GIT News

February 27, 2020

GIT’s Representative to be sitting on the Provenance Proof Advisory Board A milestone of international collaboration to foster transparency and to empower Thai gemstone Industry

Following up on the workshop on "A New Facet of Jewelry Business: Coloured Gemstones Blockchain Traceability" hosted by the Gem and Jewelry Institute of Thailand (GIT), together with the Bolliger & Company (Thailand) Ltd. on February 27, 2020.

The workshop has successfully engaged stakeholders in the Thai gemstone and jewelry industry with more than 50 entrepreneurs attended. The event featured a walk-through session for users to adopt the Provenance Proof Blockchain traceability system, presented by Mr. Klemens Link, Head of Development at Provenance Proof and the Gübelin Gem Lab, both companies are part of the House of Gübelin. Provenance Proof, an initiative from the House of Gübelin, creates services and technologies enabling and promoting more transparency to the entire gem and jewelry industry.

The Provenance Proof Blockchain is one of these innovative technologies. The first blockchain for colored gemstones is a digital, tamper-proof logbook tracking the relevant data along the supply chain, from one owner to the next. It is open to any stakeholder of the gemstone and jewelry community who is ready to embrace transparency, and free of charge as costs are born by the Gübelin family.

The workshop is carried out under the project study entitled "Study on Tracking and Traceability Framework for Coloured Gemstone" by the Bolliger & Company (Thailand) Ltd. one of the leading consulting company in Thailand. The main objective to develop the gem and jewelry industry for its supreme operability in the global market.

This collaboration is an important stepping stone for Thai gem and jewelry industry as it will allow us to be in the frontline of technological disruption and have the concerns of Thai gem and jewelry industry adequately represented in the further development of Provenance Proof platform. The successful workshop hosted earlier last February paved the way to further cooperation between the GIT and Provenance Proof.

"GIT will participate at the Provenance Proof Advisory Board and will help to lift up the operability and transparency of Thai gem and jewelry industry in the global market and GIT is proud to be partnering with Provenance Proof, and we are ready to assist Thai entrepreneurs in utilizing the system." Mrs. Duangkamol Jiambutr, GIT Director revealed.

Serving with an independent blockchain system for the global gemstone and jewelry sector, Provenance Proof Blockchain will be supervised by GIT and the multi-stakeholder advisory board to ensure effective development and maintenance.