De Beers Group has taken another step in the development of its diamond industry blockchain platform, Tracr. Jim Duffy has been appointed general manager, and will be responsible for developing and scaling the platform as well as overseeing its team and all operational and commercial elements.
“I’m thrilled to be joining the Tracr team and building on the great work that has already been completed as we further progress this potentially far-reaching initiative for the diamond industry,” said Duffy. “In the next several months, we’ll be focused on continuing to bring new strategic partners on board to participate in the Tracr pilot and incorporate the learnings from the pilot phase into what will be a collaborative and purpose-built industry platform.”
Duffy has experience in both the technological and financial industries, having worked at a variety of startups and international technology companies.
“Jim’s skills and experiences are the perfect fit for realizing the vision we have for Tracr,” said Neil Ventura, De Beers Group’s executive vice-president of strategy and innovation. “Jim brings extensive corporate and technology startup experience that will be crucial to the continued development of Tracr, including successful scaling of technology-driven businesses across a number of sectors.”
A pilot for Tracr launched in January, with the involvement of five diamond manufacturers and one retailer, Signet Jewelers. Since then, it has seen the registration of more than US$100 million worth of rough diamonds. As the pilot continues, De Beers says the goal will be to assess how it meets the industry’s needs throughout the value chain.