Editor’s Note
This article explores the origins of Provenance Proof AG, a startup born from the renowned Gübelin family business. Driven by a vision for greater transparency in the gemstone industry, the initiative leverages advanced technology to trace a gem’s journey from its source to the market.
Provenance Proof is a startup from the family-owned company Gübelin. It all began with the need for more transparency and traceability in the gemstone and jewelry industry. Innovation has always played an important role in the tradition of the House of Gübelin. Raphael Gübelin’s vision to illuminate the origin of a gemstone and better highlight the supply chain using cutting-edge technologies was the driving force behind the launch of the Provenance Proof initiative in 2017. The entire value creation chain of the gemstone industry is thus put to the test to create more transparency and trust.
In 2019, we launched the world’s first blockchain-based platform, which allows the journey of each gemstone, from rough stone to finished jewel, to be traced in an unfalsifiable manner. The same year, Provenance Proof AG was established as an autonomous subsidiary of Gübelin to guarantee transparency in the gemstone and jewelry sector as a neutral third-party provider.
The blockchain can be considered a kind of digital diary. All stakeholders involved in the gemstone’s value chain essentially insert a page containing their information into it. Simultaneously, the Provenance Proof blockchain enables the creation of a digital inventory throughout the supply chain of each mined gemstone. For each gemstone, a unique digital twin is created, visible exclusively to the stone’s owner. Blockchain technology offers high-level encryption and data immutability. This allows authorized individuals to gain insight into the supply chain and the origin of the gemstone. The consumer then has a digital twin with the jewel they purchased, accompanied by complete documentation and fascinating insights into the world of gemstones that would otherwise remain hidden to them. Now, nearly 9 million gemstones are registered on the blockchain and nearly 700 companies from over 50 countries are registered.
Cooperation with the Moyo Gems Program, a local initiative that markets ethically mined gemstones from Tanzania, serves as a great example of the benefits of our solution. The goal of this collaboration was to improve the working conditions for small-scale miners, predominantly women, in the Tanzanian gemstone industry through transparency. The results speak for themselves: this visibility put pressure on local authorities, who have since become increasingly committed to women’s safety. Demand for these traceable stones has also increased significantly. Jewelers and end customers are willing to pay a higher price for this transparency. This successful collaboration clearly demonstrates that transparency and ethical trade can bring real added value to all parties involved.
For decades, Lucerne has established itself as a major site for the watchmaking and luxury jewelry industry worldwide. In addition to important players in Swiss retail located in Central Switzerland, Lucerne holds a significant place on the map of the gemstone sector. Gemstones arrive in Lucerne from all over the world and are analyzed by the Gübelin Gem Lab on behalf of renowned auction houses, jewelry brands, and museums. Operating on the same site as these flagship companies gives us additional credibility and reputation, which has already opened doors for us internationally. For many, Lucerne is closely linked to jewelry and watches.
