Russia’s ALROSA, the world’s largest diamond producer, has announced the launch of a blockchain program on one of China’s largest social platforms WeChat to help Chinese retailers track the origin of diamonds.
The Russian company said the e-commerce solution will be developed together with the technology company Everledger and will demonstrate “the power of Blockchain technology,” enabling traceability from mine to consumer.
According to ALROSA, consumers will be offered unprecedented levels of transparency and trust around the origin, characteristics and authenticity of the jewelry they purchase. ALROSA’s head of diamonds Pavel Vinikhin said,
“We are delighted to support this WeChat Mini Program with Everledger, as it reinforces our pursuit for sustainable mining and transparent supply chain information. Chinese consumers will be certain of the origin of their diamonds,”
“We believe demonstrating full provenance of our diamonds on the most popular social media platform will help us to further strengthen our sales base in China,” he added.
Using the Wechat Mini Program on their smartphones, consumers will be able to check an individual diamond’s full provenance and unique certificate information, purchase the diamond using WeChat Pay, and also attest their ownership through the Everledger blockchain platform.
Expressing enthusiasm about the innovation, Evgeny Gokhberg, Head of Europe at Everledger called it a groundbreaking initiative with the titans of the diamond and internet industries that will improve transparency in the industry.