De Beers announced the opening of its traceability platform, Tracr, to participants from the diamond industry. Joining forces with industry leaders, Brilliant Earth has become the latest addition to the platform, which aims to establish a secure and inclusive diamond provenance and traceability system. The news comes alongside the launch of the Origin suite of services from the De Beers Institute of Diamonds, offering enhanced traceability and storytelling features.
Brilliant Earth joins the Gemological Institute of America (GIA) and the Gemological Science International (GSI) as participants in the Tracr platform. The inclusion of more industry leaders demonstrates a growing momentum behind the initiative, driven by the need for a comprehensive and scaled traceability solution. Tracr, which initially focused on De Beers production, has now expanded its reach to the wider diamond industry. Businesses across the diamond value chain, meeting the minimum criteria, including membership in the Responsible Jewellery Council (RJC), are invited to apply for participation. Once approved, these businesses will have the ability to upload and access provenance and traceability information about their diamonds.
Building on the success of the Code of Origin pilot conducted throughout 2022, De Beers has expanded its traceability program by introducing the Origin suite of services from the De Beers Institute of Diamonds. This suite includes new Origin and Grading Reports, as well as a digital lookup feature that connects clients with the origin and impact of their diamonds. Furthermore, De Beers previewed the development of Origin Story, a forthcoming digital experience that will provide immersive storytelling for retailers, elevating the transaction into a memorable and personalised experience. The entire Origin suite of services will be powered by Tracr.
Al Cook, CEO, De Beers Group, said: “Following years of investment and digital innovation, De Beers is proud to open Tracr to applications from the diamond industry. 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.
“Tracr will also power the new Origin suite of services from De Beers Institute of Diamonds. 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.”
Tracr stands as the world’s first fully distributed diamond blockchain platform, operating from the source and on a large scale. The platform has already registered over one million rough diamonds at the source and 110,000 diamonds at the manufacturer level. Tracr’s success has been recognised by its inclusion in the Forbes Blockchain 50 list of the top blockchain innovations three times.