Tracr: In Pursuit of Traceability

With over 2 million rough diamonds already uploaded to its digital platform, Tracr is trying to help facilitate increased transparency in the diamond market. In this interview, Jason McIntosh, COO of Tracr, discusses the potential transformative impact of Tracr, delving into Tracr's mission, innovative processes, key benefits, and partnerships driving its success.

What added value can Tracr bring to the diamond industry?

Tracr is providing the technology to help increase transparency and traceability within the diamond sector. Tracr participants can upload data about individual diamonds at each stage of the process onto Tracr’s immutable blockchain platform, which can then be made accessible to retailers and consumers. This is a step forward from the current manual processes within the industry. We've diligently worked towards ensuring Tracr's full scalability, with over 2 million rough diamonds already uploaded onto the platform.

What is Tracr’s mission?

Tracr endeavors to become the diamond industry's premier open, scalable, tamper-proof, end-to-end traceability solution. Our ultimate objective is to facilitate the traceability of diamonds throughout the value chain, spanning from rough to polished diamonds, and to connect all stakeholders interested in sharing information and bolstering confidence.

Could you explain the Rough-to-Rough Matching process and the significance of the Tracr Rough Check?

The Rough-to-Rough Matching process entails participants conducting detailed 3D scans of each rough diamond at the producer and manufacturer levels, followed by comparing the two scans to ensure their similarity. Participants scan the rough diamonds and then upload these 3D scans to Tracr, which then subjects them to a series of automated matching algorithms. A rough check is shown on the Tracr platform if the scans align within a specified tolerance.

How can Rough-to-Rough Matching enhance confidence in the industry?

Rough Check can enhance confidence in the supply chain by providing objective verification through automatic algorithmic matching that the 3D scans of the rough diamond uploaded by the manufacturer align (within an acceptable tolerance) with the 3D scans uploaded by the producer. This can help reduce the risk of misrepresentation or false claims regarding provenance. While downstream checks remain crucial, Rough Check serves as a pivotal starting point.

What are the key benefits of Rough-to-Rough Matching for diamond producers, manufacturers, and retailers?

Rough Matching can bring increased assurance for the data uploaded to the platform. Importantly, it provides an objective way for participants to provide assurance and to enhance overall confidence in their diamonds.

What integrations, partnerships, or collaborations has Tracr established within the diamond industry?

Tracr aspires to be a platform facilitating seamless data exchange across the industry. Consequently, we are in the process of forging integrations with various stakeholders, including marketplaces such as Rapnet, Idex, and Uni Diamonds, grading labs like GIA and De Beers IOD, and technology providers such as Sarine, and InnovSeed. We continually expand this ecosystem to meet industry needs and facilitate streamlined information flow among participants.