Alrosa Pilots De Beers’ Tracr Platform
Tracr, the end-to-end diamond industry blockchain traceability platform being developed by De Beers in collaboration with industry stakeholders, said that Alrosa has joined the platform’s pilot programme, bringing industry leaders from the diamond manufacturing and retail sectors in creating the blockchain platform by the industry, for the industry.
Following the announcement of the Tracr pilot earlier this year, Alrosa’s involvement brings the world’s two largest diamond producers together to provide enhanced assurance for consumers and trade participants about the provenance and authenticity of their diamonds, and in creating a digital foundation for new services that can only be developed on an endto-end platform.
Bruce Cleaver, CEO, De Beers, said: “To provide true traceability, diamonds must be tracked from their point of production. We are delighted that Alrosa has joined the Tracr pilot, as the collective efforts of the world’s two leading diamond producers will enable more of the world’s diamonds to be tracked on their journey from mine to retail. Having a critical level of production on the platform will deliver significant benefits for consumers and diamond industry participants.”
Sergey Ivanov, CEO, Alrosa said: “Traceability is the key to further development of our market. It helps to ensure consumer confidence and fill information gaps, enabling people to enjoy the product without any doubts about ethical issues or undisclosed synthetics. We believe tracing requires industry cooperation and complementation for the sake of a common goal.”