De Beers Opening Blockchain to Industry

RAPAPORT… De Beers has launched an online resource for sharing information and tools that will help members of the trade join its blockchain program.


The Tracr Community will provide participants with educational materials and standards for moving their business onto the Tracr Beta Platform, which will open to the entire industry over the summer.


“As industry adoption of Tracr grows, we will continue to
raise awareness for the requirements of traceability, authenticity and
provenance of diamonds,” Tracr CEO Jim Duffy said Friday. “Creating a community portal
for the industry to interact and learn about Tracr is an important step to
ensure that the Tracr platform is established with the entire industry in mind,
whilst enhancing consumer trust.”


De Beers launched its Tracr blockchain pilot in January
2018 with the help of industry participants including Alrosa, Chow Tai Fook,
Venus Jewel and Signet Jewelers. The platform tracks diamonds from the mining
stage to finished jewelry using a tamper-proof record of each stone’s route
through the supply chain.


As more companies join the Tracr program, the community will
become a portal for communication, collaboration and education on diamond
provenance, authenticity and traceability, De Beers explained.



Image: A Forevermark diamond engagement ring. (De Beers)