Bitcoin, Crypto currency, Blockchain

Blood diamonds adé: diamond producers want to save supply chain Blockchain

a985e6309cfa1f84c2748f1220ab8cd6 - Blood diamonds adé: diamond producers want to save supply chain Blockchain

Alrosa, the second largest diamond producer in the world, a rise in the test phase for the Blockchain-Tracker “Tracr”. Thus, the Russian company wants to prove that the gems were produced stones under ethical conditions.

It is an unusual partnership among competitors. As Alrosa last Monday, the 29. October, announced that the company co-operates with the De Beers Group from Belgium, to the Tracking platform Tracr. Alrosa wants to give customers warranties on the Hand, that purchased gems are authentic and under fair conditions were produced.

Sergey Ivanov, CEO of Alrosa, said:

“Traceability is the key to the further development of our market. It helps to strengthen the confidence of consumers, and to close information gaps, so that the people materials, the product is without a doubt of ethical issues or non-disclosed Synthetic [which would decrease the purity and thus the value of a precious stone, Anm. d. Red.] can enjoy.“

Shoulder-to-shoulder between competitors

That Alrosa uses a platform of the competition, according to the information provided on the potential for the entire industry. Because the more diamond producers in value on ethical conditions of production of precious stones, the stronger the Image of the whole industry benefits. In this score, the Statement of the De-Beers-CEO, Bruce Cleaver suggests:

“We are pleased that Alrosa has joined the Tracr-a pilot project, since the joint efforts of the two world’s leading diamond producers, will enable it to track more diamonds […] on their way from the Mine to retail. A critical level of production on the platform will give consumers and the diamond industry significant benefits.“

Since Tracr is currently still in the test phase, Alrosa also the possibility that the exact configuration of the platform.

A classic Use Case for the Blockchain

The traceability of supply chains is one of the major fields of application for the Blockchain technology. This is especially true for industries that have a reputation for their products under questionable work conditions produce. This also includes the promotion of land resources such as diamonds.

Typically, the companies are taking advantage of the fact that data are stored on the Blockchain, are immutable. Information about the production conditions at all Ends of the supply chain are therefore tamper-proof and authentic.

A major Problem of the penny! “the Blockchain in Supply Chain Management” remains as before: The data may be stored in a tamper-proof on the Blockchain. If an entry has but also factual accuracy, you have to otherwise. There is always the danger of abuse of technology, since certain data prior to Upload to the Blockchain already distorted.

Tracr leaves a good impression. The sheer amount of data that will be incorporated into the Tracking of each precious stone provides quite a comprehensive picture of the production path.

You may be curious as to whether Tracr is only an image polishing, or the serious attempt to ensure fair working conditions in the diamond industry.

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