Mumbai: Everledger and Hari Krishna Group (HK Group) have marked a new milestone with digital provenance tracking for diamonds to secure and trace the diamond provenance of Hari Krishna’s flagship private label brand, My Diamond Story, using blockchain technology. My Diamond Story is manufactured and distributed by the HK Group’s H.K. Designs – knowing for pioneering innovations and cutting-edge designs.
With this new development, Everledger, a global emerging technology enterprise, and the HK Group, one of the world’s largest diamond manufacturers and exporters, will see diamonds destined for its My Diamond Story range, cryptographically-certified and the information stored securely at every step of the process on Everledger’s blockchain-based platform.
As part of My Diamond Story, consumers will receive the Diamond Birth Certificate that chronologically captures six key stages within the diamonds transformation from rough to the finished jewellery item: My Rough Diamond, My Diamond Mapping, My Diamond Cutting andPolishing, My Diamond Grading, My Diamond Ring Design and My Diamond Hand Setting.
Everledger Founder & CEO Leanne Kemp said, “Our engineering teams are focused on providing blockchain, smart contracts and digital tooling to industry, enabling the technology to be consumed within business processes across all segment of the trade pipeline. We provide robust chains with security at scale.”
“We are delighted to be working with the HK Group, one of the world’s largest and most highly regarded diamond manufacturers within the industry, to bring the benefits of blockchain technology at scale. By engaging with stakeholders along the diamond supply chain, from miners, dealers, manufacturers to retailers, consumers can immerse themselves in the lifetime journey of their diamond.”
This announcement follows the HK Group’s recent initiative to incorporate blockchain into its updated mobile app for diamond buyers built on three primary objectives – simplicity, speed and security. The ethos of this Diamond Buying mobile application is to provide assurance for the authenticity of each and every diamond.
HK Group Managing Director Ghanshyam Dholakia said, “We recognise the industry need for transparency and increased confidence in provenance and have committed to many initiatives to ensure that we can continue to offer a quality product and service to our consumers.”
“Utilising Everledger’s long-standing diamond blockchain platform can help us to further strengthen our product offering to the industry and especially the end consumer. We are confident that this major innovative step will be a boost to our jewellery business, H.K Designs.”
With consumers increasingly seeking the story behind their gem, Everledger’s platform will provide them with the transparency and traceability that they are looking for. Other exciting features available as part of My Diamond Story includes smart ring boxes with built in LCD screen, that allows for personal media such as pictures, videos and music for the special occasion. Consumers are able to interact with the Diamond Story alongside the configuration of their own personal digital vault feature, available on smartphones, tablets and other mobile devices.