Editor’s Note
Provenance Proof, a Gübelin subsidiary focused on gemstone traceability, has launched an online marketplace for industry members. The platform allows users to view, upload, and purchase gems and pearls verified via its blockchain system.
Provenance Proof, the independent subsidiary of House of Gübelin created to increase transparency in the global gemstone market, has launched an online marketplace for traceable gems. The Provenance Proof Marketplace debuted today and is open to all industry members who are Provenance Proof blockchain users. Gemstones and pearls can be viewed, uploaded, and purchased on the platform.
Started in 2017, Provenance Proof’s platform includes the “emerald paternity test” to help trace stones to their mine of origin and a blockchain for recording provenance. The new marketplace, created in partnership with Everledger, connects buyers and sellers. Buyers can search for stones via filters, contact sellers directly, and view the gem’s complete journey on the blockchain before purchasing to assess if it matches their ethical and sourcing guidelines.
Whether product prices are listed publicly is up to the seller. Gübelin noted that wholesale prices will not be stored on the digital record visible to consumers. Provenance Proof Blockchain users can initially upload a select number of gemstones for free. After a free eight-week trial period, a subscription model will be introduced in early 2023. All features “essential to enabling more transparency” will remain free. A premium package, priced at $49 per month, will offer additional business-value features. Any stakeholder can list at least 20 gems for free on the marketplace every month, a feature permanently integrated into the basic subscription.
Gübelin said around 4 million gems and jewels have been uploaded to the blockchain to date, with more than 500 users joined, including over 120 jewelers and manufacturers.