Everledger and Rare Carat Partnership case study
Blockchain and IoT technologies enable tracking of the entire diamond life cycle to improve customer confidence in jewellery
Everledger and Rare Carat
Everledger, an independent technology company that enables traceability and provenance to high value goods, has partnered with Rare Carat, America’s #1 source of unbiased diamond advice for over $200 million of diamond sales annually, to deliver greater transparency and sustainability information on the diamonds in its marketplace. Using the newest version of Everledger’s leading blockchain platform, Rare Carat customers will now be able to search for and purchase diamonds that have been tracked from mining, through manufacturing all the way to sale. This ensures that the diamond being purchased is conflict-free and has been sourced in a sustainable manner.
The Solution
The Everledger platform specifically aids demand generation for retailers searching for
diamonds based on their sustainability efforts, credentials and compliance standards. It also
matches suppliers who want to securely share this valuable data with individual retailers, brands
or groups of retailers – helping to alleviate some of the industry issues caused by the effects of
the global pandemic.
“Both retailers and customers directly benefit from having a permanent digital record of a diamond’s origin, characteristics and ownership, and this is particularly relevant to younger generations that the diamond industry is keen to attract, who put more weight into understanding the sustainability and ethics of a desirable item,” said Scott Austin, Everledger’s SVP for the Americas.
The Results
Amy Curtis, Everledger’s Sales Director, USA at Everledger, added: “We’re pleased to partner with Rare Carat to bring to light the provenance of a Diamond and differentiation within the online diamond purchasing process.”
Apeksha Kothari, Chief Operating Officer at Rare Carat, said: “Diamonds may be transparent, but the diamond supply chain isn’t always as transparent as it could be. Rare Carat’s partnership with Everledger is a step in the right direction in improving much-needed transparency right down to the retail level. Consumers will get access to provenance reports and be able to reliably track the diamond through the blockchain. At Rare Carat our mission is to help customers buy their diamonds with confidence. And part of this is providing customers with trust on ethical sourcing. To this end, we are thrilled to partner with Everledger to help give our customers this source of truth on the journey of a diamond.”
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