Jewellery brand Chow Tai Fook and the Gemological Institute of America (GIA), a diamond grading authority, will use blockchain technology to deliver digital diamond grading reports to consumers for the first time.
Clients of Chow Tai Fook’s diamond brand will receive a permanent and immutable blockchain record of their diamond’s GIA grading information. This service will first be piloted in selected Hong Kong stores before expanding to other locations at the end of 2018.
The initiative was developed with blockchain solutions provider Everledger and is secured by the IBM Blockchain Platform.
Leanne Kemp, Everledger CEO, said: “We are delighted to be working with two industry giants to provide assurance for customers through our pioneering work with blockchain technology for the diamond industry.”
Kent Wong, managing director of Chow Tai Fook , said: “We are very proud of our cooperation with GIA which gives our customers additional assurance and transparency, and the opportunity to have both diamond grading and diamond traceability information at their fingertips.”