Blockchain changing the world's jewellery landscape, and Chow Tai Fook joins the revolution

A new initiative by one of Hong Kong's leading jewellery retailers will see diamonds sold in its T Mark-branded stores "Graded" for customers, by the respected Gemological Institute of America, a non-profit industry research body Developed with leading blockchain solutions provider Everledger and secured by the IBM Blockchain Platform, the new service will show exactly where the diamonds came from and what quality they are, said Alan Chan, Chow Tai Fook Jewellery Group's general manager of group branding By digitalising the diamonds' certificates of authenticity, shoppers will in future be able to access a blockchain record of any they buy from the company.

Officials say 3,000 T Mark diamond reports are ready on its blockchain, and that coverage will eventually be extended to 10 stores and 10,000 diamond for sale Hong Kong tycoon Henry Cheng shrugs off retirement rumours at Chow Tai Fook results announcement This partnership between Chow Tai Fook and GIA is one of the first consumer-facing initiatives to offer diamond grading information directly to customers, in what the company considers an important industry breakthrough, given that it provides a direct blockchain-based service to the general public.

Global diamond giant De Beers Group also ventured into the world of blockchain earlier this year. . Source