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 toraise awareness for the requirements of traceability, authenticity andprovenance of diamonds," Tracr CEO Jim Duffy said Friday. "Creating a community portalfor the industry to interact and learn about Tracr is an important step toensure that the Tracr platform is established with the entire industry in mind,whilst enhancing consumer trust." De Beers launched its Tracr blockchain pilot in January2018 with the help of industry participants including Alrosa, Chow Tai Fook,Venus Jewel and Signet Jewelers. The platform tracks diamonds from the miningstage to finished jewelry using a tamper-proof record of each stone's routethrough the supply chain. As more companies join the Tracr program, the community willbecome a portal for communication, collaboration and education on diamondprovenance, authenticity and traceability, De Beers explained. Image: A Forevermark diamond engagement ring. (De Beers)