INSUBCONTINENT EXCLUSIVE:
Leading jewelry companies that have struggled with proving the authenticity of their goods have launched an online distributed ledger based
on blockchainto improve global provenance in the diamond and jewelry supply chain.De Beers announced it has succesfully tracked from mine to
jeweler 100 "high-value" diamonds on its new blockchain-based electronic ledger called Tracr now being piloted; De Beers hopes to go live
with Tracr later this year.In December, De Beers, which controls about 35% of the world's diamond production, announced its intention to
launch what it called an industry-wide blockchain network to track diamonds
Along with verifying a diamond's authenticity, the De Beers blockchain network will be able to prove the gems are not mined in war-torn
areas where the sale of the gems could be used to finance violence.
