The two largest diamond producing groups on the planet are now jointly testing a blockchain platform to track assets.
Alrosa, the second-largest diamond producer after manufacturing giant De Beers, announced Monday it was joining the Tracr pilot program, which De Beers is trialing to determine how it may track the precious stones from their initial production to their ultimate retail location.
This system hopes to ensure that customers and trade participants can easily track a diamond's provenance and confirm its authenticity, according to a press release.