De Beers' Tracr Ltd. and Sarine Technologies Ltd. have teamed up to create an innovative traceability system that promises to track diamonds from their source all the way to the G7 markets. This new partnership could change the diamond industry forever, making transparency and traceability more attainable than ever!
Combining Blockchain and Precision Technology for Total Transparency
The Tracr-Sarine solution integrates Tracr’s blockchain diamond-tracking platform with Sarine’s Diamond Journey™ project to provide an end-to-end tracking solution through a specialized digital portal. This allows G7 governments and other countries to verify every diamond's journey—from the rough stone at its source to the polished gem.
Tracr, a blockchain platform for diamond registration, and Sarine, a leader in precision technology for the entire diamond pipeline, have come together to ensure every step is accurately documented. The data is then uploaded to the Tracr platform, which hosts a dedicated customs portal for G7 officials to use, ensuring that each diamond that enters is thoroughly verified.
Collaboration with a Purpose—Enhancing Trust Through Traceable Data
David Block, CEO of Sarine Technologies, highlighted that this partnership will significantly increase the number of traceable diamonds backed by verifiable data. “The complementary capabilities of Sarine and Tracr create a synergistic effect that naturally advances the diamond industry in enhancing traceability and transparency,” Block said.
A Key Player in the G7 Diamond Agreement
Wes Tucker, CEO of Tracr, added that this digital traceability solution will play a vital role within the inclusive framework of the G7 diamond agreement facilitated by the World Diamond Council. With this collaboration, we could see the beginning of a new era—one where ethical sourcing, traceability, and consumer confidence come to the forefront of the diamond industry.
Could this new partnership redefine the standards for ethical diamonds and build a future where every diamond’s story is transparent and trustworthy? Stay tuned to see how Tracr and Sarine are setting new benchmarks in the world of luxury!