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De Beers launches diamond blockchain pilot

The scheme aims to ensure all registered diamonds are conflict-free and natural, while enhancing efficiency across the sector

De Beers Group has launched a pilot that uses blockchain technology to provide a tamper-proof and permanent digital record for diamonds registered on the platform.

Following the success of an initial proof of concept trial, which resulted in a working prototype, a pilot is now underway involving a small number of participants. The pilot will assess how the platform can be integrated with existing systems and processes, in advance of a full launch later this year.

Once fully established the blockchain will operate as an open platform, on top of which a range of applications that benefit the industry can be built.

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Bruce Cleaver, De Beers CEO, said: “We are very excited about this initiative and the benefits it could deliver across the diamond value chain, from producers through to retailers and consumers.

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“We look forward to continuing to engage with industry stakeholders as we progress development of the platform over the coming months.”

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