How Blockchain Technology is related to Gem Trading.
                     How Blockchain 
Technology is related to 
Gem Trading?
Blockchain
• Blockchain technology, the same technology that 
underlies bitcoin, collects and records information -- 
including physical characteristics, source and history 
of ownership -- into an immutable digital ledger. 
Source: FuGenX 
Why blockchain?
• It helps to ensure the authenticity of information, 
making it more difficult to conceal corruption or 
counterfeiting along a product’s journey through the 
supply chain.
Source: Peerbits 
For Gem industry
• This is a useful innovation for the gems market. 
Essentially, blockchain technology can be used to trace 
the origins and verify the authenticity of goods and in 
the case of diamonds and other rare earth minerals, to 
ensure that they originate from sustainable sources.
Source: 3BL
Conflict-free diamonds
• Blockchain is the latest attempt to keep the diamond 
supply chain free and clear, since there has been 
widespread abuse and human rights violations on the 
miners and labourers.
Source: Coindesk 
What can blockchain do?
• Blockchain technology provides an opportunity to further 
improve diligence and sourcing practices, using a global 
digital ledger, enabled by blockchain technology, can 
securely track and trace the verified provenance of high-
value assets, like diamonds and gemstones
Source: Investopedia 
Actions taken
• Russia’s Ministry of Education and Science introduced a 
blockchain-enabled platform for tracking diamonds to 
bring transparency into the diamond industry, a 
complex ecosystem where corruption and 
irresponsible mining appear to be largely present.
Everledger
• The history of blockchain in the diamond industry can be 
traced back to May 2015, when Australian entrepreneur 
Leanne Kemp founded Everledger, a global digital registry 
for diamonds powered by the IBM Blockchain Platform.
Goals of Everledger
• One of its main goals was to solve the “blood diamonds” 
issue, i.e., preventing the circulation of diamonds mined 
in war zones and sold to finance oppressive regimes. 
Everledger uses grading reports provided by Gemological 
Institute of America (GIA) for assessing the diamonds.
Source: The Diamond Loupe 
Other issues 
• Blood diamonds are not the only issue, as gem retailers 
are also trying to detect laboratory-grown diamonds, 
which are less valuable among customers, and 
sometimes are sold as natural ones. 
Source: Richline Group