Diamond experts, De Beers, aim to launch the first blockchain tech in the industry this year, Reuters in London reported on January 16th. The distributed ledger system will be used to track gems across their entire supply chain, following their every move from the minute they are dug out of the ground. It will be open to all participating parties and will comprise the first end-to-end process in the industry.

De Beers, assessed by the value of its stock to be the world\'s largest diamond producer, has been leading the industry\'s efforts in verifying the gems\' authenticity. This involves several factors, including preventing synthetic stones being passed off as real diamonds, and ensuring their provenance. De Beers provides a cast iron guarantee that its stones are all ethically sourced, and are not from any conflict zone where the gems might be used to finance terrorism and violence – as in the movie, Blood Diamond.

Such guarantees are vital for maintaining consumer confidence in De Beers. The firm is also committed to working with industry members and national governments in support of the \'Kimberley Process\' – a procedure set up in 2003 which increases transparency and endeavours to eliminate trading in conflict diamonds. The blockchain can consolidate this process by offering a secure tracking system, providing an immutable digital record for each stone, from source to sale.