Blockchain technology and smart contracts have opened up a whole new world of digital possibilities. At their most basic, smart contracts use precoded instructions to trigger outputs given certain inputs. Sophisticated smart contracts will even automate some or all outputs once the trigger event is set in motion. The technology can even allow notification of
As the diamond industry re-emerges from the Covid-19 shutdown, Everledger CEO Leanne Kemp urges business leaders to widen their perspective on what really matters to consumers. The diamond industry was reeling, even before Covid-19 hit it with an uppercut. In India, for example, where the vast majority of stones are cut and polished, many manufac
Louise Mercer, Chief Experience Officer at Everledger, argues that new retail behaviours from the last 12 months won’t be unlearned in the luxury goods market. This rapid evolution pushes the need for digital provenance up the agenda.
Everledger’s Amy Cooper-Curtis talks to the people behind Fred Meyer Jewelers’s Rock Solid Diamonds brand about the importance of differentiation, as the industry seeks to rebound from the disruption of COVID-19.
Everledger’s Head of Sustainability Carrie George asks whether the application of OECD Due Diligence in the diamond industry can help raise standards all along the pipeline, in response to growing consumer expectations for ethical sourcing.
Gemstone track and trace methodologies, of which blockchain-enabled gemstones form a significant improvement to foster more transparency, are becoming central to any supply chain required to provide evidence of its responsible business practices.
Tom Murphy, Everledger’s head of product, discusses the latest features of the Everledger Platform, which will support demand generation, sustainability and compliance for diamond retailers and manufacturers.
In the mid 2010s, blockchain broke free of its tag as a cryptocurrency technology. New applications have demonstrated the wider ability of blockchain to disrupt supply chains where there is a need for increased efficiency, transparency and interoperability across supply chains and where opaqueness has led to concentration of control.
Transparency remains a challenge for the diamond industry, especially diamond provenance. It can still be extremely difficult to verify diamond provenance, or in other words, the origin, characteristics, materials, quality, chain of ownership and sustainability practices of any given stone and suppliers.