The World Economic Forum awards blockchain startup Everledger, selecting it as one the world’s most promising Technology Pioneers in 2018, poised to have a significant impact on business and society.
Past recipients include Airbnb, Google, Kickstarter, Mozilla, Spotify, TransferWise, Twitter and Wikimedia. Selected among hundreds of candidates, Head of Technology Pioneers at the World Economic Forum, Fulvia Montresor stated:
“Companies were selected for their potential to transform society and industry and shape the Fourth Industrial Revolution.”
Founded in London in 2015 by Leanne Kemp, Everledger has developed a provenance traceability solution built on the IBM Hyperledger Fabric platform, designed to build trust and drive sustainability in global markets, industry and production. CEO Kemp states:
“We are deeply concerned for the care of communities and the impact that supply has on the global commons.”
Everledger is currently working with insurance companies and governing bodies globally, as the provenance element of their technology proves to resolve a number of issues around fraud, counterfeiting and money laundering.
In 2017, the global market in counterfeit goods was said to be valued at over US $460 billion. In the European Union alone, the luxury fashion industry loses around €26.3 billion euros (about US $27.7 billion) of revenue annually from counterfeit goods.
Focusing on tracking the provenance of high-value assets on a global digital ledger, aims to provide stakeholders across supply chains with an immutable history of an asset’s authenticity, existence and ownership.
Having received extensive media coverage, Everledger is best known for tracking diamonds and currently has the provenance of over 2 million cryptographically-certified on the blockchain with its Diamond Time-Lapse Protocol.
The company has since applied its blockchain solution into the world of coloured gemstones, jewellery, fine wine and art, as it continues to expand within the luxury market place.
Selected among hundreds of candidates as one of the World Economic Forum’s Technology Pioneers, Everledger is one of two UK companies with a female CEO, out of a total of five in this year’s Technology Pioneers list. CEO Kemp said:
“We are thrilled to be acknowledged as a technology pioneer by the World Economic Forum, for our work in harnessing the best of emerging and exponential technology for provenance tracking.”
Highly respected within the blockchain industry, Everledger‘s Chief Operating Officer, Chris Taylor was one of four experts called to appear as witness before the British Parliament’s Treasury Select Committee‘s blockchain hearing, as reported by BCTech Report on 2nd May 2018.