TBZ Eyes Blockchain for Jewellery Validation
Brian Njuguna Nov 16, 2019 02:00
TBZ (Tribhovandas Bhimji Zaveri), a famed jewellery brand in India, is eyeing technological innovations, such as blockchain, virtual reality, and artificial intelligence (AI), to authenticate its jewellery.
TBZ (Tribhovandas Bhimji Zaveri), a famed jewellery brand in India, is eyeing technological innovations, such as blockchain, virtual reality, and artificial intelligence (AI), to authenticate its jewellery.
TBZ is 150 years old and is popular for its striking jewellery. For it to continuously have a competitive edge over its rivals, it is contemplating on using blockchain to validate its jewellery.
The CTO at TBZ, Pooran Jaiswal, asserted: “The jewellery industry in India is hugely unorganized. As we are a brand that people trust, we want to reinforce this trust by assuring our customers that we source all our raw materials from genuine sources. Blockchain will help us to identify where our raw material, say diamonds, are sourced from. We also outsource manufacturing to a number of vendors. Blockchain will help us in reconciliation issues, and in ensuring quality across the supply chain.”
Moreover, AI will be instrumental in enabling the company to better comprehend the needs, tastes, and preferences of customers.
Jaiswal added: “Each jewellery piece has close to 30-40 attributes. Each store has over 2,000 designs of jewellery. Each day, our jewellery designers create different types of designs across our stores. We would like to use AI to look at the design of each jewellery, and help in automatically capturing all the attributes. This will help us not only in track what is available in stock, but will also help us in saving manpower and in estimating cost and pricing.”
The jewellery industry is intensely competitive because customers are subjected to many choices. TBZ seeks to remain at the apex of this sector by using blockchain and AI for optimal customer satisfaction and loyalty.
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