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Jewelry Blog

The Tracr pilot program has gained a new jewelry industry heavyweight in Hong Kong-based retailer Chow Tai Fook Jewellery Group. Chow Tai Fook's more than 2,500 stores and Hearts On Fire brand has jumped on board De Beers' diamond blockchain. On top of the blockchain's newest addition, the two companies are also partnered up with Signet, which makes for an impressive roster for the Tracr program. 

Chow Tai Fook's Managing Director Kent Wong said in a statement of the company's partnership that “authenticity, provenance, and traceability are increasingly important in the jewelry sector, particularly for consumers who pursue to know the jewelry they purchase supports their values and expectations … We believe that our participation in Tracr will help ensure we are at the forefront of this important issue.” 

Chow Tai Fook has also partnered with the Gemological Institute of America. This recent team up will result in the use of blockchain in order to create and deliver grading reports digitally to the company's consumers, particularly of their T Mark brand of diamonds.

Information originally sourced from National Jeweler