Russian diamond miner Alrosa has joined the Tracr diamond industry blockchain traceability platform that fellow miner De Beers is developing.
Alrosa’s involvement brings the world’s two largest diamond producers together in the pilot programme that aims to provide enhanced assurance for consumers and trade participants about the authenticity of their diamonds.
“To provide true traceability, diamonds must be tracked from their point of production. We are delighted that Alrosa has joined the Tracr pilot, as the collective efforts of the world’s two leading diamond producers will enable more of the world’s diamonds to be tracked on their journey from mine to retail. Having a critical level of production on the platform will deliver significant benefits for consumers and diamond industry participants,” commented De Beers Group CEO Bruce Cleaver.
Alrosa CEO Sergey Ivanov added that he believed tracing required industry cooperation for the sake of a common goal.
Tracr is focused on providing consumers with confidence that registered diamonds are natural and conflict-free, improving visibility and trust within the industry and enhancing efficiencies across the diamond value chain. In addition, Tracr will work to complement and support the diamond industry’s existing initiatives and regulations to ensure consumer confidence in diamonds, including the Kimberley Process Certification Scheme, World Diamond Council System of Warranties and Responsible Jewellery Council Code of Practices.