Tracr\u2122 and Sarine Technologies Limited plan to collaborate on a scalable, cost-effective solution for use in tracking diamonds from their source to the point of entry into G7 countries. The solution combines the complementary benefits of both the Tracr platform and Sarine\u2019s Diamond Journey\u2122 traceability solution. The Tracr-Sarine solution is designed to facilitate the source verification and traceability of diamonds upon entry to the G7 and other countries, utilising a dedicated digital portal.<\/p>\n
Tracr, as the world\u2019s first fully distributed diamond blockchain platform which enables registration of rough diamonds at source, and Sarine, as a worldwide leader in precision technologies spanning the entire diamond pipeline, will each apply their market-leading skills and capabilities to deliver a seamless digital ecosystem to enable tracking of diamonds throughout the value chain.<\/p>\n
The collaboration will utilise Sarine\u2019s ability to perform objective verification of a diamond\u2019s journey from rough to polished using verifiable data, which is uploaded onto the Tracr platform. The digital platform will then host a dedicated customs portal to be used by government officials from the G7 and other countries.<\/p>\n
Through the use of Sarine\u2019s and Tracr\u2019s existing, extensive networks \u2013 with over 100 million diamonds utilising Sarine\u2019s systems annually and more than 1.5 million rough diamonds currently registered on Tracr at source \u2013 the solution is expected to have minimal impact on the supply chain. Both Tracr and Sarine have a broad presence in the diamond industry, making this a solution that can be scaled quickly and effectively.<\/p>\n
Wes Tucker, Tracr CEO, said: \u201cDiamond provenance assurance is a rapidly growing priority that will affect all parts of the industry, especially with G7 nations set to implement new import restrictions. The collaboration between Tracr and Sarine will bring together the best of both of our propositions to deliver a highly effective, scalable and cost-effective digital diamond traceability solution which can play a key role within the inclusive framework of the G7 Diamond Protocol facilitated by the World Diamond Council.\u201d<\/p>\n
David Block, Sarine Technologies CEO, said: \u201cThe collaboration between Tracr and Sarine will enable the diamond value chain to quickly accelerate the volume of diamonds undergoing data-based verifiable traceability, which is the need of the hour. The synergy created by a solution that uses Sarine and Tracr\u2019s complementary capabilities was the natural next step for traceability and transparency in the diamond industry. We are excited to start this initiative with Tracr, which will bring together industry leading technologies and establish a new proposition for diamond traceability.\u201d<\/p>\n
Both parties will continue to engage with relevant industry bodies and stakeholders regarding the new collaborative proposal and the G7\u2019s approach to implementing import restrictions in support of the G7 Diamond Protocol.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tracr\u2122 and Sarine Technologies Limited plan to collaborate on a scalable, cost-effective solution for use in tracking diamonds from their source to the point of entry into G7 countries. The solution combines the complementary benefits of both the Tracr platform and Sarine\u2019s Diamond Journey\u2122 traceability solution. The Tracr-Sarine solution is designed to facilitate the source…<\/p>\n","protected":false},"author":1,"featured_media":23131,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-23121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n