31.12.2020 8:22:00 PM By Kundan

In our initial survey we found that there are reasonable number of merchants who doesn't seemed to be comfortable sharing their data, specially in regards to supply chain. Some of them where also in a hazy situation in regards to disclosing the grade, and other facts of the gemstones. In our survey, we also found that "competition" was also a primary reason for obstructing the data (gem facts) getting revealed. 

The gem, and jewelry trade is still a relation based business at all level (B2B / B2C). Though brands, and e-commerce are increasing there portion, many items specially of high value are dealt on table. It was a tough situation for us to come up with the answer whether or not to reveal the data.

Our understanding from the survey was that the B2B, and the B2C trade is fragile, and vulnerable, without data sharing. Our understanding is based on simple theory, "The more you hide, the more it remains concise, living the space to defaulters". CVD Diamonds, and many other treatments to gemstone were the success stories due to the lack of data sharing. The gemologist putting their efforts are only able to help the industry with eliminating wrong practices of treatment, and synthesis, if they have the data of new development. In general, till the detection method reaches to the public, the defaulters have withdrawn the benefit, and left the market spoiled. 

We came up with the solution, and that was quite simple, respecting merchants interest. Merchants may have uneasiness to disclose the supply chain at B2B level, or may even at B2C level, but that doesn't mean, they may be uncomfortable to share other data which can really increase their sales, for example, a production video for that particular piece of jewelry. So the solution we are building will have complete option for the merchants to set the protocols for their data, and the extent of that protocols too, and when required whole trail can be traced. This will help to form a new environment for trade.