Natural diamond firms turn to blockchain traceability amid lab-grown competition
Summary
The natural diamond industry is using blockchain traceability to respond to competition from lab-grown diamonds and falling prices. GIA plans to acquire a 30% stake in Tracr, a De Beers-backed blockchain platform that tracks diamond origin and processing history. The platform records each diamond’s journey from origin through cutting and polishing, giving buyers more confidence in provenance. The industry expects traceability to support natural diamond sales, though it may also increase costs.
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E-Commerce & Retail
AskAI Classifications
Labels
Supply Chain Software
Blockchain Software
Traceability Software
Linked Companies
De Beers Group
$1B+