Jim Duffy, CEO of Tracr, speaks on how they are using blockchain to provide full accountability for the diamond supply chain.
How Tracr uses Fourth Industrial Revolution technologies (Internet of Things, Artificial Intelligence, Blockchain, and Security & Privacy) to objectively and confidently trace diamonds at industry scale, and how their technologies can be used to ensure accountability in other materials.
The past decade has seen the rise of the ethical consumer, and now more than ever consumers expect sustainable sourcing to be verified and assured. Tracr has brought the opportunity of connectivity and digital transformation at the forefront of the industry’s agenda. Their purpose is to enhance trust within the diamond industry by assuring provenance, traceability and authenticity of natural diamonds.
Tracr is working collaboratively with the entire value chain (from large producers to artisanal & small scale miners, manufacturers, graders and retailers) to foster a culture of innovation, enhance business practices and ensure consumer trust.
Jim shares how Tracr objectively and confidently demonstrates provenance, traceability and authenticity through a consistent and reliable process that can observe every diamond at all stages of the value chain, and enables companies to substantiate their own environmental and social impact stories in a way that wasn’t previously possible.
As part of the collaborative effort to accelerate sustainable sourcing of raw materials, Tracr is also representing Anglo American as one of the 7 members of the World Economic Forum’s Mining and Metals Blockchain Consortium. Tracr continues to share valuable learnings on how their process and technology architecture can be easily adapted to other industry challenges.