Russian diamond miner Alrosa unveiled at JCK Las Vegas the latest contribution to the diamond tracking trend, creating a place-of-origin program that will provide consumers and traders with in-depth provenance information, complete with a personalized video. The company said it will soon launch a program in which an 'electronic passport' will accompany a diamond, providing information about the physical characteristics of the diamond as well as its age, the place and date of extraction, when and where it was cut, and the name and background of the craftsperson that fashioned the stone. The personalized video will provide a visual history of each stone, compiled automatically from databases.
“Provenance is the success of our industry, and its future,” Alrosa Director of Sales Evgeny Agureev said during the JCK press conference. The company said it is looking to appeal to a younger generation by emphasizing its "non-conflict” status and corporate social responsibility. Initially aimed at the trade, Alrosa said it intends to expand it to the public in the fall of this year, perhaps in the form of direct-to-consumer sales.
The Alrosa announcement follows the latest release about De Beers’ blockchain platform Tracr (of which Alrosa is a member) being opened up to the public, and joins the increasing number of initiatives to keep track of diamonds from mine to market, which designed to foster consumer confidence in diamonds. “The traceability of a diamond is a pledge of confidence to anyone making such a purchase,” Alrosa said, adding that Information on provenance, social responsibility and a stone’s non-conflict status “are all required by purchasers, especially younger generations." Alrosa will roll out the system of electronic passports with 2,000 diamonds, and plans to increase that number going forward. Dealers will receive information on how to access the videos accompanying the diamonds they’ve purchased and instructions on how to pass that information along to the customer, Alrosa said. In the near future, end consumers will be able to access the videos through an online portal as well.