Setting the standard for diamond traceability

Tracr is the first collaborative, industry-focused digital platform
that securely tracks a diamond across the full value chain.

Setting the standard for diamond traceability

Tracr is the first collaborative, industry-focused digital platform that securely tracks a diamond across the full value chain.

Our story so far

Tracr was conceived by De Beers in 2017 as a comprehensive mine-to-customer traceability solution for the entire diamond industry.

The pilot project, involving a small group of industry participants, launched in January 2018.

De Beers is a major player in various parts of the diamond value chain, providing roughly one-third of the global supply of diamonds by value, and it has long-standing relationships with all relevant industry players.

We are innovating to set the standard for blockchain traceability solutions and are guided by key principles

Consumer Assurance
Transparency
Openness
Collaboration
Trade Confidence
Security and Privacy of Data

Where we are heading

Tracr is designed to be an inclusive and open platform for the diamond industry, which will be reflected in its governance structure.  

We are engaging with key industry stakeholders, including other diamond producers, industry trade associations, graders, governments, logistics providers, retailers and banks, to develop the best governance setup for the platform.

Key challenges faced by supply chains today

Transparency

Low visibility and control of origin drives uncertainty about ethics & authenticity of products

Privacy

Sensitive data like client names and prices need to remain confidential

Traceability

Lack of reliable, permanent records of assets, as they move along the value chain, undermines customer confidence in asset provenance

Compliance

High costs of compliance and data management, due to complex, manual, and inconsistent processes

Trust

Limited trust among transacting parties, due to the lack of transparency and immutable traceability

How blockchain can help

Auditability

Tamper-proof records

Security

Smart contracts

Democratic collaboration

Data authenticity

Why Tracr is Unique

Privacy Controls

Privacy controls restrict access to sensitive data, while maintaining traceability.

Identity Management

Personal and organisational identities and KYC (Know Your Customer) are digitally managed to ensure accountability.

Industry Blockchain

Tracr is a collaborative industry wide solution.

Encryption of Data

Uploaded data is protected by asymmetric cryptography.

Data Fingerprint

Data science and physical ID techniques allow for tracking of diamonds from rough to polished with confidence.

Why Tracr is Unique

Privacy Controls

Privacy controls restrict access to sensitive data, all while maintaining traceability.

Identity Management

Personal and organisational identities and KYC (Know Your Customer) are intelligently managed digitally, maximising trust and accountability.

Industry Blockchain

Tracr utilises a tamper-proof digital diamond register for the industry through blockchain technology.

ENCRYPTION OF DATA

Primary and secondary data are protected through asymmetric cryptography.

Digital Fingerprint

By utilising data science and physical identification techniques, tracking of diamonds from rough to polish can be done with confidence.

How it works

Who is involved

How it works

Who is involved

Media Recognition

Our announcements

Register your interest

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We are hiring!

We're looking for talented people to join our team in London.

Please click on the link below to see our current opportunities or get in touch with us at jobs@project-tracr.com.

View Our Career Opportunities

For Industry Participants

What's in it for me?
Diamond Producers

Industry trust: underpins confidence in diamonds and diamond industry overall

Efficiency: improves efficiency, for example, in compliance and KYC

Midstream

Financing: facilitates faster access and potentially improved rates due to reduced perceptions of risk

Efficiency:  decreases reliance on email and paperwork by automating many processes

Downstream / Retail

Trust: elevates consumer confidence and trust in diamonds

Story-telling: allows retailers to provide consumers with more information about their diamond and its journey

Industry Bodies

Industry progress: strengthens industry initiatives that support trust in diamonds, and the value chain through which they travel

Efficiency: • supports automation of KYC and industry checks; creates an immutable record for registrations and certifications

Finance Providers

Fraud detection: allows for automated detection of fraud (e.g. round-tripping and double financing)

Reduced risk & costs: reinforces KYC checks for industry participants; digitises documentation

How can I join?

Tracr is being designed as an inclusive and open platform for the diamond industry. Industry players will need to go through a KYC process to prove their identity in order to participate. This is no different from current KYC processes. The platform will be open for such applications later this year.

How will Tracr integrate with my existing systems and processes?

Tracr is compatible with existing ERP (record-keeping) and stock tracing systems like AX and Fantasy, among others. Although we will continue to integrate with a broader spectrum of systems, we have devised some simple file upload-based methods that should make it easy for anyone in the industry to participate. We are also working on an integration layer allowing for more direct and real-time data updates.

Will De Beers be able to control the data I add to the platform?

We have built cutting-edge privacy technology that allows users to own their data and share its selectively, while still ensuring immutable traceability. Neither De Beers nor other platform participants will be able to access data unless the data owner chooses to share it.

How does De Beers stand to benefit from it?

In addition to benefits that Tracr provides for all diamond producers, as described above, the platform also creates opportunities for entities to build applications on top of it to capture value. De Beers plans to create and build some of these applications. But this opportunity is not restricted to De Beers, and Tracr is fully committed to helping any other application developer innovate on its platform.

Is this blockchain associated with Bitcoin?

No. Bitcoin and other cryptocurrencies is just one of the uses of the blockchain technology, which has multiple applications

This diamond platform builds on top of the fundamental features of the blockchain technology to create a tamper-proof and permanent record of a diamond as it travels through the value chain. This platform then unlocks the ability to create trust between untrusting parties and allows then to transact freely with confidence.

How much does it cost?

There is no fee per se to participate in the platform. That said, each participant will be responsible for integration into the system. By design, all blockchains (including Ethereum, which we currently use) require minimal transaction fees for the network to function.

Who will own Tracr?

Tracr is designed to be an inclusive and open platform for the diamond industry, which will be reflected in its governance structure.  We are currently engaging with key industry stakeholders, including other diamond producers, industry trade associations, graders, governments, logistics providers, retailers and banks, to agree on the best governance setup for the platform.

How will my data be used on the platform?

Uploaded data will help create an immutable and tamper-proof trail of a diamond’s journey along the value chain providing benefits for all participants, but at no point in time will it be visible to anyone outside the organisation which owns it (unless the data owner chooses to share it).

How is it different from other diamond initiatives?

Tracr is the first blockchain use case that can track a diamond as it changes hands multiple times across the diamond value chain. It uses cutting-edge technology that allows users to own their data and use privacy controls to selectively share it with others.

How does Tracr match a physical stone to its digital certificate?

This is another key feature of Tracr that no one else has built. 

In addition to a simple barcode-based unique ID, Tracr incorporates complex data science models to create a unique signature for rough and polished diamonds alike. Once this signature is created, a diamond can forever be verified against it to prevent fraud of any kind.