There has been rising concern among jewelers regarding the complications in the prevalent hallmarking system, which mandates that the unique ID (HUID) of each jewelry product be verified and uploaded in the official system. This move has caused a lot of trouble for jewelers, as manually uploading the HUID number of every single piece of jewelry requires a lot of resources and effort. Unfortunately, not many hallmarking centres are properly equipped to deal with high volumes of jewelry verification requests, and it is causing further inefficiencies and delays in inventory management.
Moreover, the process of authenticating jewelry consumes a lot of time and requires technical knowledge. The process of hallmarking each product is too prolonged and causes businesses setbacks of around 5-7 days, which negatively impacts sales. Also, the new system has been criticized for being a tracking mechanism.
Considering the dissatisfaction and unrest that the recently introduced system has caused among jewelers, there has been growing demand for a more practical system to take care of jewelry hallmarking procedures.
Current role of blockchain in the jewelry industry
In recent years, gemstone blockchain solutions have gained popularity among jewelry manufacturers, suppliers and customers. Such solutions help jewelers issue digital certificates for their customers directly at the time of purchase, which is a more secure and feasible alternative to paper certificates. They also help in tracking valuable products along the supply chain in real-time, which boosts cost and time efficiency of jewelry businesses. The data security that blockchain technology provides has made it an obvious choice for jewelers looking to improve their product management efforts.
Integrating blockchain technology into hallmarking systems
Similar to jewelry businesses, official systems that are currently in place for jewelry hallmarking can fix their existing flaws by adopting blockchain technology. This works best through a safe and simple-to-use platform like what Authlink offers. The Authlink platform consists of a range of digitally-driven solutions that can help officials address jewelers’ demands more effectively than any other currently available solutions.
Enables digitization and automation of repetitive, manual tasks
Authlink simplifies the switch from monotonous manual data entry systems to a digital and automated platform. Each jewelry product is assigned an intelligent digital identity which makes it easy to verify and manage.
Each jewelry package is also provided with a smart label that can be scanned to access the product ID. This rules out the need to waste resources on verifying the IDs of each piece of jewelry; everything gets digitally automated.
Brings time and cost effectiveness in verifying jewelry authenticity
Traditional methods of jewelry authenticity take an unnecessary amount of time, and it causes major dents in the jeweler’s wallet. However, the Authlink platform offers a simple yet effective space to get jewelry authenticated in a matter of minutes. Processes that usually take hours and hours can be completed far more productively, and this eventually boosts overall business efficiency as well.
Protects all valuable product data in a digitally-fortified space
Businesses deserve to protect their data privacy, and prevent confident information from getting shared with outsiders or external parties. This also increases the risk of their valuable product data getting manipulated, copied or tampered with. In the Authlink platform, all uploaded data is given the highest level of privacy and security, which official systems can benefit from.
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