De Beers marks first digital tracking of a diamond’s journey from mine to jeweller
JOHANNESBURG (miningweekly.com) – Diamond conglomerate De Beers Group has successfully tracked 100 high-value diamonds along the value chain during the pilot phase of its new industry blockchain platform.
A selection of rough diamonds, mined by De Beers, were tracked through an immutable and secure digital trail that was created by the platform called Tracr as they moved from the mine to cutter and polisher, before heading to a jeweller.
The pilot was announced in January, following months of research and industry consultation, with De Beers working with BCG Digital Ventures to build the platform and the underlying technology.
Five diamond manufacturers, namely Diacore, Diarough, KGK Group, Rosy Blue NV and Venus Jewel, had also worked with De Beers on Tracr’s development.
Tracr, which is expected to be launched later this year, provides asset-traceability assurance in a way that was not possible before, said De Beers CEO Bruce Cleaver.
“When fully operational, Tracr 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 diamond value chain,” he said.
Tracr automatically creates a unique global identity for each diamond, storing information such as carat, colour and clarity through integration with the participants’ existing record-keeping systems.
“We look forward to sharing the platform with more partners in the coming months and capturing their insights before ultimately making this technology available to the broader industry,” said Cleaver.
Comments
Research Reports
Projects
Latest News
Showroom
Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.
VISIT SHOWROOM
Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
