Global diamond mining firm De Beers is deploying its Tracr blockchain platform to manage its diamond production and distribution.
<h2><strong>Tracing Diamonds from Its Origins to Retail</strong></h2>
De Beers, the world’s largest diamond company, <a href="https://www.debeersgroup.com/media/company-news/2022/de-beers-group-introduces-worlds-first-blockchain-backed-diamond-source-platform-at-scale" target="_blank" rel="noopener">announced</a> that it will use its Tracr blockchain to keep track of each stone’s origin to allow buyers to trace a diamond’s origins from the mine to the retailer.

Tracr is said to be the only blockchain platform that can keep track of millions of diamonds at once and claims to be the only one with tamper-proof records of diamond origins on a large scale.

The introduction of Tracr at scale delivers immutable information on the source of De Beers’ diamonds across the value chain and makes assurance for its 100% authenticity.
<h2><strong>Combining Blockchain Technology</strong></h2>
Tracr platform combines distributed ledger technology with data security and privacy to ensure that users maintain control of their own information. Each user of Tracr has their own customized version of the platform, which means that only they can access their information, and only with their permission.

The platform integrates cutting-edge technologies, including blockchain, artificial intelligence, the Internet of Things, and advanced security and privacy mechanisms, to track a diamond’s journey through the value chain.

De Beers Deploying Tracr Blockchain Platform for Its Diamond Production

Global diamond mining firm De Beers is deploying its Tracr blockchain platform to manage its diamond production and distribution.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

De Beers Deploying Tracr Blockchain Platform for Its Diamond Production

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