De Beers has announced the success of the first “digital trail” from tracking diamonds from mine to retail: according to the diamond miner, its blockchain platform, called Tracr™, has successfully tracked “100 high-value diamonds […] marking the first time a diamond’s journey has been digitally tracked from mine to retail”.
According to De Beers, the rough diamonds were “moved from the mine to cutter and polisher, then through to a jeweller” through a secure digital trail. Tracr™ is expected to launch later in 2018, and “will provide consumers with confidence that registered diamonds are natural and conflict-free, improve visibility and trust within the industry, and enhance efficiencies across the diamond value chain”.
Tracr™ was worked on by De Beers and five more diamond manufacturers – Diacore, Diarough, KGK Group, Rosy Blue NV and Venus Jewel. According to Bruce Cleaver, CEO of De Beers Group, “the Tracr project team has demonstrated that it can successfully track a diamond through the value chain […] This is a significant breakthrough made achievable by the close engagement of the pilot participants who share our commitment to industry progress and innovation”
