In Vegas, Alrosa announces its approach to traceability

| June 20th, 2019

Alrosa announced its approach to diamond traceability in Las Vegas, offering customers an in-depth look into the origin of their diamonds via a personalized video. At a press briefing held Friday at the Sands during the JCK show, the mining company said it will begin offering diamonds with an “electronic passport which will include information about the 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 behind it.

The video will show the visual history of the diamond, automatically compiling information from internal databases.

“Provenance is the success of our industry, and its future,” Alrosa Director of Sales Evgeny Agureev said during the press conference.

The company said it is looking to appeal to a younger generation by emphasizing its “non-conflict” status and corporate social responsibility.

Alrosa is the latest in a line of companies to announce a traceability program that, ultimately, is designed to bolster end-consumer confidence in diamonds.

There are a few blockchain platforms—which keep track of diamonds from mine to market—in the works, including De Beers’ Tracr, which is now open to the entire industry. (Alrosa joined Tracr in October.)

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Source National Jeweler

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