De Beers, GIA enhance cooperation to strengthen consumer confidence in natural diamonds
The Gemological Institute of America (GIA) will join Tracr, the distributed diamond blockchain platform developed by De Beers Group.
Consumers buying a diamond traced from the source by Tracr and graded by the GIA will receive a GIA grading report with enhanced information about the provenance of their diamond.
As De Beers Group registers more diamonds on Tracr, which are then traced through the value chain, the cooperation between the GIA and Tracr represents a step-change in the diamond industry’s ability to provide provenance assurance at scale for consumers, the parties state.
The GIA’s participation on the Tracr platform builds on an agreement between De Beers and the GIA to deepen cooperation in support of consumer confidence in natural diamonds. As part of this effort, the GIA will explore how to incorporate additional information about the positive impact of natural diamonds with its natural diamond grading reports.
“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.
“We are delighted to see the GIA – the largest provider of diamond grading reports in the diamond industry – join Tracr and lead the way.
“We have always believed in the importance of having a single provenance solution for the diamond industry, and Tracr’s technological solution and ability to operate at scale are extremely important for meeting emerging needs in this area. We look forward to bringing more key industry players on board with Tracr in the near future,” comments De Beers Group acting executive VP of strategy and innovation Ryan Perry.
GIA senior VP and COO Pritesh Patel adds that ensuring consumer confidence by providing trusted, impartial information about their diamonds is at the core of the GIA’s consumer-protection mission.
“Working with De Beers to bring others in the industry to Tracr will expand the reach and positive impact of the platform,” he says.
Comments
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