WeChat Adds Diamond Purchase Traceability Feature

Dec 26, 2019Updated May 28, 20251 min read

Tencent partnered with Russian diamond miner ALROSA Group to offer an in-app blockchain-based feature that provides traceability for diamond purchases made through WeChat.

WeChat adds a new capability for affluent users to access transparent information about the «origin, characteristics and ownership history» of diamonds purchased through the platform.

In addition to ALROSA – which accounts for nearly one-third of global rough diamond production – UK-based tech firm Everledger was also part of the partnership, likely to power the blockchain technology the new feature leverages.

Chinese diamond demand grew five percent to reach approximately $10 billion, according to De Beers’ Diamond Insight Report 2019. As a comparison, the U.S. market is currently at $36 billion.

Tags

About the author

Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

Asia's retail intelligence, in your inbox