Connect with us

Press Releases

Everledger, GIA And JD.com Join Forces

The platform will also be used to prevent grading report fraud.

mm

Published

on

(PRESS RELEASE) Everledger has partnered with JD.com, China’s largest online and offline retailer, with more than 380 million active users, and the Gemological Institute of America (GIA), the world’s foremost authority on certification of diamonds, to help increase trust and transparency in diamond provenance and further confidence in online diamond purchases.

Through blockchain interoperability technology, the Everledger platform syncs GIA diamond grading information to the JD Blockchain Anti-counterfeiting and Tracing Platform, and provides customers with independently verified diamond certificates and origin information through the JD.com app, as well as on JD.com’s mobile and desktop websites.

Video: How to Find a Good Manager for Your Jewelry Store
Jimmy Degroot

Video: How to Find a Good Manager for Your Jewelry Store

Video: Sharpen Your Bridal Jewelry Presentations
Jimmy Degroot

Video: Sharpen Your Bridal Jewelry Presentations

Video: Maximize on the Opportunities That 2020 Brought the Jewelry Industry
Jimmy Degroot

Video: Maximize on the Opportunities That 2020 Brought the Jewelry Industry

GIA is the world leader for determining the quality of diamonds based on its universally recognised 4Cs diamond grading methodology. Through this collaboration, JD.com’s customers will be able to check the validity of a GIA diamond grading report and will have online access to valuable insights into the characteristics of their diamond before the diamond and its GIA report even arrives at their doorstep.

The application of blockchain technology in e-commerce to store verifiable grading report information on the blockchain for consumers to interact with will provide unprecedented levels of transparency into the quality and authenticity of the diamonds consumers purchase online, thereby enhancing the digital e-commerce experience and building more trust in China’s online jewellery market.

The platform will also be used to prevent grading report fraud. Algorithms will help JD.com to identify and reduce the fraudulent use of GIA reports, such as by checking that multiple diamonds aren’t being sold with the same report. This will be supplemented by livestreams and customer education initiatives to help customers learn how to avoid fraudulent activity when purchasing diamonds, all of which will provide a superior digital user experience. These improvements are of key importance in the Chinese market, where digitally-savvy millennials account for 68% of diamond sales compared to only 45% worldwide.

Junshu Fu, jewelry division general manager of fashion & home group of JD.com, said: “This cooperation has multiple meanings. On the one hand, JingZhi Alliance, the jewelry quality assurance program, has now added another important component – GIA, the world’s largest diamond certification organization, with its professional verification services. On the other hand, blockchain technology provides a more credible and assured online diamond purchase experience for consumers.”

Advertisement

Xinlei Zhai, head of blockchain at JD Digits, said, “The successful cross-chain collaboration is realized by the JD Blockchain Anti-counterfeiting and Tracing Platform and international blockchain supply chain company Everledger, in order to achieve a strong technical support for diamond traceability services, which is not only a benchmark for the future cross-chain or multi-chain collaborative scenarios, but also an important step in the international cooperation of JD blockchain.”

Chris Taylor, Everledger’s COO, added, “Given the growth in e-commerce, fraud is a very real risk in the diamond market, which is why it’s so important that consumers have access to secure and trustworthy information. By bringing cutting edge blockchain technology, online luxury shopping, and GIA’s gold standard grading expertise together on JD.com, we’re empowering consumers to purchase luxury items with increased confidence.” “Everything GIA does – our research, education and of course grading millions of diamonds each year in our laboratories around the world – has the singular mission of protecting consumers,” said Pritesh Patel, GIA’s Chief Operating Officer. “The innovative and transformational integration of Everledger’s blockchain expertise and JD.com’s impressive reach and consumer relationships with GIA’s industry-leading diamond expertise and universally-accepted grading reports is a major step forward for consumer confidence.” This collaboration marks the next step in Everledger’s expansion in China, which started in 2018 when it collaborated with GIA and leading jewellery brand Chow Tai Fook to use blockchain technology to deliver secure, digital diamond grading reports to consumers for the first time. Everledger also introduced a WeChat Mini Program e-commerce solution in partnership with ALROSA (the global leader in diamond mining). Furthermore, Tencent, one of the world’s most important internet companies, led Everledger’s Series A round of investments last year.

Leanne Kemp, founder and CEO of Everledger, said: “Bringing this level of transparency into the Chinese jewellery industry marks another exciting and important milestone on our journey towards providing clarity for the supply chains that need it most. Consumers in China can now purchase diamonds safe in the knowledge that they have access to the most accurate and authentic grading information at the click of a button.”

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | Sollberger’s

Going Out of Business Is an Emotional Journey. Wilkerson Is There to Make It Easier.

Jaki Cowan, the owner of Sollberger’s in Ridgeland, MS, decided the time was right to close up shop. The experience, she says, was like going into the great unknown. There were so many questions about the way to handle the store’s going-out-of-business sale. Luckily for Cowan, Wilkerson made the transition easier and managed everything, from marketing to markdowns.

“They think of everything that you don’t have the time to think of,” she says of the Wilkerson team that was assigned to manage the sale. And it was a total success, with financial goals met by Christmas with another sale month left to go.

Wilkerson even had a plan to manage things while Covid-19 restrictions were still in place. This included limiting the number of shoppers, masking and taking temperatures upon entrance. “We did everything we could to make the staff and public feel as safe as possible.”

Does she recommend Wilkerson to other retailers thinking of retiring, liquidating or selling excess merchandise? Absolutely. “If you are considering going out of business, it’s obviously an emotional journey. But truly rest assured that you’re in good hands with Wilkerson.”

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Facebook

Latest Comments

Most Popular