Country / Region: United Kingdom
Tracr is enhancing trust within the diamond industry by assuring provenance, traceability and authenticity of natural diamonds from their country of origin through the entire value chain to the end consumer. It uses emerging technologies – internet of things, artificial intelligence, blockchain and high grade security & privacy – to create digital assets that represent each physical diamond registered on the Platform.
Tracr is an inclusive platform, with current participants ranging from large producers, artisanal and small-scale miners and manufacturers to grading laboratories and retailers. With many thousands of diamonds being registered every month, Tracr has successfully proven the ability to trace diamonds at industry scale along the entire value chain.
What the judges have to say:
Tracr, set up by the De Beers Group, has introduced a platform that will provide all parties on the diamond value chain with the provenance, traceability and authenticity of a diamond, through a blockchain ledger system. Importantly, it is a non-commercial initiative with a utility pricing model.
A pilot phase with other producers and leading global retailers successfully proved its ability to trace diamonds at industrial scale along the entire value chain.
Apart from reassurance, the system will add value to the diamond business on many levels as well as providing a rich story about each individual stone to add value to the retailer and consumer.
Tracr was set up by experts in platform development and adapted to the multiple needs of the industry adding a level of assurance and traceability hitherto unavailable.