As announced on 29 October, De Beers, ALROSA joined its blockchain-a programme aimed at improving the logistics of mining. The Russian company is the world leader in the production of these precious stones.
Anglo-American De Beers, the world’s largest producer of diamonds by value, has begun to develop blockchain-based platform Tracr last year and officially launched a test program in January.
In may, the world’s largest retailer of jewelry Signet Jewelers became the first dealer who joined the pilot project.
The head of De Beers, Bruce cleaver, commented on the participation of “ALROSA”:
The collective efforts of the two largest producers of diamonds will allow you to track the path of a greater number of stones from mines to stores.
For his part, the head of “ALROSA” Sergei Ivanov said:
Traceability is a key factor in the development of our market. Accurate logistics will give people the opportunity to enjoy the product without any doubts about the ethics of production methods and concerns about possible presence of diamonds from synthetic impurities.
Tracr gives each diamond a unique certificate that contains the description of characteristics such as weight, color and clarity. The system used a photo of the stones in the process of processing and output.
Although in 2003, the UN adopted the certification scheme of the Kimberley process designed to prevent the entry of the so-called blood diamonds (mined illegally and proceeds from sales go to the purchase of weapons for rebel groups in West Africa and their allies, fighting against legitimate governments), experts believe that the smuggling continues.
De Beers and ALROSA hope that the development of such systems as Tracr, will help to solve this problem.