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Digital Marking of Jewelry: Leveling the Risks of Implementation

Author

Listed:
  • Ludmila N. Ivanova

    (Financial Research Institute, Moscow, Russian Federation)

  • Olga V. Umgaeva

    (Financial Research Institute, Moscow, Russian Federation)

Abstract

The possibility of leveling the risks of introducing digital labeling of jewelry is of significant interest at the current stage of functioning of the state integrated information system in the field of turnover of precious metals, gemstones and articles made of them (GIIS DMDK). In accordance with the current legislation, digital transformation is actually already registered at all enterprises in this field, starting from mining and refining and ending with the sale of jewelry. The accumulated experience and the scheme of implementing digital accounting should be considered when improving the system of turnover of precious stones and metals within the EAEU countries that have signed a cooperation agreement, therefore it is logical to analyze the problems in this area. From the authors’ point of view, the planned tasks of the next stages of implementation of the GIIS DMDK system require clarification, in particular, labeling and building new business models on its basis. The article offers an analysis and justification of various options for solving these problems of expediency of practical application, reducing the risks of rejection of labeling by participants in the precious metals and gemstones turnover and achieving the expected effect.

Suggested Citation

  • Ludmila N. Ivanova & Olga V. Umgaeva, 2024. "Digital Marking of Jewelry: Leveling the Risks of Implementation," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 125-135, February.
    • Handle: RePEc:fru:finjrn:240108:p:125-135
    DOI: 10.31107/2075-1990-2024-1-125-135
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    References listed on IDEAS

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    1. Ludmila N. Ivanova & Olga V. Umgaeva, 2022. "Trends in the Development of State Integrated Information Systems in the Field of Circulation of Precious Metals and Stones and Their Products," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 122-133, August.
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      More about this item

      Keywords

      digital marking; GIIS DMDK; digital code; jewelry; branding; testing; turnover of precious stones and metals;
      All these keywords.

      JEL classification:

      • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
      • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
      • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
      • O29 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Other
      • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality

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