NFT Certificates and Proof of Delivery for Fine Jewelry and Gemstones

【Author】 Alnuaimi, Noura; Almemari, Alanoud; Madine, Mohammad; Salah, Khaled; Al Breiki, Hamda; Jayaraman, Raja

【Source】IEEE ACCESS

【影响因子】3.476

【Abstract】Fine jewelry is a unique class of ornaments composed of precious metals and gemstones. Premium-grade metals such as gold, platinum, and sliver, and gemstones such as pearls, diamonds, rubies, and emeralds are used use to make fine jewelry. Paper-based certificates are typically issued by retailers and producers for fine jewelry and gemstones as a proof of origin, sale, ownership, history, and quality. However, paper certificates are subject to counterfeiting, loss, or theft. In this paper, we show how non-fungible tokens (NFTs) and Ethereum blockchain can be used for digital certification, proof of ownership, sale history, and quality, as well as proof of delivery for fine jewelry and gemstones. We present the proposed system design and architecture with sequence diagrams covering key interactions for jewelry production, purchase, and sale, along with algorithms related to NFT minting, auctioning, ownership management, and physical delivery. We demonstrate that our proposed NFT and blockchain-based solution can provide superior alternative in terms of verifiability, traceability, immutability, and security when compared with paper-based certification and traditional auctioning, delivery and ownership management. We make our developed smart contracts and testing scripts publicly available on GitHub.

【Keywords】Diamonds; Supply chains; Smart contracts; Metals; Security; Nonfungible tokens; Blockchains; System analysis and design; Certification; Production planning; Software development and management; Blockchain; NFTs; Ethereum; fine jewelry; gemstone; proof of delivery; digital certificates

【发表时间】2022

【收录时间】2022-10-17

【文献类型】实验仿真

【主题类别】

区块链应用-虚拟经济-NFT