The announcement was made on the opening day of the JCK Las Vegas trade show. De Beers launched Tracr in 2018 as a blockchain-backed platform for diamond provenance. In 2023, the company made the platform available to the broader industry.
More than 5 million rough diamonds have been registered on Tracr, and De Beers CEO Al Cook said partnering with an organisation such as the GIA was an important next step for the platform.
“At De Beers, we have been providing provenance data on diamonds through Tracr for several years, and we believe that delivering provenance should become an industry standard,” Cook said.
“Following our promise to open Tracr up to broad ownership, we are proud to be partnering with GIA as Tracr evolves into an independent, industry-wide platform.”
GIA president and CEO Pritesh Patel said that the platform provided a ‘tremendous opportunity’ to improve industry-wide provenance standards.
“Our collaboration with Tracr over the past several years reinforced our belief that combining source-based blockchain provenance with GIA’s independent grading and identification expertise can help unlock a new level of transparency for the diamond industry,” he said.
“We are proud to deepen our commitment through this investment and help shape the next evolution of transparency, traceability, and trust across our industry.”
In 2023, the GIA began including traceability information from Tracr on eligible grading reports.
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