Hong Kong-based diamond retailer Chow Tai Fook Jewellery Group has put some of its gems on a blockchain platform to track their origin and authenticity.
Chow Tai Fook has reportedly put some of its diamonds on a blockchain platform developed by blockchain startup Everledger and secured by the IBM Blockchain Platform. This will reportedly enable the retailer’s customers to ascertain the origin and authenticity of stones sold in its T Mark-branded stores, using a T Mark app.
Kent Wong, the retailer’s group managing director, outlined the importance of customer awareness to the entire cycle of diamonds:
Not only does this initiative make it easier for consumers to manage their assets conveniently and efficiently, it is a long-term and invaluable investment that enriches consumers’ knowledge of their diamonds.
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