(ANTWERP) – iTraceiT, a new and independent technology and service provider, has announced the impending launch of a robust and user-friendly traceability solution for the diamond and jewelry industry.
Growing demand for ethically sourced diamonds is driving the industry to improve its transparency and traceability. Various applications have been developed in search of a sustainable solution, each of them focusing on a specific selection of products or certain stages of the pipeline. iTraceiT, on the other hand, has taken another critical step by creating an industry-wide, independent, user-friendly and totally secure tool for the complete authentication of diamonds of all sizes. Toward its global launch later this year, iTraceiT is working with pioneering partners on pilot projects.
Technology that ensures authenticity
A rough diamond does not become a polished gem overnight. iTraceiT creates a unique QR code that records, stores, and displays all processes performed on any gemstone, from mine to finger, to keep and maintain track of every action taken. Any type of data can be easily attached to this digital QR in addition to the information collected by default. Custom data fields can even be defined and integrated.
Transparency drives efficiency
Why stop there? iTraceiT’s technology is not only proving its value in the demanding diamond industry. These collaborative tools can just as easily be integrated into the supply chains of other businesses to ensure thorough management and oversight of production processes and services.
Total transparency in the luxury industry
A large portion of consumers no longer want to purchase an attractive luxury item that carries the risk of questionable sourcing. iTraceiT’s technology is compatible with all businesses and traces every step of the production process, reaffirming to customers that their precious purchase is a safe and reliable investment.
But it’s not just about knowing the origin of each component. This new cloud-based and blockchain-powered software reassures both serious retailers and concerned consumers that all intermediaries uphold the same standards.
Business data is just as valuable and deserves the same attention as the item it is connected to. iTraceiT takes every possible measure to protect a company’s valuable information without compromising the user-friendliness of the tools and the mobile application.
Each client has its own database, and all data linked to a QR code is encrypted. A personal access code protects the back office, allowing only authorized personnel access. iTraceiT can also be integrated into existing systems.
Frederik Degryse, iTraceiT’s newly appointed CEO, notes: “We are excited to finally share our traceability solution with partners in our industry that are at the forefront of business transparency and sustainability. We believe that we now have a solution that the entire industry can get behind: a system that connects all stages of the pipeline in a united effort to make the end consumer feel confident and good about their purchase.”
“This is the decade of trust and transparency,” Responsible Jewellery Council Executive Director Iris Van der Veken stated. “It is all about consumer confidence. I applaud iTraceiT for its leadership and commitment to sustainability. The time is now to integrate sustainability at the core of your business strategy. Initiatives like these are critical to driving positive impact forward.”