Gübelin Gemstone Blockchain Goes Live

RAPAPORT… Switzerland’s Gübelin Gem Lab has launched a blockchain for
colored gemstones, which, it claims, will enable source verification throughout
the entire supply chain.



The digital ledger is now open to industry members wishing
to place their gemstones on the platform, the Lucerne-based institute said
after unveiling it at the AGTA GemFair Tucson show last week.


The blockchain will record all transactions involving a
stone, enabling participants to see the relevant available data about the
piece’s history. Businesses across the supply chain can register for the free
program, including miners, dealers, cutters, treaters, laboratories and
jewelers. Retailers will then be able to show consumers the entire story of the
stone.


“The Provenance Proof Blockchain is a truly inclusive
solution, applicable to any type of gemstone and open to any stakeholder of the
gemstone and jewelry community who is ready to embrace transparency,” Gübelin
said Friday.


Gübelin launched the tool in cooperation with Everledger, a
technology company. Gemstone miner Fura Gems tested it during the recent pilot
phase.


Image: Rough emeralds. (Gübelin Gem Lab)