This content was first published on IGR – Italian Gemological Review no. 23 in 2026. The information provided here is therefore current as of the original publication date.
On May 29, 2026, the GIA (Gemological Institute of America) announced the acquisition of a 30% stake in Tracr, the company behind the pioneering blockchain platform for diamond provenance traceability.
When Tracr was launched in 2018 by De Beers, its objective was to compete with Everledger — active since 2015 — in the race to digitize the precious commodities market. The project aimed to move beyond De Beers’ near-monopolistic model of past decades, when campaigns such as “A diamond is forever” — effective as long as the group maintained semi-monopoly power — had become something of a paradox: by promoting the entire category, De Beers was effectively advertising for its competitors as well.
Blockchain represented the evolution of that strategy: from the romantic marketing of the “eternal diamond” to the ethics of traceability. By controlling the supply chain, from rough to consumer, De Beers sought to establish a new competitive advantage: the ethical value of the certified diamond, no longer based solely on emotional appeal.
The immutable recording of transactions on a blockchain makes it possible to exclude conflict diamonds from the market and to certify origin in a transparent and verifiable way. This was a challenge that required critical mass: as early as 2018, Alrosa joined the initiative, contributing to a system that represented approximately 50% of the global market. However, subsequent international sanctions on Russia have progressively marginalized Alrosa’s role within the project.
GIA is no newcomer to these issues. Building on its experience with colored stones, the institute has long been working on diamond origin determination, aware that traceability has become a strategic lever in a market increasingly oriented toward responsible supply chains. As is well known, traditional gemological methodologies do not allow for precise determination of a diamond’s geographic origin; even an authoritative laboratory such as GIA must integrate its data with external registries based on cryptographic systems.
As early as April 2023, GIA had initiated a collaboration with Tracr, incorporating — for the first time — provenance information recorded on the platform into its grading reports.
Today, more than 5 million rough diamonds are registered at source on Tracr, representing approximately two-thirds of De Beers’ rough production by value. Since January 2025, the single country of origin has been available for all new De Beers rough diamonds of one carat and above.
Gem news published on IGR – Italian Gemological Review #23 – Autumn 2026.
