Blockchains are forever. That’s why two of the world’s diamond mining giants have joined forces on a pilot blockchain-based supply chain platform called Tracr.

Tracr is being developed by the South African miner DeBeers. Now Russia’s Alrosa has signed on. Alrosa CEO Sergey Ivanov told Mining Weekly that tracing diamonds requires industry cooperation for the sake of a common goal, namely consumer trust.

Like a similar program created by IBM, the idea is to create a digital certificate for each diamond that records key attributes and transactions, which is then stored on a blockchain. Read more here.

ThirtyK Staff
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