De Beers is Tracking Your Diamonds with the Blockchain

De Beers has Developed a Diamond Tracing Blockchain

Tracr is designed to trace diamonds as they are mined, cut, polished, and sold from distributors through to individual owners using 3-D scans.

Previously, De Beers has been less than forthcoming with information on where an individual diamond originated. Traditionally De Beers would mix many diamonds from different origins together as they sold them. Their Tracr program will allow you to see where your diamond originated.

Source: De Beer

Tracr is Not Completely Opaque

Tracr does give retailers and wholesalers the ability to hide the names of some of the middlemen along the supply chain. This is said to prevent retailers from trying to cut out some of the middlemen.

Tracr is Not Just De Beers

De Beers is not keeping Tracr just to themselves. They are allowing other miners and people along the diamond supply chain to add diamonds to the network. Gemological Institute of America (GIA) has joined Tracr in 2023. Signet Jewlers which owns the brands Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct, and Blue Nile was one of the first companies to join the Tracr program when it was just a pilot program.

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A lot of people that have gotten an engagement ring since 2022 have a diamond that is traced on the blockchain on their ring finger.