Mining Global/ Dale Benton/ May 10, 2018

100 diamonds have been successfully traced along the value chain through innovative “game-changing” blockchain technology.

De Beers Group has announced this week that it had successfully traced 100 high value diamonds from mine to retail in an industry first.

The company has been piloting its Tracr platform, which is a blockchain solution that 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 entire diamond value chain.

As diamonds travel along the value chain, they are tagged with a unique Global Diamond ID on Tracr. Tracr then stores individual diamond attributes including carat, colour and clarity which is compiled together through the integration of participants existing record keeping systems.

This creates an “immutable digital trail for each physical diamond, assuring its provenance and traceability from rough to polished.”

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