In May 2018, De Beers unveiled its TRACR blockchain diamond tracking solution developed in conjunction with BCG Digital Ventures, part of Boston Consulting Group (BCG). A former BCG employee Max Rady has filed a legal complaint in the New York courts against both firms alleging patent infringement, misappropriation of trade secrets and other claims. The litigation relates to the technology used in TRACR.
In August 2010, Rady started a joint Masters/PhD research degree at Kings College London. The topic included optical properties for assets that could create an identification signature, including for gemstones. The data would be recorded on a blockchain. A key challenge with blockchain traceability is how to link a physical object to its digital twin, so any tools that enable this connection are important. Rady subsequently filed a patent for his invention.
While still working on his PhD, he joined BCG in June 2016 but never worked directly on the TRACR project. He says BCG were aware of his research and the fact that he was contemplating filing a patent.
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