World's largest supplier of diamonds to invest in blockchain-based platform

posted 6 days ago
De Beers, the world’s largest supplier of diamonds, is investing in a blockchain-based platform that will enable greater tracking of its stones.

The platform will trace the diamonds’ route through the value chain, from mine to consumer, Bruce Cleaver, chief executive of the Anglo American-owned company, said.

“Consumers should be able to know there is an accurate register of a diamond’s journey that provides assurance of its provenance and authenticity,” Mr Cleaver said.

The platform will create a more secure register of each transaction involving the diamond, De Beers said. It be an open platform for those in the diamond industry that will allow for further apps to be built on top of it, the company said.
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