0
📰 News
42 views

Alrosa Joins De Beers To Test Diamond Tracking Blockchain Platform

  • Antony Koroid
    📰 News

    The two largest diamond mining groups in the world have announced the launch of joint testing of the Blockchain platform for asset tracking.


Alrosa Joins De Beers To Test Diamond Tracking Blockchain Platform
Contents

The two largest diamond mining groups in the world have announced the launch of joint testing of the Blockchain platform for asset tracking.

Alrosa, the second largest diamond producer in the world, will join the industry leader giant De Beers in the pilot testing of the Tracr program designed to track the entire path of precious stones from their initial production to final retail consumer.

Proof of origin

According to the Russian company’s press release, the system will provide proof of origin and tracking of diamonds and help customers and traders to confirm their authenticity.

In particular, Tracr is focused on providing consumers with confidence that registered diamonds are natural and conflict-free.

👉MUST READ

Head of Russia’s Central Bank: Russia Adopts ‘Sober Attitude’ to Crypto

Head of Russia’s Central Bank: Russia Adopts ‘Sober Attitude’ to Crypto

“Traceability is the key to the further market development,” said CEO of Alrosa Sergey Ivanov.

It helps to ensure consumer confidence and fill information gaps, allowing people to enjoy the product without any doubt about any ethical issues or artificial origin of stones.

“Alrosa is pleased to participate in Tracr testing, along with other market solutions. We believe that monitoring requires sectoral cooperation and complementarity in order to achieve a common goal.”

Diamond Blockchain

In its turn, De Beers CEO Bruce Cleaver pointed out that the volume of tracked diamonds is beneficial for the industry.

“The platform will provide significant benefits to consumers and the diamond industry’s participants,” he said.

👉MUST READ

Russian Giant Nornickel to Launch Stablecoin, Precious Metal-Pegged

Russian Giant Nornickel to Launch Stablecoin, Precious Metal-Pegged

De Beers announced the trial use of Blockchain technology to track diamonds last year when Cleaver marked that the technology would provide “a highly secure digital register” to store information about the stones.

Cover image via u.today
Join our Telegram channel to get news even faster!

About the author

The journalist with 10 years of experience in print and digital media. Last 2 years deeply immersed into the cryptocurrency & blockchain technology area.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings