The invention discloses a jewelry silver alloy having blue gloss and corrosion resistance and a technology of the silver alloy. The alloy comprises compositions including, by weight, 0.1%-0.2% of P, 1.0%-1.2% of Mg, 4.0%-5.0% of In, 3.2%-4.8% of Co, 0.4%-0.6% of Mo, 0.1%-0.2% of Th, 1.5%-1.8% of Ge and the balance silver. A new type capable of having the blue gloss is provided for colorful silveron the market at present by means of the material, and in addition, the material further has the excellent color-changing-resistant characteristic. The production cost is reduced, and the related production technology and equipment meets are greatly simplified. It can be predicted that material implementation and industrialization can obtain plenteous economic gains and social benefits.