ALROSA implements the Tracr platform in its work. It was created by the De Beers Group together with interested parties in the diamond industry. The main goal is to track the supply chain. ALROSA and the strongest participants in the diamond industry will participate in the development of a new blockchain platform.
Despite the fact that the pilot project, two most influential players in the diamond extraction managed to unite to add digital technologies to produce and provide all users and market participants with the most transparent supply conditions, as well as to ensure that the final consumer diamonds are authentic.
According to Bruce Cleaver, CEO, De Beers Group: “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.”
The main target of the Tracr is to give every consumer an assurance in the quality of the product being purchased, as well as to show that all diamonds are entered and do not have a dark past. For another thing, Tracr will maintain the rules already in place for diamond mining. Such as the Kimberley Process Certification Scheme, World Diamond Council System of Warranties and Responsible Jewellery Council Code of Practices.