Coloured gemstone miner Fura Gems Inc. announced that it has launched a pilot of the Provenance Proof Blockchain for the coloured gemstone industry, which has been developed by the Gübelin Gem Lab in association with technology company Everledger, for emeralds from its Coscuez mine in Colombia.
The blockchain system, first announced in 2017, can be used in conjunction with the Gübelin Gem Lab’s Emerald Paternity Test, for which DNA-based nanoparticles that are applied to a rough emerald at the mine, act as tracers carrying information regarding provenance from the mine to the market. It has been trialled by Gemfields for its Zambian emeralds. Gübelin has now formally opened the system to the whole industry. The blockchain system is free to use.
Fura tested the system using samples of emeralds from Fura’s Coscuez mine. Fura said the initiative was part of a wider strategy to promote Colombia and Colombian emeralds as global leaders in responsible mining practises.
Fura President and CEO Dev Shetty commented, “We firmly believe that the application of blockchain technology to the coloured gemstone industry will raise best practices and serve the entire supply chain, by educating consumers, promoting transparency and providing a platform from which producers can demonstrate their commitment to preserving the environment and contributing to local communities through education, training and employment opportunities.”
He added, “This is also a significant moment for Fura and Colombia, as we have the opportunity to set a new precedent for responsibly sourced emeralds, and Fura is proud to have supported this project from its inception.”