PR95722

HOD-HASHARON, Israel and GENEVA, April 28, 2022/PRNewswire=KYODO JBN/--

Sarine Technologies Ltd (U77:SI; SARN.TA), a worldwide leader in the

development, manufacturing, marketing and sale of precision technology products

for the evaluation, planning, processing, measurement, grading and trading of

diamonds, is pleased to announce that Aura Blockchain Consortium ("AURA"),

founded by LVMH, Prada Group, Cartier, part of Richemont, and OTB Group, has

chosen to partner with Sarine regarding Sarine's Diamond JourneyTM traceability

solution and data for the AURA platform. Through this one-of-a-kind partnership

for diamond traceability, the multi-stakeholder Consortium is laying out the

very first foundations for best-in-class product traceability standards from

raw material to finished product applied in the luxury sector.

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Sarine has been selected by AURA to provide full diamond traceability across

the entire supply chain, from extraction to polishing and setting. Sarine's

traceability solution is based on data independently and automatically

generated by its IOT enabled systems being used throughout the pipeline by many

of the industry's leading producers and midstream polishers, without resorting

to non-verifiable declaratory inputs.

Supporting global partnerships for sustainable development (SDG 17), AURA is a

not-for-profit organization born with the vision that collaboration driven by

common objectives for a greater good can coexist within a competitive

environment. Providing tools to enhance transparency and trust, the Consortium

ambitions to develop sustainable blockchain solutions and technologies that are

bespoke to each sector. By linking the physical flows to their transactional

and informative data gathered in the blockchain, the Consortium strives to

achieve the highest levels of traceability while making their access easily

available to all actors irrespective of their size and location. Founded by

luxury brands and relying on the crucial prerequisite of traceability, the

Consortium supports and enables innovation, authenticity, and responsible

practices throughout the value chain within the luxury sector.

Daniela Ott, Secretary General of AURA said: "There is perfect synergy between

AURA and Sarine. By partnering with Sarine in relation to Sarine's

comprehensive traceability technology, we are establishing a one-of-a-kind

technological solution with significant added value to both luxury brands and

their customers. This new solution will provide complete transparency on

product sourcing history and verifiable authenticity documentation, which is

key to strengthening consumer trust in brands and fostering a long-term

relationship, which is critical in today's rapidly evolving retail landscape.

We anticipate additional leading luxury brands will soon be joining our unique

consortium."

David Block, CEO of Sarine, commented:" It is an honor to have been selected to

partner with the esteemed Aura Blockchain Consortium of leading luxury brands.

This new endeavor will enable global luxury brands to benefit from our uniquely

comprehensive and factual traceability solution in order to increase supply

chain transparency, thereby increasing consumer confidence. Our solution

enables the jewelry houses the ability to implement a traceability solution

based on blockchain technology that is easily scalable and with low overheads

to all their suppliers in the upstream and midstream diamond value chain."

Source:Sarine Technologies Ltd.

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