kent Wong).
As reported in Chow Tai Fook Jewellery Group, a ready-made blockchain-certificate for 3 thousand diamonds being sold in stores 4 T Mark. Ultimately, the initiative will be extended to 10 stores and 10 thousand diamonds.
Earlier, the De Beers Corporation, which is engaged in producing, processing and selling of natural diamonds, has begun to develop blockchain-based platform for tracking of the supply chain. A similar project announced by IBM together with a number of major participants in the international jewelry market, including Berkshire Hathaway Richline Group, Asahi Refining, LeachGarner and Helzberg Diamonds.
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