Our innovative platform employs blockchain technology to create a digital, decentralized ledger that traces gemstones from rough to finished jewellery.
Why do we utilise Blockchain Technology?
Blockchain technology is well-suited for traceability in the gems and jewellery industry due to its inherent characteristics of transparency, immutability and decentralisation
Transparency is an important feature of blockchain technology that can greatly benefit the gems and jewellery industry. Blockchain technology can make the gems and jewellery industry more transparent by keeping track of every step of the supply chain on a digital ledger. This allows anyone to trace the movement of a gem or piece of jewellery from its origin to the end consumer. This level of transparency can help to build trust and confidence in the industry by providing consumers with verifiable information about the origin and authenticity of their purchases
Once data is recorded on the blockchain, it cannot be altered or deleted, ensuring that the integrity of the data is maintained. This makes blockchain an ideal tool for creating a permanent and tamper-proof record of each stage in the supply chain of gems and jewellery that can help sellers promote trust and confidence in their products
Instead of relying on centralized entities to manage and store personal information, users can maintain ownership and selectively share their data as needed. This empowers industry stakeholders to have more control over their privacy, reducing the risks associated with centralized data storage and unauthorized data sharing. Blockchain technology's decentralised nature means there is no single point of control or failure. This makes it difficult for any one participant in the supply chain to manipulate or control the data, ensuring that the system remains fair and trustworthy