ODC joins Tracr amidst provenance push
Lewanika Timothy | Monday June 16, 2025 11:14
The move comes as the global diamond industry faces mounting regulatory pressure—particularly from G7 countries—to provide verifiable proof of origin amidst ongoing sanctions on Russian diamonds and growing scrutiny of supply chains. ODC’s integration signals a broader shift toward traceability as a financial necessity, not just a branding exercise.
The natural diamond industry is under growing pressure from sanctions, synthetics, and shifting consumer preferences. Since the invasion of Ukraine, Russian diamonds, which pass through complex trading routes before reaching Western markets, have faced mounting restrictions, especially from G7 economies. This has triggered a broader reassessment of how diamonds are sourced and certified.
Traceability, once a branding exercise, is fast becoming a regulatory requirement.
In a statement shared with journalists online ODC Managing Director Mmetla Masire said that joining Tracr will help to strengthen transparency measures in the diamond blockchain.
'At Okavango Diamond Company, we believe that every diamond carries more than just its natural brilliance, it carries the story of its origin, its journey, and the people whose lives it touches along the way. By joining the Tracr platform, we are strengthening our commitment to transparency and ensuring that Botswana’s diamonds are recognised for the ethical legacy they represent. This step is not just about technology; it’s about trust, responsibility, and shaping a future where provenance is as valuable as the diamond itself.'
ODC’s adoption of blockchain can be deemed as less about embracing innovation than it is about staying in the game. From early 2025, the company began tagging diamonds in the three to six grain and two to 10 carat ranges on Tracr, offering immutable digital records of their origin. It is a strategic response to demands from international buyers and regulators who increasingly view provenance as essential to compliance and credibility.
For Botswana, whose economy depends heavily on diamond revenues, the stakes are high. The country sells its diamonds through a 50-50 joint venture with De Beers, via Debswana, and has gradually expanded ODC’s role to market a larger share independently—30% now, rising to 40% by 2028. That autonomy, however, comes with new responsibilities, particularly around traceability and transparency.
Debswana is feeding upstream data into Tracr to support ODC’s onboarding, but it is still early days. Whilst blockchain offers the promise of end-to-end tracking, it can’t solve structural issues in a fragmented industry where midstream players often blur the origin trail.