Today, ALROSA which is De Beers biggest competitor
joined the
Tracr blockchain pilot. De Beers is developing the platform in collaboration with industry stakeholders and hence is “creating the blockchain platform by the industry, for the industry.”
According to
Bain & Co, in 2016 the rough diamond market share of the two producers was 70%. Russia’s ALROSA is the world’s largest diamond producer by volume, and De Beers is the largest by diamond value.
Sergey Ivanov, Alrosa CEO, said: “Traceability is the key to further development of our market. It helps to ensure consumer confidence and fill information gaps, enabling people to enjoy the product without any doubts about ethical issues or undisclosed synthetics. Alrosa is glad to participate in testing Tracr, along with other market solutions.”
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