De Beers Group, the world’s largest diamond producer, has partnered with the Gemological Institute of America (GIA) to invest in Tracr, a blockchain-based platform tracking natural diamond origins. The move aims to rebuild consumer trust amid falling prices and rising competition from lab-grown alternatives. GIA’s 30% stake in Tracr signals confidence in the technology’s potential to scale across the industry, according to De Beers. This initiative follows industry-wide efforts to launch a large-scale traceability system designed to further build customer trust and establish the provenance of consumer jewels, a strategy industry observers say will boost sales.
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The platform records each diamond’s journey from mine to market, including cutting, polishing, and design details. Users can trace a diamond’s history, which Lu Qi, a gemmology professor at China University of Geosciences (Beijing), says could boost sales by increasing transparency. “Consumers want to know where their diamonds come from,” she said. However, she noted traceability might also raise natural diamond prices. The system is designed to reassure buyers about ethical sourcing and quality, with De Beers emphasizing that “consumers deserve to know where their diamonds come from.” Provenance tracking for natural diamonds is expected to lift sales, as the platform records each diamond’s origin, design, cutting, and polishing processes, helping raise awareness and confidence in natural diamonds.
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Lab-grown diamonds have disrupted the market, with prices dropping sharply. The IDEX Diamond Price Index fell 45% between 2022 and 2025, according to data, plunging from 158 to 86. The two types are nearly identical to the naked eye, complicating consumer choices. The natural diamond market has been h
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De Beers has been developing Tracr since 2018, and it now tracks over 5 million rough diamonds—two-thirds of its production by value. The system is designed to reassure buyers about ethical sourcing and quality. Al Cook, De Beers CEO, said, “Consumers deserve to know where their diamonds come from.” Survey data from NielsenIQ in China shows 95% of respondents plan to buy jewellery within a year, with 70% preferring natural diamonds. Traceability was a top concern for 92% of those surveyed, highlighting its growing influence on purchasing decisions. The industry’s push for blockchain transparency comes as lab-grown options expand consumer choices—and challenge traditional notions of diamond value. With 1,170 respondents surveyed, the findings show a clear link between traceability and consumer trust in natural diamonds.