News 
The platform of the Provenance Proof Blockchain, the world’s first digital ledger for tracking coloured gemstones created by the House of Gübelin, announces a new, streamlined user interface and functionality.
The goal is to enable both retailers and end consumers to trace the lifetime history of individual gemstones.
The Provenance Proof Blockchain records the journey of rubies, emeralds, sapphires and the full spectrum of coloured gemstones as they progress along the supply chain, from mine to shop. Every transaction and hand-over adds another entry to the immutable blockchain, created by UK-based tech company Everledger.
Growing in popularity since its launch in 2019, this platform has now processed over 500,000 coloured gemstones from over 50 different types of gemstones found all around the world. With over 500 organisations now registered on the platform, regular users include artisanal miners, cutters, jewellery brands, gemmological testing laboratories, and retailers.
The data that is captured on the platform of Provenance Proof Blockchain includes the characteristics of every gemstone that makes it unique, details of its origin, as well as under which circumstances the gem was mined, treated, cut, and set. When a gemstone’s data is submitted to the blockchain, it cannot be altered, but more data can be added, capturing the transformation process from gemstone rough to faceted material, through to an item of jewellery. This secure approach helps to mitigate fraud and make sure the details are saved in their entirety, directly from the participants in the supply chain.
August 26, 2021