London: Everledger has announced the Diamond Time-Lapse Protocol, formed by the integration of the Diamond Time-Lapse initiative by Dharmanandan Diamonds, onto its existing first-in-world diamond provenance traceability blockchain platform.
An industry-first, the Diamond Time-Lapse Protocol engages everyone along the diamond supply chain including miners, dealers, manufacturers, retailers and consumers, to create and track the entire lifetime journey of a diamond that is accessible to all.
Standardised industry data forming the diamond provenance story, including origin, touchpoints across the diamond manufacturing process as well as official industry standard certifications, will be recorded and encrypted onto the blockchain.
Everledger Founder & CEO Leanne Kemp said, “We are pleased to be driving such a major industry initiative, ensuring data accessibility and transaction transparency for all stakeholders globally. The harmonisation of data protocols is imperative to ensuring a systemic approach to provenance tracking and reporting.”
“We understand the industry’s desire to provide authenticated provenance, stemmed from strong consumers’ interest in the lifetime journey of their diamonds.”
DDPL Director Sales & Marketing, Vipul Sutariya said, “As initiators of the Diamond Time-Lapse traceability program, we believe blockchain is a fascinating technology and breaks all the existing stereotypes of the diamond industry. Streamlining the processes of the diamond journey from mine to the consumers on the blockchain gives directional solutions to bring transparency and positive change in the industry.
“The DTL platform definitely benefits the industry at large but also adds value to the lives of the artisans and their families who have dedicated their generations to the trade.”
Two user interfaces are available in the Diamond Time-Lapse Protocol – Manufacturer & Retailer User Interface and Consumer User Interface. The former is a two-pronged platform for manufacturers and retailers. For manufacturers, it will allow data capture of the diamond asset as it moves through manufacturing processes. For retailers, pertinent retail information can be recorded when the diamond reaches point of sale.
The Consumer User Interface is in the form of a mobile application, in both native iOS and Android versions, where the customer is able to login and view the complete provenance report of their purchased diamonds.