Tracr and Israel-based diamond tech company Sarine Technologies have announced a strategic partnership aimed at advancing diamond traceability within G7 countries. This collaboration seeks to create a scalable and cost-effective solution for monitoring diamonds from their origin to their entry into G7 nations, Diamond World reports.
The joint effort combines the strengths of the Tracr platform, known as the world’s first fully distributed diamond blockchain, which allows the registration of rough diamonds at their source, and Sarine Technologies, which specializes in precision technologies across the entire diamond supply chain. Together, they aim to establish a seamless digital ecosystem for tracking diamonds throughout the value chain.
Wes Tucker, Tracr CEO, said: “Diamond provenance assurance is a rapidly growing priority that will affect all parts of the industry, especially with G7 nations set to implement new import restrictions. The collaboration between Tracr and Sarine will bring together the best of both of our propositions to deliver a highly effective, scalable and cost-effective digital diamond traceability solution which can play a key role within the inclusive framework of the G7 Diamond Protocol facilitated by the World Diamond Council.”
David Block, Sarine Technologies CEO, said: “The collaboration between Tracr and Sarine will enable the diamond value chain to quickly accelerate the volume of diamonds undergoing data-based verifiable traceability, which is the need of the hour. The synergy created by a solution that uses Sarine and Tracr’s complementary capabilities was the natural next step for traceability and transparency in the diamond industry. We are excited to start this initiative with Tracr, which will bring together industry leading technologies and establish a new proposition for diamond traceability.”
