Vaultik and World Gemological Institute Tokenize $3B Worth of Diamonds and Gemstones on the Hedera Network

The partnership addresses some of the most pressing challenges in the luxury market, including fraud, inefficiency, and lack of transparency.

World Gemological Institute (WGI) to Tokenize $3B in Diamonds, Gemstones on Hedera Network

9 January 2025, London UK – Vaultik, the cutting-edge luxury fintech platform, has announced a landmark partnership with the World Gemological Institute (WGI), the UK’s largest and most trusted gemstone certification lab. Together, they will tokenize $3 billion worth of diamonds, gemstones, watches, and jewelry on the Hedera network. This partnership addresses some of the most pressing challenges in the luxury market, including fraud, inefficiency, and a lack of transparency. It offers a unique opportunity to redefine how luxury goods are bought, sold, verified, and protected in the digital age.

“We’re thrilled to partner with Vaultik and Hedera to transform the way gemstones and luxury goods are authenticated,” said Noam Lenzini, Co-Founder and CEO of WGI. “In today’s world, the authenticity of our products must be indisputable. Tokenising our certificates ensures that buyers and sellers can rely on a secure, verifiable system for confirming the value, authenticity and ownership of precious assets. This represents a significant step towards establishing greater trust and security in the industry.”

Customers and businesses will now have an immutable digital certificate, providing a secure way to track the provenance, grading, authenticity, and ownership of gemstones, watches, jewelry, and other valuables.

Additionally, an insurance feature enabled via global broker Acrisure brings substantial additional value to the proposition, empowering authenticators to provide a higher standard of service while opening up new revenue opportunities.

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Hedera is a high-performance, secure, and sustainable public, permissioned DLT network and through collaboration with The HBAR Foundation, new layers of transparency and security are now enabled across the luxury asset market as a result of this watershed tokenization effort.

For additional security, each Token ID will also be laser-printed onto assets enabling cross-referencing with its corresponding digital certificate – and it’s all invisible to the naked eye.

Similarly, every certified item will be sealed with an NFC chip, which must remain intact throughout the supply chain until it is accessed by the owner. If the seal is broken at any point, it will automatically invalidate the certificate, offering consumers and businesses an extra layer of protection against fraud.

Upon receipt, the customer can scan the chip via their smartphone to access the digital certificate.

“The collaboration between Vaultik, the World Gemological Institute, Acrisure, and Hedera marks a new era for diamond and gemstone certification,” said Pietro Novelli, Co-Founder and CEO of Vaultik. “Traditional paper-based certificates or emailed PDFs are prone to tampering and inefficiencies. By harnessing blockchain technology, we’re providing a far more secure, cost-effective solution that ensures authenticity, reduces fraud, and enhances consumer confidence. In addition, the ability to purchase insurance directly via the certificates offers consumers immediate protection for their goods, while enabling authenticators such as gemologists, jewelers, and luxury goods dealers to offer a new, valuable service.”

Vaultik is currently expanding this model beyond gemstones and jewelry, to include categories like luxury handbags, watches, and even rare collectibles, setting the stage for wider industry transformation.

About Vaultik

Vaultik is a leading luxury fintech platform dedicated to bringing transparency, security, and efficiency to the luxury goods market. Through its consumer-friendly mobile application and robust SaaS platform, Vaultik enables consumers and businesses to tokenize high-value assets such as diamonds, gemstones, watches, and jewelry, offering a secure and verifiable way to track ownership, authenticity, warranty and more. Learn more at www.vaultik.com.

About World Gemological Institute (WGI)

World Gemological Institute (WGI) is dedicated to providing the highest level of service and expertise to its clients, ensuring the integrity of the diamond, gemstone identification and jewelry appraisals. With its commitment to gemological education, research, and certification, WGI is an invaluable resource for anyone interested in the world of gemstones industry.

About The HBAR Foundation

The HBAR Foundation cultivates vibrant economies and ecosystems on the Hedera network by providing financial, community, and marketing support to people and projects attracting millions of users and billions of dollars to the ecosystem. Check out our website to learn more or apply for a grant.