Alrosa and Everledger are introducing a WeChat Mini Program to Chinese retailers, demonstrating the ability of blockchain technology to enable the purchase of diamonds with transparency of their origin, characteristics and ownership history.
Created by diamond producer Alrosa and technology company Everledger, the program pilot aims to provide transparent and secure diamond information for potentially a billion active WeChat users. It is also the first product to capitalise on the synergy between Everledger and their new investor, Tencent, which operates the WeChat social platform.
The program pilot will showcase diamonds from Alrosa, enabling full traceability from mine to consumer. It will be offered as a white label API for jewellery manufacturers and retailers in China who wish to offer consumers more innovative and insightful stories about their products and their brand.
This could enable a better informed and more secure purchase for consumers, as well as an improved online to offline user experience. By enabling new touch points between consumers, jewellery manufacturers and retailers, the progam could encourage brand differentiation in the competitive Chinese luxury market.
Consumers will be offered transparency around the origin, characteristics and authenticity of the jewellery they purchase. Using the program on their smartphones, consumers can check an individual diamond’s full provenance and unique certificate information, purchase the diamond in the program using WeChat Pay, and also attest its ownership through the Everledger blockchain platform.