De Beers has signed up the Gemological Institute of America (GIA) to its Tracr platform, enabling the laboratory to issue enhanced grading reports for polished diamonds documented as part of the blockchain service.
The new GIA grading reports will provide consumers with additional information about the provenance of their diamonds as well immutable proof of origin, De Beers said last week. The collaboration is part of an agreement between the miner and the lab to boost consumer confidence in natural diamonds.
“As the issue of diamond provenance rapidly grows in importance for stakeholders across the diamond value chain, having immutable data about a diamond’s journey from the source on grading reports is a major step forward and will underpin consumer confidence,” said Ryan Perry, acting executive vice president of strategy and innovation for De Beers.
The GIA will also explore ways to incorporate additional information about the positive impact of natural diamonds in its grading reports, De Beers noted.
Last year, the GIA launched a separate program for diamond provenance called Source Verification Service. On that platform, the lab works with vetted manufacturers to include confirmed source-origin information on grading certificates issued for polished stones those cutters produce. The GIA and De Beers have previously partnered on other projects to advance the industry and strengthen consumer trust, including the identification of lab-grown diamonds and diamond treatments, De Beers explained.
“Ensuring consumer confidence by providing trusted, impartial information about their diamonds is at the core of GIA’s consumer-protection mission,” said Pritesh Patel, GIA senior vice president and chief operating officer. “Working with De Beers to bring others in the industry to Tracr will expand the reach and positive impact of the platform.”
Image: Rough diamonds. (Ben Perry/Armoury Films/De Beers)