Hyper Ledger Offering A Safe Gem & Jewelry Ecosystem For Value Chain Participants

Hyper Ledger Offering A Safe Gem & Jewelry Ecosystem For Value Chain Participants

Origin has always been a main area of concern for the gem & jewelry industry. With retail outlets offering a bulk of the gem & jewelry sales, there has always been a significant element of uncertainty in the mind of the participants working within the retail network. To recognize the concept more clearly, one has to realize that the retailers, as well as the end customers, are unsure about the origin, genuineness, and worth of the items they are purchasing. The matching story is also valid within the ecosystem of the gem & jewelry industry. The certificates of confirmation and derivation are not always satisfactory from the point of view of the buyers. This difficulty can be resolved with the hyper ledger or a blockchain-backed jewelry and gemstone supply chain. Along with the cause it would also be able to confirm the faithfulness of the products being transacted in a trading ecosystem.

The response to all the questions related to the origin of gems and jewelry can be answered alone by a hyper ledger-based solution. Such a policy ensures unmatched traceability, safety, and legitimacy within the gem and jewelry industry.

The hyper ledger will leverage the entire gem and jewelry supply chain with a trust chain. The concept of a trust chain eventually comprises and ensures

  • The effortlessness of dealings with demonstrable smart contracts merge important data regarding the individual qualities of jewelry and gemstones like class, cut, carat and color
  • The consolidated data is followed up on a continuous immutable digital trail for every physical gem & jewelry 
  • Assures traceability, provenance, and authenticity right from the mines to the craftsmen to the final retail, online and wholesale checkout points

To summarize up, we can say that the hyper ledger can track a gem or jewelry through the entire value chain, ensuring unmatched asset traceability assurance in a way that was just impossible to have in the past.

Hyper ledger digitally verifies the gemstones and precious jewelry to ensure that all intermediaries and participants involved in the value chain are functioning with honesty and integrity. Member participants who are not compliant can be easily identified and rejected from the system.

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