JD.com Everledger blockchain tie up focuses on diamond provenance

UK startup Everledger has partnered with Chinese retailer JD.com, and the Gemological Institute of America (GIA), on an online diamond purchases project.

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 the retailer's mobile and desktop websites.

Its customers will be able to check the validity of a GIA diamond grading report and will have online access to insights into the characteristics of their diamond before the diamond and its GIA report even arrives at their doorstep.

The Everledger 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.

Junshu Fu, Jewellery Division General Manager of Fashion & Home Group at JD.com, says: “This cooperation has multiple meanings. On the one hand, JingZhi Alliance, the jewellery quality assurance programme, has now added another important component – GIA, the world's largest diamond certification organisation, with its professional verification services.”

“On the other hand, blockchain technology provides a more credible and assured online diamond purchase experience for consumers.”

Chris Taylor, Everledger’s Chief Operating Officer, adds: “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.”