Mining giant De Beers Group can now track all diamonds it produces from mine to consumer with the introduction of Tracr™ – the world’s first blockchain-backed diamond source platform.

De Beers is deploying the Tracr™ blockchain platform, which can provide provenance assurance for 100 per cent of the miner’s diamonds “from source to Sightholder to store.” De Beers mines diamonds in Botswana, Canada, Namibia and South Africa.

Tracr™ is the only distributed diamond blockchain that starts at the source and gives tamper-proof source assurance at scale, enabling Sightholders to provide an immutable record of a diamond’s provenance, and empowering jewellery retailers to have confidence in the origin of the diamonds they purchase.

“With more end-clients wanting to know the source of the products they buy, the deep meaning associated with a diamond purchase requires a technological step-change to meet their expectations,” De Beers said.

According to De Beers, the Tracr™ platform combines distributed ledger technology with advanced data security and privacy, ensuring that participants control the use of and access to their own data. The decentralised nature of the platform meanwhile ensures its speed and scalability, with the ability to register one million diamonds a week onto the platform. 

De Beers, which launched Tracr™ in 2018, said it had already registered one quarter of its production by value on Tracr™ in the first three Sights of the year to prepare for the scale release.