Blockchain diamond tracker Everledger to partner with WeChat

UK-based blockchain and emerging tech company Everledger will team up with Chinese tech giant WeChat in an attempt to improve transparency and security when buying jewellery.

Buying verified diamonds with WeChat and Everledger

With more than a billion users, WeChat has the potential to widen the diamond jewellery market significantly.

In a partnership with Everledger and ALROSA, the largest producer of diamonds worldwide, the pilot seeks to enable WeChat users to buy gemstones, diamonds, and other types of jewellery with confidence and security.

The WeChat Mini Programme strives to provide an e-commerce solution for Chinese retailers. The aim is to demonstrate a real working use case for blockchain technology that allows users to purchase diamonds seamlessly.

Through the programme, diamond buyers will be able to trace their precious stones back to their origin, as well as be sure of their ownership history.

ALROSA teaming up with Everledger and WeChat will ensure the integrity of all the diamonds it produces, as well as allow users to buy more easily from their smartphones without worrying about purchasing false goods.

The new partnership makes a lot of sense for the UK-based Everledger. Its newest investor is the Chinese tech giant Tencent, which operates and develops WeChat, one of the largest social networks in the world.

The move also comes at a time when the Chinese people are becoming more and more aware of blockchain technology and its uses.

Commenting on the importance of the programme for Everledger’s expansion, COO Chris Taylor said:

“This exciting development mobilises our strong partnerships with Tencent and ALROSA to bring provenance and authenticity of diamonds to a new level of transparency in China. Making this information available to consumers’ fingertips via WeChat enables them to be sure about the source and the credentials of each item being purchased.”

Absolute transparency for Chinese buyers

For its part, ALROSA, which is committed to environmental and community-focused mining as well as championing women in the workplace, will provide full information on their diamonds extracted in Russia.

This data will be accessible on the Everledger blockchain and allow consumers to be sure about the diamonds’ ethical and sustainable footprint.

The WeChat Mini Programme pilot will allow Chinese retailers and manufacturers to offer an innovative product to their consumers, selling jewellery with a traceable history. This will allow them to distinguish their brands in the competitive Chinese luxury market.

It will also offer consumers an easy and quick way to scoop up luxury goods straight from their smartphones. They can check the provenance and unique certificate information of their chosen item and check out using WeChat Pay.

Pavel Vinikhin, head of diamonds at ALROSA, commented:

“We are delighted to support this WeChat Mini Programme with Everledger, as it reinforces our pursuit for sustainable mining and transparent supply chain information… We believe demonstrating full provenance of our diamonds on the most popular social media platform will help us to further strengthen our sales base in China.”