The innovative start-up Provenance Proof has launched the first online marketplace for traceable gems. A first in the industry, it allows buyers and sellers to connect directly. Provenance Proof Marketplace gives all players in the gem industry access to global trade to offer and buy transparently traded gems.
Provenance Proof Marketplace
Increasingly, end consumers and jewellery brands are demanding sustainability and transparency in sourcing and manufacturing of raw gem materials used in finished pieces of jewellery. In parallel, transparently traded gems are growing in demand. The search for the right gem to complete a jewellery piece can prove challenging, let alone the search for transparently traded or responsibly sourced gems. To make access to traceable gems easier and more convenient Provenance Proof, with platform partner Everledger, has launched, an online marketplace to offer its blockchain users the opportunity to connect directly with each other to offer or search for transparently traded gems.
Both sellers and buyers can benefit significantly from Provenance Proof Marketplace. For example, jewellers can conveniently search for transparently traded gemstones or pearls and directly contact the seller on the Provenance Proof platform, right at their fingertips. In addition, the marketplace offers traders in the gem industry a tool to expand their market reach globally by simply listing gems from their Provenance Proof inventory on the online marketplace. Meanwhile, prospective buyers can facilitate their hunt for the perfect transparently traded gem through easy-to-use search filters.
Klemens Link, Director of Provenance Proof, explains: “We believe that provable transparency enables trust, sustainability and fairness in our industry. To make it easier for stakeholders to offer or search for matching traceable gems, we launched the Provenance Proof Marketplace, the first online marketplace for fully traceable gemstones powered by blockchain technology.”
Raphael Gübelin, President of the House of Gübelin, expounds: “The Provenance Proof Marketplace is a further milestone, allowing more transparency in the jewellery and gemstone industry. The online marketplace simplifies both access as well as sales of transparently traded gemstones.” Thanks to this pioneering achievement, access to gemstones with a traceable value chain will be highly facilitated. This innovation will benefit gemstone traders, jewellery brands, jewellers as well as customers who wish to procure transparently traded gemstones and find it important to know about the origin of the gemstones. Provenance Proof makes the online marketplace available for the trade, but is not itself involved in the sales or purchase, and neither does it profit from any of the proceeds.
Everledger CEO Leanne Kemp added: “By making it easier for retailers and consumers to access and trade sustainably sourced gemstones and pearls, Provenance Proof continues to shine a light on the importance of fair work practices and environmental responsibility across the industry. Everledger is proud to contribute to such a worthwhile initiative.
One of the Provenance Proof Marketplace users is Pearls of Australia. James Brown, Managing Director, says: “We needed a way to make the value of pearls more visible and enduring beyond the dialogue we have with customers at a single point of time. We see the marketplace as a great opportunity to engage with brands and retailers at a deeper level and share what makes each pearl unique, from ocean to jewellery.”