Today blockchain firm Everledger announced a partnership with China’s largest e-commerce company JD.com and the Gemological Institute of America (GIA). Together, they aim to increase the public’s trust in online diamond sales by implementing a blockchain solution that verifies diamond authenticity.
While Everledger supplies solutions to several industries, it started in the diamond sector, where it has strong relationships with the likes of ALROSA, the world’s second largest diamond miner. U.S. non-profit GIA is regarded as the world’s foremost authority for the certification of diamonds.
Customers struggle to understand whether products are genuine with in-person diamond sales, but the task is even harder with ecommerce. That’s exacerbated by the plummet in diamond sales in the wake of COVID-19 which have forced sellers increasingly turning to online platforms.
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