This significant step will enable De Beers to rigorously clean its supply chain of conflict minerals and boost its quality assurance in asset traceability.
In the first efforts of its kind, De Beers, the world’s biggest diamond producer by value of its gems, stated it has tracked 100 high-value diamonds from miner to retailer using blockchain technology.
The effort is a first significant step to clear impostors and conflict minerals in its supply chain.
“An immutable and secure digital trail was created for a selection of rough diamonds mined by De Beers as they moved from the mine to cutter and polisher, then through to a jeweler,” said De Beers in a statement.
Five diamond manufacturers, including Diarough, Rosy Blue NV, Diacore and Venus Jewel, collaborated with De Beer to create its Tracr platform. Towards the fourth quarter of this year, De Beer said, it will launch and make available its Tracr platform to the rest of the industry.
The pilot projected was announced in January 2018 and initially focused on larger stones.
“The Tracr project team has demonstrated that it can successfully track a diamond through the value chain, providing asset-traceability assurance in a way that was not possible before,” said Bruce Cleaver, De Beers’ CEO.