【Antwerp, Bel】QR Codes to Trace a Diamond’s Journey from Mine to Final Customer

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Editor’s Note

This article explores how startups like Belgium’s iTraceiT are using blockchain technology to create “digital twins” for diamonds, aiming to bring unprecedented transparency to an industry long defined by opacity.

Digital Twins for Diamonds

The diamond world has often been characterized by great opacity. iTraceiT aims to guarantee transparency at every stage of a gem’s transformation, starting from its extraction from the mine. Several companies are venturing into the digital traceability of gemstones using blockchain technology. This is the case for the startup iTraceiT, based in Braine-le-Comte, Belgium.

A System for Full Traceability

What if the solution involved creating a “digital twin” for each diamond? With transparency requirements becoming increasingly important in the diamond industry, the startup iTraceiT has spotted the opportunity. The young Belgian company has developed a system designed to enable the digital traceability of gemstones from their mining extraction to the final customer, thanks to a new technology combining blockchain and QR codes.

“The idea is to be able to identify the origin of the diamond, regardless of its size, and to track it at every stage of production, from various sortings to cutting and polishing. This data is then accessible in a database, accessible via a QR code,” explains its director Frederik Degryse. “Our internally developed software allows for simple compilation of evidence: photos of the diamond in its rough state or videos showing the precise location of the excavation, purchase invoices, transport slips, certificates, etc.,” he adds.
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⏰ Published on: February 10, 2024