Tracr and Sarine Join Forces on G7 Traceability Solution
October 10, 23
(IDEX Online) - Tracr and Sarine are to collaborate on a traceability solution for diamonds entering the G7 nations.
Tracr is the De Beers-owned company based in London that has developed what it describes as "the world's first fully distributed diamond blockchain platform".
It is working with Sarine, the Israel-based diamond tech company behind the widely-used Diamond Journey traceability solution.
Tracr will register the rough diamonds and Sarine will verify them on their journey from rough to polished.
The digital platform they're creating together will host a dedicated customs portal to be used by government officials from the G7 and other countries, they say in a statement.
Wes Tucker, Tracr CEO, said: "Diamond provenance assurance is a rapidly growing priority that will affect all parts of the industry, especially with G7 nations set to implement new import restrictions."
David Block, Sarine Technologies CEO, said: "The synergy created by a solution that uses Sarine and Tracr's complementary capabilities was the natural next step for traceability and transparency in the diamond industry."
Sarine and Tracr both say they'll carry on engaging with industry bodies and stakeholders over how G7 nations can implement import restrictions.
Pic courtesy Tracr