IBM and a consortium of gold and diamond industry leaders have announced a cross-industry initiative to use blockchain to trace the provenance of finished pieces of jewellery across the supply chain for increased transparency. Asahi Refining (precious metals refiner), Helzberg Diamonds (U.S. jewelry retailer), LeachGarner (precious metals supplier), The Richline Group (global jewellery manufacturer) and UL (independent, third party verification) are launching the TrustChainTM Initiative, powered by the IBM Blockchain Platform, delivered via the IBM Cloud.
TrustChain is initially tracking six styles of diamond and gold engagement rings on the blockchain network. As the program continues to develop, Trustchain™ jewellery is expected to be accessible to consumers in participating retail stores by the end of 2018.
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