Digital Transformation Consulting

The case study focuses on how Tracr, developed by the De Beers Group with support from Accenture, addresses the niche issue of establishing transparent and tamper-proof provenance tracking for diamonds, from mine to market. Traditional authentication methods like certificates of origin and grading reports do not provide a complete history of a diamond's journey, creating challenges for consumers and stakeholders seeking ethically sourced and authentic stones. The platform's solution involved creating a blockchain-based traceability system that assigns each diamond a unique digital identity containing key characteristics such as carat, clarity, color, cut, and provenance data. This digital record is securely stored, leveraging IoT and AI to monitor the movement of diamonds along the supply chain, from rough stones to polished gems.

Quantifiable results include the registration of over two-thirds of De Beers’ global production by value on the platform, representing a significant industry adoption. The Tracr platform currently hosts more than 2.8 million rough diamonds with a combined value of US$3.4 billion. It incorporates rigorous checks like "Tracr Rough Check" to reduce substitution risks, and has expanded its network beyond De Beers to onboard additional miners, reinforcing its industry-wide relevance. The platform's integration with Sarine Technologies' Diamond Journey™ further enhances reliability and scalability, offering a comprehensive, cost-effective, and automated traceability solution. Overall, Tracr’s implementation has created a new benchmark for ethical sourcing, providing increased consumer confidence and setting industry standards for transparency and integrity in diamond provenance.