Blockchain and IoT technologies enable tracking of the entire diamond life cycle to improve customer confidence in jewelry
New York and London, 12 January 2021
Everledger, an independent technology company that enables traceability and provenance to high-value goods, has partnered with Rare Carat, America's #1 source of unbiased diamond advice for over $200 million of diamond sales annually, to deliver greater transparency and sustainability information on the diamonds in its marketplace. Using the newest version of Everledger’s leading blockchain platform, Rare Carat customers will now be able to search for and purchase diamonds that have been tracked from mining, through manufacturing all the way to sale. This ensures that the diamond being purchased is conflict-free and has been sourced in a sustainable manner.
The Everledger platform specifically aids demand generation for retailers searching for diamonds based on their sustainability efforts, credentials, and compliance standards. It also matches suppliers who want to securely share this valuable data with individual retailers, brands, or groups of retailers – helping to alleviate some of the industry issues caused by the effects of the global pandemic.
“Both retailers and customers directly benefit from having a permanent digital record of a diamond’s origin, characteristics, and ownership, and this is particularly relevant to younger generations that the diamond industry is keen to attract, who put more weight into understanding the sustainability and ethics of a desirable item,” said Scott Austin, Everledger’s SVP for the Americas.
Amy Curtis, Everledger’s Sales Director, USA at Everledger, added: “We’re pleased to partner with Rare Carat to bring to light the provenance of a Diamond and differentiation within the online diamond purchasing process.”
Apeksha Kothari, Chief Operating Officer at Rare Carat, said: “Diamonds may be transparent, but the diamond supply chain isn't always as transparent as it could be. Rare Carat's partnership with Everledger is a step in the right direction in improving much-needed transparency right down to the retail level. Consumers will get access to provenance reports and be able to reliably track the diamond through the blockchain. At Rare Carat our mission is to help customers buy their diamonds with confidence. And part of this is providing customers with trust on ethical sourcing. To this end, we are thrilled to partner with Everledger to help give our customers this source of truth on the journey of a diamond.”
Industries including wine and spirits, diamonds, gemstones, luxury, apparel, and circular economy, are all benefitting from the unrivalled levels of transparency provided by Everledger’s enterprise-grade blockchain platform.
To learn how to search and purchase stones through Rare Carat, visit www.rarecarat.com.
Founded in 2015, Everledger is an independent technology company helping businesses surface and converge asset information, using a symphony of secure technologies, including blockchain, artificial intelligence, intelligent labelling and Internet of Things. Our purpose is to contribute greater clarity and confidence in marketplaces where transparency matters most.
Everledger is committed to helping every link in the industry value chain to achieve a positive environmental impact from traceability. Our technology brings increased transparency to supply chains, benefiting stakeholders who adopt sustainable practices, while bringing visibility to their end consumers.
We digitally streamline our clients’ compliance processes, to help them demonstrate the lifetime story of an asset with greater efficiency and accuracy. As technology partners, we also support in powering resilience and sustainability. With information out in the open, we believe the value of many industries –from diamonds, to fine wines, to e-recycling – will be shared by all stakeholders throughout the value chain.
Everledger is certified with the ISO 27001 standard by the British Assessment Bureau, a testament to our robust, ongoing and systematic approach to information security. Everledger has been awarded a Technology Pioneer by the World Economic Forum in 2018.
For more information, visit: Technology Pioneer
Everledger spokesperson headshot and bio:https://www.everledger.io/press/press-resources/
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ABOUT RARE CARAT:
Rare Carat is the #1 diamond marketplace, connecting shoppers to the best jewelers in America. In just 4years, the marketplace has grown rapidly, powering over $200m in sales annually. The company's mission is to empower consumers to make smarter decisions by providing tools, transparency, and trust.