De Beers has expanded its Tracr origin project beyond the miner’s own stones by opening it up to the diamond sector at large.
US jewelry retailer Brilliant Earth has also joined the blockchain platform, following in the footsteps of the Gemological Institute of America (GIA) and Gemological Science International (GSI), De Beers announced Thursday on the eve of the JCK Las Vegas show. In addition, the miner has launched a new service offering origin documentation for diamonds.
“With more than half of De Beers’ production by value being registered on the platform, we are already seeing the power of Tracr to enable manufacturers and retailers to trade with confidence, and our clients to purchase with pride,” said De Beers CEO Al Cook.
De Beers launched Tracr in 2018, starting with the company’s own production with the intention of turning it into a platform for the industry. Using blockchain technology, it tracks diamonds through the pipeline in a tamper-proof manner. It is now home to more than a million rough stones and 110,000 diamonds at the manufacturing level.
The announcement comes almost two years after the introduction of the company’s Code of Origin program, which enables businesses to sell stones as De Beers diamonds and tap into its branding.
Following the success of Code of Origin, De Beers has “evolved and expanded” it with the launch of a new suite of services called Origin. Powered by Tracr, it features new origin and grading reports as well as a digital lookup offering information on a diamond’s origin and impact. The miner has also previewed Origin Story, an in-development immersive digital experience that retailers can offer consumers.
“This brings to life the origin story of a diamond and celebrates what makes each one unique, precious and personal to the individual who wears it, connecting more people to the remarkable stories of natural diamonds,” Cook commented.
Image: Rough diamonds on display at De Beers’ offices in Calgary, Canada. (Ben Perry/Armoury Films/De Beers)