Everledger Upgrades Platform for Jewel Supply Chain Tracking

Asia Blockchain Review
October 10, 2019
Everledger Upgrades Platform for Jewel Supply Chain Tracking

To better keep track of diamonds and jewels from mines to retailers, an Australian company has announced an upgrade to its blockchain technology. 

According to Jeweller Magazine, Everledger has enhanced its blockchain system to ensure transparency in the gemstones and jewelry industry.

Blockchain Provides Transparency to Jewelry Industry

Everledger was founded by Australian entrepreneur Leanne Kemp, who explained that its mission in the precious gemstones industry is “to contribute greater clarity and confidence in the marketplaces where increased transparency is essential.” The company’s system was created to maintain a secure record of diamond and gemstone sales and allow for the supply chain of such stones to be monitored and assessed by both sellers and buyers.

So far this year, the company has assisted Spanish jewelry maker Facet to create a jewelry collection that can be traced using blockchain and London jeweler Taylor & Hart to put out the world’s first-ever blockchain engagement ring.

Everledger Blockchain Solution Well Received

Everledger has received positive feedback from the industry. The Gemological Association of America has embraced the company’s solution, alongside the Singapore Diamond Investment Exchange, Chow Tai Fook, Dharmananda Diamonds, Sheetal Group, and ethical jeweler Brilliant Earth. Moyo Gemstones and Gübelin Gem Lab employed the technology for a project in Tanzania aimed at protecting artisanal miners.

After announcing the upgraded platform, the company secured US$20 million in a Series A fundraising round led by China’s Tencent. James Mitchell, Chief Strategy Officer for Tencent, remarked that “Blockchain traceability is not only appealing to consumers, but also reduces risks for jewelry businesses.”

Source:www.jewellermagazine.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Vanguard Group Tests Blockchain-Powered Forex Trading Platform
The Vanguard Group is testing a blockchain platform that will allow asset managers to trade currenci...

October 14, 2019

South Korean Blockchain Provider Blocko Officially Launches in UAE
Blocko, a Samsung-backed enterprise blockchain provider from South Korea, has officially launched it...

October 13, 2019

China Will Likely Approve Yuan-Backed Stablecoin And Blockchain
The yuan-backed CNHT has a good chance of being accepted by China, with the potential to attract inv...

October 13, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us