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De Beers Opening Blockchain to Industry

Jun 2, 2019 7:56 AM   By Rapaport News
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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 to raise awareness for the requirements of traceability, authenticity and provenance of diamonds,” Tracr CEO Jim Duffy said Friday. “Creating a community portal for the industry to interact and learn about Tracr is an important step to ensure that the Tracr platform is established with the entire industry in mind, whilst enhancing consumer trust.”

De Beers launched its Tracr blockchain pilot in January 2018 with the help of industry participants including Alrosa, Chow Tai Fook, Venus Jewel and Signet Jewelers. The platform tracks diamonds from the mining stage to finished jewelry using a tamper-proof record of each stone’s route through the supply chain.

As more companies join the Tracr program, the community will become a portal for communication, collaboration and education on diamond provenance, authenticity and traceability, De Beers explained.

Image: A Forevermark diamond engagement ring. (De Beers)
Tags: Alrosa, Blockchain, Chow Tai Fook, De Beers, Jim Duffy, Rapaport News, Signet Jewelers, Tracr, Tracr Beta Platform, Tracr Community, Venus Jewels
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