New version of its blockchain platform supports demand generation, sustainability and compliance for manufacturers and jewellery retailers, also announces its new bridge funding through the UK government’s Future Fund and Tencent.

LONDON, UK - Media OutReach - 15 July 2020 - As the diamond industry adapts to the disruption of theCOVID-19 pandemic, Everledger has launched of a new version of the EverledgerPlatform, with additional features that match the supply and demand of stonesbased on criteria set by potential buyers. True to its mission, Everledgerbrings additional transparency to the industry by capturing key characteristicsof the stones on the platform: diamond quality, sustainability footprint andcompliance standards.

Due to the lockdown in major cities across the world,many jewellery retailers and diamond manufacturers closed and there was supplychain uncertainty. To address this before markets begin opening up, and in timefor the peak season of Double 11, Christmas and Chinese New Year, Everledger isproviding a secure application that will help to improve recovery.

Commenting, Everledger CEO Leanne Kemp said: "For mostcrises, there's a life cycle. We are now beginning to see green shootsespecially in Asia and particularly China, significant signs of recovery asdemonstrated recently by the record breaking 618 sale. Consumption is on a steady rise in Chinaand particularly on ecommerce channels which have experienced a significantsales boost over the lockdown period."

The new version of the Everledger Platformspecifically aids demand generation for retailers searching for diamonds basedon their sustainability efforts, credentials and compliance standards. Ofcourse, this goes the other way, by matching suppliers who want to securelyshare diamond, sustainability and compliance data with individual retailers,brands or groups of retailers.

Ms Kemp complemented: "This enriched release of theEverledger Platform is open for the diamond industry, as we work hard over thenext couple of months to provide the same level of transparency across theother industries we work with, such as Wine and Spirits, Luxury and Apparel,and Circular Economy, especially managing the life cycle of batteries in ElectricVehicles and Portable Electronics."

Like-minded partners

A key improvement in the platform is the increasedsupport for demand generation. Everledger offers a privileged networking toolfor connecting like-minded retailers and suppliers. The Search functionprovides a match-making tool, allowing participants to search criteria acrossthree main categories: Diamond Quality, Sustainability Efforts and ComplianceStandards. This allows suppliers to boost their sales, while sharing dataaround their efforts to reduce carbon impact and adhere to high compliance standards.

With Automated Data Sharing, suppliers can creatediamond data sharing rules to ensure new and updated diamond data is sharedwith retailers automatically. This offers the opportunity to reach moreretailers as their ecosystem grows.

Ever more transparency

Transparency remains a bedrock of the updatedEverledger Platform. An exciting evolution is the introduction of Badges. Theseproof-points (e.g. carbon offsetting certifications, Kimberley Processcertificate, invoices, etc.) reveal a diamond's origin, characteristics, andcompliance standards, thus enabling the value chain to trade with higherdegrees of confidence.

Using the Access Control List, manufacturers andretailers can determine different access rights for their data on the platform,ensuring the highest levels of data privacy and control, both within theircompany and to select partners. Withthis upgraded platform, Everledger is enhancing its reputation forblockchain-powered privacy and security. Everledger was certified ISO 27001 lastyear, which represents the highest level of security management for sensitivedata.

Today's launch focuses predominantly on the diamondindustry and its key stakeholders, but the platform will soon carrytransferable features through to all verticals, including fine wines,gemstones, e-waste, apparel and luxury goods.

Strengthening its position tolead the future of transparency

The launch of Everledger's new platform comes off theback of a USD7 million funding round from the UK Government's Future Fund andTencent. Tencent has continued its investment in Everledger, following thecompany's $20 million series A funding round at the back end of last year.

Ms Kemp emphasised the importance of China forEverledger: "Last year we launched the world's first WeChat Mini Program forblockchain-enabled diamonds, and this year we'll be announcing a partnershipwith one of China's largest e-commerce companies. Having Tencent on board isinvaluable for strengthening and extending our developments in China."