Blockchain for Traceability: Redefining Transparency in the Jewellery Industry

As consumers grow more conscious of the origins of their purchases, transparency and traceability have become top priorities in the jewellery industry. Enter blockchain technology, an innovative tool that has the potential to revolutionise how the provenance of gemstones and jewellery is tracked. Traditionally, it’s been difficult for customers to verify where a gemstone was sourced and under what conditions. However, blockchain is changing that by providing a digital ledger that records every step of a product’s journey from mine to market. What is Blockchain? At its core, blockchain is a distributed digital ledger that records transactions in a way that is secure, transparent, and immutable. Each "block" contains data about a specific transaction, and once a block is added to the chain, it cannot be altered. This level of security and transparency is critical for industries like jewellery, where ensuring ethical sourcing has been a growing concern. For the jewellery indu...