MajorsJul 02, 2025
Boucheron Looks to LA for First West Coast FlagshipLocated on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.
SourcingJan 26, 2018
De Beers Piloting Blockchain Platform for Diamonds
Blockchain is a technology that’s poised to transform industries in the coming years, and De Beers wants diamonds to be one of them.
De Beers just launched a pilot blockchain program for the diamond supply chain. Blockchain is the technology behind bitcoin and also is now being employed by banks, as well as in real estate and music streaming.
New York--Blockchain is a technology that’s poised to transform industries in the coming years, and De Beers wants diamonds to be one of them.
Last week, the diamond miner and marketer announced it has launched a pilot blockchain program for diamonds in partnership with BCG Digital Ventures, a subsidiary of Boston Consulting Group that’s investing heavily in blockchain.
Best known as the technology behind bitcoin, blockchain is a secure digital ledger that is decentralized, meaning it exists across multiple computers and servers and is not owned by any one user or organization.
For the diamond industry, De Beers’s David Prager said it will be used to register each interaction with a stone—like when it is cut at factory or graded at a lab—that then becomes part of the “block” of information about that particular diamond as it passes through the supply chain.
Each block must be validated by the blockchain community before it is added to the digital ledger.
When “chained” together, these individual blocks will form a digital record for each diamond.
Though it is being developed by De Beers, Prager said the diamond blockchain will be accessible by all industry participants, but will not include lab-grown diamonds.
“This is a diamond blockchain to record a diamond’s journey as it passes through the full value chain,” he said. “It is not for other products, whether they be lab-grown, precious metals or simulants. This means that the diamond blockchain will be able to provide the industry and consumers with clear and unambiguous assurance that their diamond is natural.”
It will be governed by an independent, nonprofit organization, the details of which are still being worked out.
A key focus of the pilot program is making the blockchain compatible for a range of operating systems for computers and phones.
When asked which companies will shoulder the extra cost blockchain will bring to the supply pipeline, Prager said De Beers is making the initial investment in blockchain because it believes it’s important for the diamond industry and that, ultimately, the efficiencies it will create in the supply chain will reduce the cost of doing business for many users.
Last week, the diamond miner and marketer announced it has launched a pilot blockchain program for diamonds in partnership with BCG Digital Ventures, a subsidiary of Boston Consulting Group that’s investing heavily in blockchain.
Best known as the technology behind bitcoin, blockchain is a secure digital ledger that is decentralized, meaning it exists across multiple computers and servers and is not owned by any one user or organization.
For the diamond industry, De Beers’s David Prager said it will be used to register each interaction with a stone—like when it is cut at factory or graded at a lab—that then becomes part of the “block” of information about that particular diamond as it passes through the supply chain.
Each block must be validated by the blockchain community before it is added to the digital ledger.
When “chained” together, these individual blocks will form a digital record for each diamond.
Though it is being developed by De Beers, Prager said the diamond blockchain will be accessible by all industry participants, but will not include lab-grown diamonds.
“This is a diamond blockchain to record a diamond’s journey as it passes through the full value chain,” he said. “It is not for other products, whether they be lab-grown, precious metals or simulants. This means that the diamond blockchain will be able to provide the industry and consumers with clear and unambiguous assurance that their diamond is natural.”
It will be governed by an independent, nonprofit organization, the details of which are still being worked out.
A key focus of the pilot program is making the blockchain compatible for a range of operating systems for computers and phones.
When asked which companies will shoulder the extra cost blockchain will bring to the supply pipeline, Prager said De Beers is making the initial investment in blockchain because it believes it’s important for the diamond industry and that, ultimately, the efficiencies it will create in the supply chain will reduce the cost of doing business for many users.
“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.”–De Beers Group CEO Bruce Cleaver
Having a Blockchain for diamonds would serve several purposes that De Beers and other players undoubtedly see as critical to the industry at this juncture.
First, keeping track of stones from mine to market allows the people who sell them to comfortably say this diamond is what it’s being presented as—for example mined, not lab-grown—and comes from an area of the world currently free of conflict.
First, keeping track of stones from mine to market allows the people who sell them to comfortably say this diamond is what it’s being presented as—for example mined, not lab-grown—and comes from an area of the world currently free of conflict.
Secondly, having a product that is traceable is more attractive to banks, which have been exiting the industry in great numbers due to concerns about diamonds being tied to money laundering.
“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,” De Beers Group CEO Bruce Cleaver said. “We look forward to continuing to engage with industry stakeholders as we progress development of the platform over the coming months.”
De Beers said its pilot blockchain program involves a “small number of participants.” While it isn’t disclosing company names, it said the partners “span the diamond value chain” and do include some sightholders.
A full launch is expected to take place later this year.
De Beers executives were in New York ahead of the Gem Awards and 24 Karat Club events last week pitching their blockchain project to the broader industry, including members of the U.S. Jewelry Council, a group of trade organizations that work together to ensure U.S. representation on responsible sourcing issues at the governmental and international levels.
Among those in attendance was Ronnie VanderLinden, president of the Diamond Manufacturers & Importers Association of America (DMIA), who said, “While this is still at an early stage of development, De Beers’s willingness to cooperate with and seek advice from all industry participants bodes well for successful development and implementation of this initiative. We look forward to continuing to work with them as it develops so we can make sure our members stand to see maximum benefit.”
De Beers has launched a website specifically for blockchain, which includes a section where visitors can sign up to receive updates as the project moves along.
While the miner and marketer works on developing a blockchain specifically for diamonds, a separate effort is underway to apply the technology to the colored gemstone supply chain.
Swiss gem lab Gübelin announced earlier this month that it is working with technology company Everledger to develop a program that will trace colored gemstones from mine to market, which it says will be the first of its kind.
More on Sourcing
The Latest
MajorsJul 02, 2025
Marco Bicego Opens Milan FlagshipThe new location continues the brand’s celebration of its 25th anniversary.
WatchesJul 02, 2025
Chrono24 Revamps Brand, Launches New CampaignThe online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
CrimeJul 02, 2025
Pandora, Amazon Partner to Uncover Counterfeit Jewelry NetworkWorking with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.
Weekly QuizJul 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJul 01, 2025
Cast Closes Business, Plans for RelaunchThe jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.
Events & AwardsJul 01, 2025
William Goldberg Diamonds, FIT Partner for Apprenticeship ProgramThe company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
IndependentsJul 01, 2025
Elie Hannoush, Founder of Hannoush Jewelers, Dies at 73He is remembered for his successful entrepreneurship, generosity, and dedication to his family.
MajorsJul 01, 2025
Claire’s Is Looking for a Buyer, Report SaysThe jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.
TrendsJul 01, 2025
Amanda’s Style File: Red Hot RubiesWelcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.
CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry SalesThe best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education ScholarshipThis year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry“The Jewelry Book” comes out this September.
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech PlatformThe company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
IndependentsJun 27, 2025
David Webb Announces New Hires, PromotionsFollowing its recent acquisition, the storied brand has updated its leadership team and regional managers.
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner AGS also named the recipient of its “Women in Leadership” scholarship.
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap RingThe 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers DownsizesRocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.
IndependentsJun 26, 2025
Penny Ruston Dies at 80 The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.
SurveysJun 26, 2025
After Recovering in May, Consumer Confidence Dips in June The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.
CollectionsJun 26, 2025
Jam Out With Sorellina’s Jimi Hendrix-Inspired JewelsThe “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.
Events & AwardsJun 26, 2025
The Jewelry Symposium Is Looking for Speakers for 2026 EventThe event is set for May 16-19 in Detroit, Michigan.
IndependentsJun 25, 2025
Marissa Collections Opens in Nantucket as Legal Fight ContinuesThe Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.
CrimeJun 25, 2025
Customs Nabs Another Big Shipment of Fake Cartier, Van Cleef JewelryAgents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.
CollectionsJun 25, 2025
Splash into Karina Choudhrie’s Collection of Underwater Circus PerformersThe designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.
