Sep 20, 2019

Everledger Launches Version 2.0 of its Blockchain Platform; Widens Application

Technology company Everledger has announced the launch of version 2.0 of its blockchain platform, providing, it said, “increasing levels of transparency across complex and regulated supply chains”. 

As a result, industries from diamonds to luxury goods will benefit from the convergence of blockchain technology with responsible business practices, the Company noted.

Everledger, which was founded in 2015, creates solutions that harness the benefits of blockchain together with other cutting edge technologies, such as AI and intelligent labelling. “The Everledger platform creates secure and permanent digital records of an asset’s origin, characteristics and ownership across its lifetime, benefiting those industries and companies that face strict requirements to evidence the provenance and traceability of their products,” the Company said describing its platform’s capabilities.

With the launch of version 2.0, Everledger not only covers diamonds, but has increased its remit to gemstones, fine wine, luxury goods and e-waste management.

Elaborating on its application Everledger said: “Across the diamond industry, for example, the Everledger blockchain platform integrates and surfaces data from miners, manufacturers, certification houses and retailers, ultimately enabling them to drive a positive social and environmental impact. Consumers have direct access to independent information of a diamond’s characteristics and ownership record via desktop or mobile.”

Bharat Kakadia, Executive Director of Sheetal Group, one of India’s leading diamond manufacturers, commented: “Everledger has presented a thorough understanding of the myriad of exigencies that luxury brands are requiring for greater transparency.”

The Company also gave the example of US-based retailer Fred Meyer Jewelers which uses the Everledger platform to depict the journey of diamonds in its Rock Solid collection, which it will extend across 100 stores, starting October.

Kirsten Darrow, Fred Meyer Jewelers Group Vice President stated: “We are excited to be able to offer Rock Solid Diamonds to our customers, as part of our on-going commitment to responsibly sourced and transparent jewellery supply chains. Being able to provide a fully transparent and intimate connection between our customers and their diamonds brings real meaning and value to their precious investment.”

Recently, Everledger launched a new partnership with Spanish jewellery designer and manufacturer Facet, supporting the launch of their new collection of blockchain-enabled diamonds, DiamondByway, citing it as the first collection of traceable jewellery in Europe. 

José Miguel Serret, founder and CEO, emphasised: “We are very proud to be a pioneer in Europe in diamond traceability. For more than 30 years we have been fostering increasing levels of good business practices in our supply chain. Now, with the launch of this collection powered by the Everledger platform, we can provide the evidence that our customers in retail and end consumers have long been waiting for.”

Everledger has also forged an ethical gemstone collaboration – Moyo Gemstones -- together with Pact and the Tanzanian Women Miners Association (TAWOMA), as well as ANZA Gems and Nineteen48 to support the interests of Tanzanian female miners and their communities.

“Everledger provided the technological backbone for this partnership to bring gemstones to market, through its collaboration with Gübelin Gem Lab on the Provenance Proof initiative,” the Company elaborated. “To further facilitate access to small mining communities, Gübelin Gem Lab kindly enabled participants in the programme to have access to the platform at no cost, while Everledger sent experts pro-bono to Tanzania to scope needs, train the community, and help implement the pilot.”

Rebecca Villalobos, Pact Gemstones’ Programme Manager, said: “Because women are often disenfranchised in mining, we focus on empowering women miners to work safely, mine better, improve their financial security, and create stable, equitable markets for fair trade. We ensure that they have a voice in developing solutions to their specific challenges. Given Everledger’s and Gübelin’s focus on providing a no-cost solution for colored gems producers and manufacturers, we wanted to work with their platform to create traceability and document retention. Everledger has worked to co-design the project with the miners themselves and consider various technologies that can help the miners in formalization and market access.”