Gemstones Supply Chain Management throughBlockchain Mechanism

Talha Ahsan ()
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Talha Ahsan: University of Peshawar, 25120, Pakistan

International Journal of Innovations in Science & Technology, 2024, vol. 6, issue 2, 833-848

Abstract: The provenance of gemstones significantly enhances their value. However, both conventional supply chain management and digital systems are susceptible to counterfeiting, loss, and theft.Blockchain has emerged as a suitable technology to store tamper-proof records of gemstones allowing the storage of immutable journey of gemstones. This research article shows how the blockchain-based Ethereum network can be used for managing the supply chain of gemstones. Mining details, cutter information, digital certificates, proof of ownership, quality, and sales history ofgemstonescan be arranged in a two-tieredblockchain network to allow multiple organizations to securely share specific information within the organization and publicly. We cover the majorsupply chain exchanges for gemstones and end users with Ethereum smart contracts. We present that our suggested decentralized architecture-based solution can overcome many limitations in terms of immutability, traceability, verifiability, and security which exist in both conventional and digitalsupply chain management systems. Test scripts or smart contracts are publicly deployed on the Ethereum network.

Keywords: Gemstones; Blockchain-Based Gems Authentication; Blockchain; Decentralized Gemstones Supply Chain Management (search for similar items in EconPapers)
Date: 2024
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