Dharmanandan Diamonds (DDPL), a Mumbai-based manufacturer, has partnered with technology company Everledger to place its diamond-tracking data onto the technology company's diamond blockchain platform, which it launched in 2015. The "Diamond Time-Lapse Protocol" integrates Dharmanandan's Diamond Time-Lapse initiative, which tracks a stone’s journey from rough to retail, onto its proprietary diamond traceability blockchain platform to set a diamond's provenance into (digital) stone. The Diamond Time-Lapse Protocol engages everyone along the diamond supply chain including miners, dealers, manufacturers, retailers and consumers, to create and track the entire lifetime journey of a diamond that is accessible to all. Consumers will be able to view the entire provenance report with a mobile app, Everledger said in a statement last week.
Through the arrangement, it will now be possible to encrypt the information in Time-Lapse reports directly onto Everledger’s blockchain platform, at either the manufacturing or the retail stage. Standardised industry data forming the diamond provenance story, including origin, touch-points across the diamond manufacturing process as well as official industry standard certifications, will be recorded and encrypted onto an immutable platform - the blockchain. Everledger Founder & CEO Leanne Kemp said, “We are pleased to be driving such a major industry initiative, ensuring data accessibility and transaction transparency for all stakeholders globally. The harmonisation of data protocols is imperative to ensuring a systemic approach to provenance tracking and reporting. We understand the industry’s desire to provide authenticated provenance, stemmed from strong consumers’ interest in the lifetime journey of their diamonds.”
DDPL Director Sales & Marketing, Vipul Sutariya said, “As initiators of the Diamond Time-Lapse traceability program, we believe blockchain is a fascinating technology and breaks all the existing stereotypes of the diamond industry. Streamlining the processes of the diamond journey from mine to the consumers on the blockchain gives directional solutions to bring transparency and positive change in the industry. The DTL platform definitely benefits the industry at large but also adds value to the lives of the artisans and their families who have dedicated their generations to the trade.”
Two user interfaces are available in the Diamond Time-Lapse Protocol: one for manufacturers and retailers, and another for consumers. The former is a two-pronged platform for manufacturers and retailers. For manufacturers, it will allow data capture of the diamond asset as it moves through manufacturing processes. For retailers, pertinent retail information can be recorded when the diamond reaches point of sale. The Consumer User Interface is in the form of a mobile application, in both native iOS and Android versions, where the customer is able to login and view the complete provenance report of their purchased diamonds.