How RURI is Powered by Public Blockchain

Ensuring the transparency of jewelry throughout the value chain has realized to be extremely difficult due to the long, fragmented, and complex nature of supply chains. RURI not only builds the online shop that connects simple supply chains without middlemen directly to consumers, but also improves supply chain transparency using advanced technologies.

RURI's supply chain and online shop implement the advanced traceability technology developed by Tracified Technologies, Asia’s fast evolving blockchain technology company. A public blockchain is a decentralized, immutable, and tamper-evident ledger. RURI’s traceability system combining public blockchain with IoT technologies and crypto-economic models harvests diverse information from the real supply chain at each step where gems are mined, processed, certified, traded, appraised, and delivered to customers, and data is time-stamped, geo-coded, encrypted, entered to the blockchain, verified, attributed ownership, and stored as an immutable record in a decentralized manner. This information will be made available to consumers in an auditable form for each gemstone in RURI's web shop.

The blockchain based traceability system also enables RURI to create the digital twin of  the gem in high-resolution images with multi-perspective and social value information in virtual space and tokenize it to Cross Reality Token (+RT). +RT is a kind of NFT with proven authenticity of content, invented by Tracified technologies. RURI brings more reality, goodness, trust and beauty, to people with a pair of the gem and +RT, and keep the value of the gem on the secondary market higher. Buyers of the gem can register their ownership of their gems in public blockchain and +RT certifies it.

Tracified Technologies Pte. Ltd. is a fast-evolving traceability solutions provider in Asia and is currently working with international organizations on a number of forward-thinking projects around the world. Tracified's advancing solutions will continue to demonstrate at RURI platform and improve our business.