Your diamonds, digitized
Secure, tamper-proof certificates will give buyers confidence in the authenticity of luxury goods
Buying a diamond often comes with questions: Is it genuine? Ethically sourced? Secure? Thanks to a bold new partnership between the World Gemological Institute (WGI) and fintech Vaultik, blockchain technology is now providing clear, reliable answers for luxury buyers worldwide.
Through this collaboration, WGI will tokenize $3 billion worth of diamonds, gemstones, and jewelry on the Hedera blockchain. Each certified item will come with a digital certificate that tracks its origin, quality, and ownership, offering consumers a foolproof way to verify their purchases.
To make it even safer, items will be sealed with chips that invalidate the certificate if tampered with. Buyers can scan these chips with their smartphones to access the item's complete digital history, ensuring peace of mind.
Global insurance broker Acrisure has also stepped in, integrating insurance directly into the digital certificates. This means customers can protect their valuables with just a few clicks—adding convenience and creating new opportunities for the industry.
“This partnership redefines how luxury goods are verified and protected,” said WGI CEO, Noam Lenzini. “Tokenizing certificates ensures buyers and sellers can trust a secure system for authenticating precious assets.”
Beyond this enterprise-level initiative, WGI and Vaultik are rolling out services for everyday consumers through an app. Whether it’s diamonds, watches, or handbags, users can verify their valuables with ease, setting the stage for a broader industry transformation.
As blockchain begins to reshape the luxury market, this partnership could be a game-changer, bringing trust, transparency, and innovation to both first-time buyers and seasoned collectors alike.
