Digital Marking of Jewelry: Leveling the Risks of Implementation

Ludmila N. Ivanova () and Olga V. Umgaeva ()
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Ludmila N. Ivanova: Financial Research Institute, Moscow, Russian Federation
Olga V. Umgaeva: Financial Research Institute, Moscow, Russian Federation

Finansovyj žhurnal — Financial Journal, 2024, issue 1, 125-135

Abstract: The possibility of leveling the risks of introducing digital labeling of jewelry is of significant interest at the current stage of functioning of the state integrated information system in the field of turnover of precious metals, gemstones and articles made of them (GIIS DMDK). In accordance with the current legislation, digital transformation is actually already registered at all enterprises in this field, starting from mining and refining and ending with the sale of jewelry. The accumulated experience and the scheme of implementing digital accounting should be considered when improving the system of turnover of precious stones and metals within the EAEU countries that have signed a cooperation agreement, therefore it is logical to analyze the problems in this area. From the authors’ point of view, the planned tasks of the next stages of implementation of the GIIS DMDK system require clarification, in particular, labeling and building new business models on its basis. The article offers an analysis and justification of various options for solving these problems of expediency of practical application, reducing the risks of rejection of labeling by participants in the precious metals and gemstones turnover and achieving the expected effect.

Keywords: digital marking; GIIS DMDK; digital code; jewelry; branding; testing; turnover of precious stones and metals (search for similar items in EconPapers)
JEL-codes: D51 G28 G32 L15 O29 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:240108:p:125-135

DOI: 10.31107/2075-1990-2024-1-125-135

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