Gemfields subsidiary Kagem mining has embraced blockchain nano technology to trace the journey of a gemstone from the mine to consumers. These records will be a 100% encrypted. The move comes as consumers increasingly demand knowledge of gemstone origin, showing heightened interest in mindful purchasing and appreciation of the impact of consumer behaviour throughout supply chains.
Gemfields earlier in 207, pioneered Gübelin’s Emerald Paternity Test, the first Provenance Proof technology – the introduction of unique DNA particles that remain within an emerald’s fissures and serve to identify a gemstones’ origin on decode – and are now marrying this advance with Gübelin’s blockchain record process, providing a next step towards the goal of full transparency.
Gübelin Gem Lab’s advances in blockchain technology have given a huge boost to this ambition by providing a secure solution for proving the provenance of gemstones – the only way to be sure of exactly how a gemstone changes hands throughout its journey.
This technique involves data for each gemstone being checked meticulously, using sophisticated algorithms, and then entered on a network of distributed digital ledgers: an efficient and secure alternative to an unreliable paper trail, with access to this information only granted to the gemstone’s current owner.
This new technology allows traceability along every stage of the value chain and provides seamless documentation for peace of mind. Information is encoded as well as being backed up on multiple servers, to prevent the data from being altered, deleted or manipulated, and to ensure that the individual history of each gemstone, from the mine to the final customer, is stored permanently and securely.
The miner is pleased to have customers who care as passionately as we do about where their gemstones come from, and by adopting Provenance Proof Blockchain, is able to give them the certainty that they deserve
The Brexit Consultant
