Top Diamond Producer De Beers Deploys Blockchain-Based Platform at Scale

0 3

De Beers, one of the leading diamond-producing companies globally, recently announced the deployment of its blockchain-based diamond source platform at scale. The platform will “enable the provision of provenance information from source to Sightholder to store on a secure blockchain.”

Immutable Record of a Diamond’s Provenance

One of the world’s top diamond miners, De Beers, recently said it had deployed a blockchain-based diamond source platform at scale. The platform, which is known as Tracr, gives the so-called sightholders the ability “to provide an immutable record of a diamond’s provenance, and [empowers] jewellery retailers to have confidence in the origin of the diamonds they purchase.”

The launch of the platform at scale comes nearly four years after De Beers launched the R&D phase, a statement released by the company said. The launch also comes in a year when the company has already “registered one-quarter of its production by value on TracrTM in the first three sights of the year in preparation for this first scale release.”

In a statement, Bruce Cleaver, the CEO of De Beers Group, spoke of how the blockchain enhanced confidence in an industry that has been accused of not doing enough to stem the flow of illicit diamonds.

“TracrTM, which will enable the provision of provenance information from source to Sightholder to store on a secure blockchain, will underpin confidence in natural diamonds and represents the first step in a technological transformation that will enhance standards and raise expectations of what we are capable of providing to our end clients,” Cleaver said.

Building Stakeholder Confidence

For his part, Botswana’s minister of minerals and energy, Lefoko Moagi, said the introduction of the blockchain-based system is something that is pleasing to both his country, a holder of 15% of the diamond-producing company’s shareholding, and De Beers’ other shareholders. Moagi also reiterated the importance of building stakeholders’ confidence in the way De Beers sources its diamonds.

With concerns that illicitly acquired diamonds are helping to fuel conflicts, diamond-producing companies like De Beers have faced increasing pressure to ensure that such diamonds do not find their way into formal markets. In addition, as more end clients insist on knowing the source of the jewelery they buy, De Beers said this meant it had to make “a technological step-change to meet their expectations.”

What are your thoughts on this story? Tell us what you think in the comments section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 30,587.00 1.97%
ethereum
Ethereum (ETH) $ 2,102.70 3.25%
tether
Tether (USDT) $ 1.00 0.09%
usd-coin
USD Coin (USDC) $ 1.00 0.18%
binance-coin
BNB (BNB) $ 307.81 3.01%
xrp
XRP (XRP) $ 0.440993 2.92%
cardano
Cardano (ADA) $ 0.583238 3.49%
solana
Solana (SOL) $ 57.58 6.46%
binance-usd
Binance USD (BUSD) $ 1.00 0.24%
polkadot
Polkadot (DOT) $ 11.10 3.23%
dogecoin
Dogecoin (DOGE) $ 0.090823 2.02%
avalanche-2
Avalanche (AVAX) $ 34.87 5.81%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 30,577.00 1.92%
staked-ether
Lido Staked Ether (STETH) $ 2,067.46 3.21%
tron
TRON (TRX) $ 0.072717 4.52%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 3.12%
dai
Dai (DAI) $ 1.00 0.12%
litecoin
Litecoin (LTC) $ 73.84 8.61%
crypto-com-chain
Cronos (CRO) $ 0.203012 3.74%
matic-network
Polygon (MATIC) $ 0.733070 7.13%
near
NEAR Protocol (NEAR) $ 6.73 1.56%
leo-token
LEO Token (LEO) $ 4.94 0.50%
ftx-token
FTX Token (FTT) $ 32.14 0.51%
bitcoin-cash
Bitcoin Cash (BCH) $ 208.74 5.09%
chainlink
Chainlink (LINK) $ 7.78 3.49%
stellar
Stellar (XLM) $ 0.143099 4.05%
algorand
Algorand (ALGO) $ 0.499875 7.76%
cosmos
Cosmos Hub (ATOM) $ 11.69 4.51%
okb
OKB (OKB) $ 12.94 3.65%
monero
Monero (XMR) $ 175.27 7.09%
flow
Flow (FLOW) $ 3.04 4.86%
ethereum-classic
Ethereum Classic (ETC) $ 21.91 3.42%
apecoin
ApeCoin (APE) $ 9.00 9.61%
uniswap
Uniswap (UNI) $ 5.53 7.88%
elrond-erd-2
Elrond (EGLD) $ 100.65 6.40%
hedera-hashgraph
Hedera (HBAR) $ 0.109823 4.36%
vechain
VeChain (VET) $ 0.033120 5.11%
internet-computer
Internet Computer (ICP) $ 8.74 6.16%
theta-fuel
Theta Fuel (TFUEL) $ 0.071705 2.14%
magic-internet-money
Magic Internet Money (MIM) $ 0.995558 0.03%
decentraland
Decentraland (MANA) $ 1.23 1.83%
filecoin
Filecoin (FIL) $ 8.69 3.22%
the-sandbox
The Sandbox (SAND) $ 1.39 3.50%
axie-infinity
Axie Infinity (AXS) $ 21.93 10.10%
compound-ether
cETH (CETH) $ 42.10 3.53%
tezos
Tezos (XTZ) $ 1.88 4.70%
defichain
DeFiChain (DFI) $ 3.13 2.25%
chain-2
Chain (XCN) $ 0.092301 9.93%
frax
Frax (FRAX) $ 0.999654 0.21%
kucoin-shares
KuCoin Token (KCS) $ 15.02 8.02%
zcash
Zcash (ZEC) $ 115.39 11.27%
maker
Maker (MKR) $ 1,591.92 2.97%
theta-token
Theta Network (THETA) $ 1.42 3.71%
pancakeswap-token
PancakeSwap (CAKE) $ 4.75 4.70%
eos
EOS (EOS) $ 1.39 4.11%
aave
Aave (AAVE) $ 95.79 11.83%
the-graph
The Graph (GRT) $ 0.183299 3.12%
klay-token
Klaytn (KLAY) $ 0.440402 9.91%
terra-luna
Terra (LUNA) $ 0.000190 6.12%
true-usd
TrueUSD (TUSD) $ 1.00 0.04%
huobi-btc
Huobi BTC (HBTC) $ 30,567.00 1.79%
huobi-token
Huobi Token (HT) $ 7.08 1.01%
iota
IOTA (MIOTA) $ 0.395062 6.81%
bitcoin-sv
Bitcoin SV (BSV) $ 56.90 6.03%
compound-usd-coin
cUSDC (CUSDC) $ 0.022642 0.17%
bittorrent
BitTorrent (BTT) $ 0.000001 2.62%
thorchain
THORChain (RUNE) $ 3.47 7.68%
quant-network
Quant (QNT) $ 74.92 4.31%
terrausd
TerraUSD (UST) $ 0.088650 19.83%
stepn
STEPN (GMT) $ 1.62 12.71%
ecash
eCash (XEC) $ 0.000050 3.49%
paxos-standard
Pax Dollar (USDP) $ 1.00 0.10%
helium
Helium (HNT) $ 9.31 5.22%
fantom
Fantom (FTM) $ 0.367079 7.58%
radix
Radix (XRD) $ 0.088617 0.14%
gatechain-token
GateToken (GT) $ 5.75 4.84%
neutrino
Neutrino USD (USDN) $ 0.971861 1.93%
cdai
cDAI (CDAI) $ 0.022047 0.08%
bitdao
BitDAO (BIT) $ 0.849164 0.79%
arweave
Arweave (AR) $ 15.99 0.48%
nexo
NEXO (NEXO) $ 1.40 1.49%
neo
NEO (NEO) $ 11.10 6.10%
zilliqa
Zilliqa (ZIL) $ 0.053845 5.84%
convex-finance
Convex Finance (CVX) $ 12.50 10.93%
kusama
Kusama (KSM) $ 83.46 13.15%
waves
Waves (WAVES) $ 7.10 8.17%
enjincoin
Enjin Coin (ENJ) $ 0.749725 4.70%
amp-token
Amp (AMP) $ 0.014221 1.30%
gala
Gala (GALA) $ 0.090464 2.70%
dash
Dash (DASH) $ 61.25 4.20%
chiliz
Chiliz (CHZ) $ 0.121739 5.26%
havven
Synthetix Network Token (SNX) $ 2.91 6.30%
celo
Celo (CELO) $ 1.47 2.01%
loopring
Loopring (LRC) $ 0.508317 7.54%
basic-attention-token
Basic Attention Token (BAT) $ 0.419296 3.75%
maiar-dex
Maiar DEX (MEX) $ 0.000122 7.55%
osmosis
Osmosis (OSMO) $ 1.66 2.11%
blockstack
Stacks (STX) $ 0.581410 2.86%
harmony
Harmony (ONE) $ 0.050344 5.78%
pax-gold
PAX Gold (PAXG) $ 1,821.62 0.32%
gnosis
Gnosis (GNO) $ 231.79 3.00%
compound-usdt
cUSDT (CUSDT) $ 0.021768 0.00%
xdce-crowd-sale
XDC Network (XDC) $ 0.045912 0.61%
mina-protocol
Mina Protocol (MINA) $ 1.12 5.56%
nem
NEM (XEM) $ 0.061766 4.48%
kadena
Kadena (KDA) $ 2.98 0.03%
lido-dao
Lido DAO (LDO) $ 1.53 4.12%
curve-dao-token
Curve DAO Token (CRV) $ 1.42 2.76%
decred
Decred (DCR) $ 38.66 0.64%
fei-usd
Fei USD (FEI) $ 0.999398 0.33%
kava
Kava (KAVA) $ 2.68 11.46%
compound-governance-token
Compound (COMP) $ 74.99 9.08%
frax-share
Frax Share (FXS) $ 8.41 0.15%
nxm
Nexus Mutual (NXM) $ 71.30 3.00%
holotoken
Holo (HOT) $ 0.002716 2.58%
tether-gold
Tether Gold (XAUT) $ 1,860.76 0.21%
tokenize-xchange
Tokenize Xchange (TKX) $ 5.63 2.22%
qtum
Qtum (QTUM) $ 4.26 5.60%
ecomi
ECOMI (OMI) $ 0.001625 4.49%
iostoken
IOST (IOST) $ 0.018289 3.43%
bancor
Bancor Network Token (BNT) $ 1.47 3.43%
juno-network
JUNO (JUNO) $ 8.28 7.91%
oec-token
OKC Token (OKT) $ 25.69 13.67%
1inch
1inch (1INCH) $ 0.964930 3.54%
livepeer
Livepeer (LPT) $ 15.50 3.35%
serum
Serum (SRM) $ 1.27 3.24%
flex-coin
FLEX Coin (FLEX) $ 4.95 1.15%
moonbeam
Moonbeam (GLMR) $ 1.41 8.55%
evmos
Evmos (EVMOS) $ 1.80 0.83%
omisego
OMG Network (OMG) $ 2.61 5.31%
0x
0x (ZRX) $ 0.431298 5.72%
msol
Marinade staked SOL (MSOL) $ 60.09 6.08%
celsius-degree-token
Celsius Network (CEL) $ 0.856677 1.31%
xido-finance
Xido Finance (XIDO) $ 12.63 0.84%
yearn-finance
yearn.finance (YFI) $ 10,209.49 3.28%
bitcoin-gold
Bitcoin Gold (BTG) $ 20.30 3.09%
liquity-usd
Liquity USD (LUSD) $ 1.00 0.04%
rocket-pool
Rocket Pool (RPL) $ 21.30 5.37%
secret
Secret (SCRT) $ 2.01 5.98%
ankr
Ankr (ANKR) $ 0.041395 7.13%
link
LINK (LN) $ 55.47 3.40%
olympus
Olympus (OHM) $ 17.22 3.78%
audius
Audius (AUDIO) $ 0.481196 7.80%
ravencoin
Ravencoin (RVN) $ 0.031769 5.50%
husd
HUSD (HUSD) $ 1.00 0.02%
iotex
IoTeX (IOTX) $ 0.034226 12.94%
bitkub-coin
Bitkub Coin (KUB) $ 3.63 1.94%
skale
SKALE (SKL) $ 0.093011 9.65%
convex-crv
Convex CRV (CVXCRV) $ 1.38 1.50%
icon
ICON (ICX) $ 0.406965 5.46%
just
JUST (JST) $ 0.043261 3.12%
golem
Golem (GLM) $ 0.315674 22.11%
everdome
Everdome (DOME) $ 0.026109 2.82%
usdd
USDD (USDD) $ 1.00 0.43%
ethereum-name-service
Ethereum Name Service (ENS) $ 12.65 17.29%
swissborg
SwissBorg (CHSB) $ 0.318020 1.47%
oasis-network
Oasis Network (ROSE) $ 0.086132 11.39%
everscale
Everscale (EVER) $ 0.239438 0.22%
siacoin
Siacoin (SC) $ 0.005614 4.79%
dogelon-mars
Dogelon Mars (ELON) $ 0.000001 4.59%
titanswap
TitanSwap (TITAN) $ 2.85 1.91%
constellation-labs
Constellation (DAG) $ 0.110650 4.51%
synapse-2
Synapse (SYN) $ 1.49 0.60%
zencash
Horizen (ZEN) $ 22.55 8.38%
safemoon
SafeMoon [OLD] (SAFEMOON) $ 0.000000 3.31%
sushi
Sushi (SUSHI) $ 1.48 13.12%
songbird
Songbird (SGB) $ 0.034221 21.95%
mimatic
MAI (MIMATIC) $ 0.998301 0.04%
safemoon-2
SafeMoon (SFM) $ 0.000461 5.87%
wax
WAX (WAXP) $ 0.130934 3.27%
pocket-network
Pocket Network (POKT) $ 0.261158 24.86%
trust-wallet-token
Trust Wallet Token (TWT) $ 0.739979 8.40%
ontology
Ontology (ONT) $ 0.290495 4.33%
render-token
Render Token (RNDR) $ 0.993454 2.47%
ethos
Voyager Token (VGX) $ 0.863480 2.91%
astar
Astar (ASTR) $ 0.072017 5.40%
swipe
SXP (SXP) $ 0.494542 6.95%
gemini-dollar
Gemini Dollar (GUSD) $ 1.00 0.30%
plex
PLEX (PLEX) $ 0.914865 0.87%
smooth-love-potion
Smooth Love Potion (SLP) $ 0.005815 8.44%
escoin-token
Escoin Token (ELG) $ 3.41 3.30%
tenset
Tenset (10SET) $ 2.57 9.28%
woo-network
WOO Network (WOO) $ 0.212855 7.99%
uma
UMA (UMA) $ 3.34 9.07%
tether-eurt
Euro Tether (EURT) $ 1.05 0.79%
immutable-x
Immutable X (IMX) $ 0.939963 5.38%
kyber-network-crystal
Kyber Network Crystal (KNC) $ 2.16 37.98%
nucypher
NuCypher (NU) $ 0.180652 3.80%
playdapp
PlayDapp (PLA) $ 0.591715 3.31%
velas
Velas (VLX) $ 0.092467 16.87%
polymath
Polymath (POLY) $ 0.236806 6.73%
mxc
MXC (MXC) $ 0.086889 12.93%
apenft
APENFT (NFT) $ 0.000001 3.88%
hive
Hive (HIVE) $ 0.559397 3.32%
illuvium
Illuvium (ILV) $ 312.79 3.79%
digibyte
DigiByte (DGB) $ 0.013126 7.72%
rally-2
Rally (RLY) $ 0.072157 2.08%
casper-network
Casper Network (CSPR) $ 0.041569 2.87%
dydx
dYdX (DYDX) $ 2.08 8.82%
acala
Acala (ACA) $ 0.481422 2.18%