De Beers is building the first end-to-end diamond industry blockchain platform that will securely track a diamond from the mine to the end consumer. The platform, known as ‘Tracr’, is based on Etherium blockchain technology and is being built in collaboration with the industry players. ‘Tracr’ is being designed to benefit all diamond industry stakeholders – from large producers to small businesses – including the Indian diamond sector, which processes the majority of the world’s diamonds. Among Indian names figuring in the pilot project participants are Venus Jewells and Rosy Blue (New York). De Beers has already sent messages to other diamond mines, small or big, to join the blockchain which will be an industry initiative. Emphasis has also been placed on making sure that the large proportion of the Indian diamond industry that operates within the informal sector is integrated with ‘Tracr’.

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