De Beers has launched its long-awaited blockchain-powered Tracr platform to track and manage diamond production.
Global diamond mining firm De Beers has launched a proprietary blockchain-powered platform to manage its diamond production and distribution.The firm has long been at work on a blockchain system to trace, record and manage its diamond mining, production and distribution across the globe. The Tracr platform was first piloted and tested back in 2018, and the company has finally released the platform at scale to serve the wider diamond mining industry.De Beers has already incorporated the system into its global operations and estimates that 25 percent of its diamond production by value is registered on Tracr for 2022’s first three Sights. In the diamond industry, a Sight is a collective term for a sale event and a respective lot of diamonds for purchase.The platform will give diamond industry producers and retailer
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