Sarine Technologies Ltd has announced that the Aura Blockchain Consortium, founded by LVMH, Prada Group, Cartier, part of Richemont, and OTB Group, has chosen to partner with Sarine in relation to Sarine’s Diamond JourneyTM traceability solution and data for the Aura Blockchain Consortium platform.
Through this one-of-a-kind partnership for diamond traceability, the multi-stakeholder Consortium is laying out the very first foundations for best-in-class product traceability standards from raw material to finished product applied in the luxury sector.
Sarine has been selected by the Aura Blockchain Consortium to provide full diamond traceability across the entire supply chain, from extraction to polishing and setting. Sarine’s traceability solution is based on data independently and automatically generated by its IOT enabled systems being used throughout the pipeline by many of the industry's leading producers and midstream polishers, without resorting to non-verifiable declaratory inputs.
Daniela Ott, Secretary General of Aura Blockchain Consortium said: “There is perfect synergy between the Aura Blockchain Consortium and Sarine. By partnering with Sarine in relation to Sarine’s comprehensive traceability technology, we are establishing a one-of-a-kind technological solution with significant added value to both luxury brands and their customers. This new solution will provide complete transparency on product sourcing history and verifiable authenticity documentation, which is key to strengthening consumer trust in brands and fostering a long-term relationship, which is critical in today's rapidly evolving retail landscape. We anticipate additional leading luxury brands will soon be joining our unique consortium."
David Block, CEO of Sarine Technologies, commented: “It is an honor to have been selected to partner with the esteemed Aura Blockchain Consortium of leading luxury brands. This new endeavor will enable global luxury brands to benefit from our uniquely comprehensive and factual traceability solution in order to increase supply chain transparency, thereby increasing consumer confidence. Our solution enables the jewelry houses the ability to implement a traceability solution based on blockchain technology that is easily scalable and with low overheads to all their suppliers in the upstream and midstream diamond value chain."
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
Exclusive
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
