The world’s largest diamond jewelry retailer Signet Jewelers has joined blockchain project Tracr from the South African Corporation De Beers Group, specializing in the extraction and processing of diamonds.
Signet Jewelers, the world’s largest #diamond jewellery retailer, is joining our industry-wide Tracr #blockchain pilot https://t.co/XLFIrEIrdS pic.twitter.com/WagsszXCvo
— De Beers Group (@debeersgroup) May 24, 2018
Blockchain Tracr will allow participants to track the origin of diamonds in order to eliminate the possibility of interaction with the conflict diamonds that are illegally mined in war zones throughout the African continent.
Tracr allows direct buyers of jewelry to verify the origin of stones, which, according to representatives of De Beers, will only strengthen the consumer confidence in the industry.
“Responsible determination of the origin of diamonds is an integral part of the corporate code of honor Signet. Cooperation with Tracr will only strengthen this process”, — said the head of Signet Jewelers Virginia Droso, adding about the need for “digital transformation” in the industry.
Recall the launch of the pilot blockchain project, De Beers became known in January of this year.