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JEWELTREE FOUNDATION AND EVERLEDGER JOIN FORCES TO PRESERVE THE AUTHENTICITY OF DIAMOND CERTIFICATION

April 19, 2016

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JEWELTREE FOUNDATION AND EVERLEDGER JOIN FORCES TO PRESERVE THE  AUTHENTICITY OF DIAMOND CERTIFICATION

Antwerp / London, 19th April 2016 – Blockchain FinTech company Everledger and Jeweltree Foundation, a certification and promotion platform for diamond miners and mining communities,  announce today a strategic cooperation to power Jeweltree’s next generation platform by using blockchain technology to legitimize the tracking and provenance of diamonds.

In an increasingly digital world, the occurrence of counterfeit diamonds being traded or sold online has become a widespread problem for both the suppliers and customers at either end of the supply chain. The use of a digital ledger on the blockchain guarantees immutability, security and an absolute peace of mind for the customer looking to purchase an authentic product.  For the manufacturers, it means less administrative tasks, greater  accountability and proof of authenticity  for the goods they sell.

This cooperation makes it easier and more effective for Jeweltree Supporters to file their information into the database and request a certificate. And diamonds are only the start, with expansion to precious metals and gemstones earmarked as the next step to ensure transparency and provenance.

The collaboration, which allows for a deep technological integration between both platforms, means that Jeweltree’s protocols will directly operate on Everledger’s unique blockchain technology. The technology changes the conceptual understanding of trade, ownership and trust by preserving the authenticity of any luxury item through the creation of a permanent digital record.

As a result, Jeweltree can provide its supporters and network partners with bank grade API’s, relevant for filing information, supply chain monitoring and fraud detection. This comes integrated with Everledger’s self-executing smart contract protocols.

Jeweltree’s Chairman Mike Angenent said: “This cooperation greatly improves our value proposition to diamond wholesalers, retailers and end consumers through scalability, speed and peace of mind. Everledger’s technology strongly supports our backend but also opens up possibilities for the mining communities we work with. It has put an engine in the Ferrari that is Jeweltree.”

“The cooperation with Jeweltree is built on clear synergy effects for both organizations and thus our customers,” said Leanne Kemp, CEO at Everledger. “Jeweltree’s experience with mine to finger certification and its support for the artisanal and often overlooked aspects of the diamond supply chain adds another layer to Everledger’s focus on provenance and fraud detection. Our aim is to provide global industries with advanced and emerging technologies enabling transaction transparency, coupled with personalization capabilities and additional sales power. The partnership with Jeweltree is another measurable step in this direction.”

About Everledger

Everledger is a permanent, digital global ledger that tracks and protects items of high value, from diamonds to other luxury goods. Using  a database network based on blockchain technology, Everledger provides insurance companies, owners, claimants and law enforcement with an immutable history of the items authenticity, existence and ownership.

Everledger was founded by Australian tech entrepreneur Leanne Kemp in April 2015. As of March 2016, Everledger added over 980,000 certified diamonds, smart contracts for the transfer of ownership and bank grade APIs for high volume transactions to the system.

Supported commercially by Allianz, AVIVA, Barclays, BBVA through their open talent accelerators and digital garages, Everledger is leading the market in real world application of blockchain technology. Everledger is listed in the top 25 most exciting Bitcoin startups globally and has won numerous awards including the Meffy Award 2015 for Innovation in FinTech, BBVA Open Talent 2015 and Fintech Finals Best in Show. 2016 Winner European FinTech Awards and recently announced as Top 50 Fintech Companies.

About Jeweltree

The Jeweltree Foundation is a non-profit organization, founded in 2009, that promotes a vision of modern ethical capitalism, where profit is made without harm or offence to anyone.
Jeweltree works alongside and in cooperation with industry partners to promote transparency, ecological sustainability and social responsibility.
Jeweltree has successfully certified diamonds that featured on the Red Carpet for the Oscar Nominations  and they have set up the track and trace protocols for the import and polishing of Development Diamonds from Sierra Leone in cooperation with the Diamond Development Initiative. Jeweltree’s support base stretches all continents, from Brazil to Japan and from Sweden to Australia.

Press Contact Everledger: Claire LaRocca, media@everledger.io
Press Contact Jeweltree: Mike Angenent, mike@jeweltreefoundation.org

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