Source: The Next Web
De Beers is deploying Tracr, its blockchain platform, to authenticate natural diamonds and create a provenance narrative—a defensive move that reveals the mined diamond cartel's real crisis: lab-grown stones are chemically identical, technically superior, and 40-50% cheaper, making authenticity claims irrelevant when consumers care more about price and sustainability. The 45% price collapse reflects a market that has already decided; blockchain traceability cannot rebuild demand for a product that younger buyers increasingly view as a commodity or ethical liability. De Beers is essentially paying to certify why its diamonds matter less, not more.