Diamonds are forever, they say. Even as the diamond market has flourished throughout generations of humankind, it is slowly being brought down by unforeseen problems. This includes issues such as the decreasing tendency of mining volume of diamonds, issues with violent conflicts, and environmental issues such as the impact on soil and water resources. For an $80 billion market, a solution must be reached to ensure that our diamonds don’t fade away. Enter PURE DIAMOND.
PURE DIAMOND is a Japanese company that is moving into the future of jewelry, making steps to ensure the continued existence of beautiful gemstones on our planet. PURE DIAMOND is the first Japanese company to create lab-grown diamonds, that have the same chemical, physical and optical properties of a real one.
The diamonds that PURE DIAMOND creates is different from imitation stones currently in the market, as it is made out of pure carbon. The only difference is that one was grown in a lab while the other one was grown in a mine.
All laboratory tests indeed confirm that PURE DIAMOND’s lab-grown counterparts are virtually the same as normal ones, thus making a “real diamond produced by the latest technology”.
This technology allows for the creation of red, blue and widely sought-after diamond colored diamonds, with PURE DIAMOND aiming to build a new market created by human ingenuity and research.
Lab-grown diamonds are the next step being taken by the diamond industry, with industry leader Swarovski announcing synthetic diamonds in a new brand recently. De Beers, a company that controls over 30% of the worldwide diamond market, have also announced that they will launch their own synthetic diamond brand.
PURE DIAMOND’s Cutting Edge:
While these companies are established in the space, they do not have one thing that PURE DIAMOND does. The PURE DIAMOND Network utilizes blockchain technology to utilize data effectively. The PURE DIAMOND FARM analyzes all the naturally occurring environments of diamonds and conducts detailed research on the features and differences. This data is then used to imbue PURE DIAMOND’s products to have unique traits. These traits and data will be linked using blockchain technology to record the characteristics of individual diamonds.
The target market for PURE DIAMOND is huge, as the Japanese jewelry market is worth 970 billion Japanese Yen, or approximately 8.7 billion USD. About half of the market is taken up by diamond and is valued at around 500 billion Japanese Yen.
Worldwide, the synthetic diamond market has a size of about $16.2 billion, due to high demand for industry use. In the application targeted for the PURE DIAMOND project, the global market size is $1.5 million, while still being in the growth stage. Research also shows that the market size of lab-grown diamonds will be 5 times larger in 2020, upon which the project will also expand to further markets.
PURE DIAMOND COIN [PDC]:
The PURE DIAMOND COIN is the token based on the PURE DIAMOND NETWORK Blockchain and creates a tokenomy for users of the product. It allows holders to purchase a lab-grown diamond on the PURE DIAMOND network and can be used for settlement, with market prices decided by secondary markets.
The effectiveness of this approach comes into play when realizing that lab-grown diamond and coin can both be exchanged and traded in their own markets.
The transparency of the transactions can also be ensured due to the use of blockchain technology. The team has also implemented technology that ensures the reliability of diamond of PURE DIAMOND Network. Due to this, and the immutable nature of the blockchain, risks like purchasing fakes can be minimized.
PURE DIAMOND COIN generally creates a token economy around the PURE DIAMOND product. More than being used on the PURE DIAMOND NETWORK, PURE DIAMOND COIN can also be used as a mode of settlement for goods and services throughout the network. Interestingly, PURE DIAMOND COIN is meant to also be used in real-life transactions.
PURE DIAMOND COIN can be traded through a decentralized exchange platform offered by PURE DIAMOND themselves. At the PURE DIAMOND EXCHANGE, lab-grown diamonds and tokens can be exchanged with each other. This EXCHANGE aims to grow into one where token holders can buy lab-grown diamonds and exchange fiat or cryptocurrency with another token holder.
PURE DIAMOND COIN is issued in concurrence with the value of a real diamond, allowing for a more stable value than traditional cryptocurrencies. Added to this, every diamond manufactured by PURE DIAMOND FARM is individually inscribed, with PURE DIAMOND COIN generated on the PURE DIAMOND NETWORK.
PURE DIAMOND NETWORK:
PURE DIAMOND NETWORK uses blockchain and implements an encrypted peer-to-peer network. This makes the network decentralized, thus removing its dependence on the central control management approach. This also makes it possible to communicate and distribute non-falsified information.
The team behind the PURE DIAMOND project also plans to implement an Artificial Intelligence assessment system. This will be used in conjunction with an evaluation system. Moreover, the team aims to develop applications that enable verification of the PURE DIAMOND product and PURE DIAMOND COIN.
It is notable that the PURE DIAMOND NETWORK will move away from the Ethereum network soon after its launch, due to issues with high fees and scalability. This means that PURE DIAMOND NETWORK will exist on its own blockchain, allowing for a more free approach to developing the blockchain.
PURE DIAMOND’s team has implemented a variety of technologies that are most appropriate for the properties of the PURE DIAMOND NETWORK. These features were discovered by studying blockchains worldwide. The team also had the freedom to develop and build an original recognition algorithm that will calculate a physical amount of PURE DIAMOND in existence, and assign value to them based on a variety of factors.
Token Sale and Details:
The token sale for the PURE DIAMOND COIN token will occur in September 2018, Investors looking to buy PDC Tokens can do so by paying through Bitcoin, Ethereum, Ethereum Classic and Bitcoin Cash.
The total number of PDC is the total number of token sale participants at the end of the ICO. The upper limit for the total issue is capped at 150%.
To know more about PURE DIAMOND, click here.
Subscribe to AMBCrypto’s Newsletter
Tron [TRX] rises in the charts as Justin Sun-led cryptocurrency becomes biggest gainer in the top 20
Central bank cryptos will follow after being battle tested by corporations, says PwC’s Pauline Kalfon
Facebook Coin’s plan to overhaul the US Dollar falls short of conviction
WaykiChain [WICC], Blockchain Industry Delegate, with over 150 Top Global Firms Attends China Development Forum [CDF] 2019
Ripple’s class-action lawsuit takes a step further as court sets schedule for next year
Flash hike: Qtum skyrockets by over 36% in 1-hour after Apple Pay & Samsung Pay announcement
Craig Wright’s Twitter account suspended after threatening harassment and libel lawsuits
Qtum partnership with Zeus enables users to trade cryptocurrency on Apple Pay, Samsung Pay
Bitcoin Cash [BCH] developers introduce privacy-protecting lightweight protocol, Neutrino
Bitcoin Cash [BCH] Price Analysis: Bears return as market correction precipitates decline
Bitcoin [BTC]: Dubai gets its first ATM; users can acquire BTC using any fiat currency
Stellar and IBM’s World Wire gets another boost as MatchMove joins service
- Press Release
Blockchain technology in the Utilities and Energy Market explored at the Blockchain Expo London
CFTC Commissioner: Regulated cryptocurrency market could attract institutional investors