Diamond giant, De Beers, has opened up its blockchain traceability platform, Tracr, to the broader industry, providing sector-wide provenance as the industry fights to distinguish ethically sourced stones from the Russian production still flowing into the global market despite sanctions.

Tracr, a blockchain-powered tech platform providing for the traceability of De Beers’ diamonds from mine to shelf, was initially launched in 2018, before being expanded to scale last May, as Western nations imposed sanctions and other restrictions on Russia for its invasion of Ukraine.

Russia is the world’s largest producer of diamonds by value, while De Beers, powered by Botswana, is second. By May last year, De Beers had registered one-quarter of its production by value on Tracr and briefing stakeholders here on Friday, the group’s CEO, Al Cook, said the figure had risen to half.

He said Tracr’s expansion to other industry players was critical for the future of the industry.

“All industry participants that meet minimum requirements including Responsible Jewellery Council membership can join industry leaders like the Gemological Institute of America and Gemological Science International on the platform,” he said.

“Knowing where a diamond is coming from is becoming essential information.

“Everywhere I go from day to day, this is what people talk to me about and after years and tens of millions of dollars of investment in Tracr as well as significant technological breakthroughs, we are now pleased to see real momentum building around an inclusive traceability solution for the industry.”

According to De Beers, interested industry participants can now apply to join Tracr and once an assessment is done, and their onboarding process is complete, they will be able to use the platform to upload and view provenance and traceability information about their diamonds. Cook was speaking at the opening of De Beers’ booth at the ongoing JCK Show, the diamond industry’s largest trade show, held annually in Las Vegas, and this year, attracting more than 30,000 delegates from 130 countries.

The booth opening was attended by Minerals and Energy minister, Lefoko Moagi, Permanent Secretary to the President Emma Peloetletse and other senior officials from government, De Beers and the industry.

“Partnership is a story we are proud to tell, but it is not our story alone,” said Cook.

“It’s a story we share with our partners. “Thank you for your partnership and showing the world what we can do, what the positive impact that diamonds can have for the people and the planet.”

De Beers Group Executive Head of Human Resources, Malebogo Mpugwa said the impact of diamonds went far beyond simple mining and selling.

“I’m fascinated when I think about the value that diamonds create, whether it’s a young girl in a remote village in Botswana who wakes up in the early hours of the morning to get an education in school because of diamonds.

“Whether it’s about our operators who wake up to go to the mines with dedication, leaving their families, to work to extract these diamonds.

“You want to think about a polisher who brings out the brilliance in these amazing diamonds, doing that with dedication.

“Or that retailer who is there trying to convince you to buy this natural diamond, talking about the product and its source, hoping to make the purchase,” she said.

Meanwhile, diamond social impact NGO, Diamonds Do Good, named De Beers the winner of the GOOD Award 2023 for its commitment to creating a positive impact.

The diamond group received the accolade on Thursday in recognition of its efforts in conservation, health, renewable energy, education and various other socio-economic initiatives in producer nations.

Knowing where a diamond is coming from is becoming essential

information