In 2023, at a time when the embargo on Russian diamonds is taking shape at European level, iTraceiT is focusing on transparency by creating the first diamond identity passport using a QR code. All data relating to the production process, workplaces, working conditions and products used are centralized, as co-founder Guy Desmet explains : "Each player, from the producer to the processing factories, retailers and finally the local trade, will supply information, and the end consumer will then be able to know the correct provenance and the entire life of the product".

Today, the solution is available for luxury items such as handbags, and for Jennifer Moriconi, in charge of international development, companies no longer have a choice. They must now be able to explain where their products come from : "Those who don't, are considered to have something to hide. Those that do, it's because they want to show something positive. And in reality, traceability shouldn't be used as a sanctioning tool, but rather as a tool that enables those who do positive things to show them off".

European regulations: an asset for development

With 160 customers all over the world, iTraceiT has established itself as a benchmark by relying both on brands' desire for transparency and on European regulations : "You have to realize that Europe has the highest level of regulation in the world. We're always taken as an example in this respect. We now have customers in India, Dubai and the United States, who have the same needs, so obviously they're going to have to interface with Europe".And according to Jennifer Moriconi, this European anchorage is a valuable asset, particularly in view of international tensions : "Given that we're a European company with databases in Europe, we have European confidence. Data is important these days, and for us, protecting our customers' data is one of the most important issues. This means that we already have an advantage over our competitors outside the European Union.

While the Hainaut-based company is currently concentrating on high value-added markets, its long-term aim is to take an interest in everyday products : "We need a solution that adapts to everything. We're all familiar with the fair trade initiatives that were launched some twenty years ago at European Community level. But here, we're taking it a step further, because at every stage of the supply chain, the next question will be who gets paid for what". To achieve this, the company needs to hire and has given itself 5 years to grow from 15 to 50 employees.

Source: www.rtbf.be/