At Everledger, we use the best of emerging technologies including blockchain for real-world applications in industries where transparency, trust and provenance matter most. This is delivered through our proven and scalable blockchain-enabled platform, expertise in emerging technologies as well as its deep domain knowledge through its strategic industry partnerships.
We protect high-value assets by providing industry stakeholders and consumers with an immutable history of the assets’ provenance. Using a forensic approach, we create a digital thumbprint of an asset with sensorial, physical and logical attributes through its lifecycle. This provides proof of authenticity, existence and ownership, driving stakeholder confidence in the provenance data.
The diamond industry has long been rife with challenges including unethical sourcing, environmental degradation, worker exploitation, document fraud, counterfeits, substitution of synthetics, all across an extremely opaque global supply chain. The high risk and fraud profile led to a £4 billion shortfall in the industry, as diamond financing from the banks was pulled and dedicated diamond banks folded.
With these issues, it was clear that an industry-shift was needed. In 2015, our Founder & CEO Leanne Kemp, with deep experience in entrepreneurship, tech, jewellery and insurance, saw the opportunity to apply the nascent technology of blockchain to the diamond supply chain. The core characteristics of blockchain of immutability, security, scalability and speed, makes it ideal to develop a digital ledger for provenance tracking. This is crucial to enable full transparency along the global diamond supply chain, where the movement of the diamonds from mine to finger is tracked and traced, accessible to permissioned parties.
As the first in the world to successfully turn a proof-of-concept blockchain platform into a scalable commercial application for the diamond industry, Everledger currently has the provenance of over 2.2 million diamonds on our blockchain-enabled platform.
Everledger was the first to apply blockchain technology to the diamond industry, offering a range of benefits for industry stakeholders, including:
Protection of diamond value throughout the supply chain.
Innate trust and transparency within the ecosystem.
Facilitation of responsible and ethical sourcing of diamonds.
Creation of new value-added offerings for retailers and end consumers.
Till date, Everledger has publicly announced partnerships with key diamond industry leaders to utilise its breakthrough emerging technology solutions. This includes the Kimberley Process, Gemological Institute of America, Chow Tai Fook, Brilliant Earth, Hari Krishna and Dharmanandan Diamonds.
Importantly, a transparent supply chain serves to drive responsible business practices and compliance which is integral to the industry. With consumers increasingly having high awareness of societal and environmental issues, demand for transparency has been strong. By tracking diamond provenance in an immutable manner, Everledger provides the industry with the capability to offer consumers the confidence in the diamonds purchased. This serves to drive industry growth and lifts the opacity of the supply chain.
Following the establishment as the leader in digital provenance for the diamond industry, Everledger has since expanded into other industries such as coloured gemstones, fine art and fine wine.