In October 2017 Igors Nikitins a professional day trader with a degree in Economics took the first step toward the realization of the diamond coin after he has spent more than three years researching the crypto currency market and a diamond market professional that will join him in his project of making cooperation out of it. And in the early part of 2018 the Diamond Network Platform was launched which is aimed at solving the problem of volatility that the Bitcoin and Ethereum have despite almost a decade stay in the crypto market and the great part they have played in the world economy with a daily volume of $15,353,947,239, yet most persons are still skeptical about it due to the fact that their coins are not stable. But using the Blockchain technology, Diamond Network is providing a stable coin (CDC) which is secured by a diamond of 0.04 carat and a utility token (DPT) with a platform that is easy to use and understand.
The Diamond Platform Token (DPT) which is also the utility token will grant an individual access to the diamond platform and services, and it will be used for payment of fees and services done on the platform. While the Certified Diamond Coin (CDC) is a security token and also a payment token that is the reason why it is used as a stable coin and also a reserve currency.
THE QUEST FOR DIAMOND
The demand for diamond today on earth is so high resulting in great wars that have claim the lives of millions of people on earth today even rendering many homeless and hopeless, like the case of Sierra Leone, Liberia and Angola just to mention a few, that it has been tagged ‘Blood Diamond’ and depicted in many movies. In just 2016 alone the value of diamond jewelry market globally was over 80 billion U.S dollars, and mining production alone recording an annual turnover of 12 billion U.S dollars in that same year. Giving rise to the proof that the value of Diamond on earth will continue to gain appreciation producing lots and lots of money to the Diamond industry. But uniformity of the Diamond price globally per carat still eludes humans since there are differences in natural cost and social cost in various countries, despite it being almost impossible to differentiate the source of origin especially after it is being graded.
THE DIAMOND NETWORK PLATFORM
Digital Diamond Database, Gemstone origin verification, Certified Diamond Coin, Marketplace, these four services are being run on the Ethereum Blockchain by the Diamond network.
DIGITAL MARKET DATABASE
The database will store information of test result, historical data, and certificate data if available for each diamond tested and listed on the marketplace. As long as an individual has token the database service on the platform is free of charge except for an in-depth data about the diamond then a fee will be attached to it that will be paid with the DPT token.
GEMSTONE ORIGIN VERIFICATION
The Diamond Network will have to build a physical laboratory where diamond samples will be collected everywhere in the world to serve as a benchmark for all mines in the world, forming a database that an individual can trace each diamond mined anywhere in the world which will add value to the diamond. It is after this test that the diamond will be listed in the public market for DPT token holders.
MARKETPLACE
The marketplace is a platform that will connect buyers and sellers of diamond, but for a seller to list his diamond on the marketplace, the diamond has to be evaluated, digital certificate issued, and laser test conducted then added to the database. The prices of the product will be listed in certified diamond coin determined by the seller, but records are there for buyers to check and compare prices with other similar diamond price and even the sales price set up by the evaluation process before he can purchase an item, on which he can decide to store the diamond on the Diamond Network Vault or have it delivered to him. After the transaction is performed the information is then added to the database to safekeeping of the record.
CERTIFIED DIAMOND TOKEN
Certified Diamond coin is a payment token and also a security token that is backed up by 0.04 carat of diamond that will be easily accessible and available because its price is not volatile meaning the value is stable by itself. The Diamond network will audit the assets in the platform every three months and if the value of diamond in the stock market increases then additional certified diamond coin will be produced and stored in the cold wallet but whenever the value decreases then the CDC will be destroyed or used to buy more diamonds.
For security of the diamond CERTILINE an Italian company produces the security case for which the diamonds are packed, and then stored in an automated vault that is connected to the database and managed by robot to avoid human errors which points to the high security level.
Certified Diamond token will be produced according to the market demand but in relation to the diamonds stored in the stock, which the owners can use to keep their funds safe as a reserve currency or make payment although a small fee is being attached for this purpose. But if the owner still wishes he can exchange it for an investment diamond on the marketplace.
Diamond Platform Token/Distribution
The Diamond Platform Token cannot be used as an exchange token because it is not backed up by any asset. Therefore it gives an individual right to access the Diamond Network Platform and its services with hope of no profit in return, and also be able to be part of the decision making process via voting. 10 million of this token will be produced by the system which is constant but destroying of already existing tokens and issuing of new ones will also be incorporated by the system.
15% of this token will be for the team and 10% for advisors and partners, 30% twice will be for ICO main sale and Token sale through time respectively, another 10% will be for token pre sale and the final 5% for bounty.
The ICO is expected to raise $ 15 million and $8 million on Soft Cap which $3.9 million will be used on software development, $ 5 million for assets, $ 1.4 million on infrastructure, $ 2.3 million for legal expenses and licensing, $ 1.2 million on marketing and another $ 1.2 million for operational cost reserve.
CONCLUSION
The Diamond Coin is not only just attractive but also beneficial to investors and users alike, since it does not have a centralized Database management but managed by the Ethereum Blockchain, and the physical asset is safely stored in an automated Bank Vault that is controlled by robot to avoid cases of stolen diamonds or assets which existence can be traced on the Diamond Network Platform. We employ you to be part of this ever growing project that will take by storm the crypto currency and Blockchain market and enjoy its many benefits.
REFERENCE
For more information visit
Website: https://cdiamoncoin.com
Whitepaper: https://cdiamondcoin.com/media/Strategic_White_Paper_DN_V.3.pdf
Medium: https://medium.com/Cdiamondcoin
Facebook: https://facebook.com/Cdiamondcoin
Github: https://github.com/Cdiamondcoin
reedit: https://www.reddit.com/r/cdiamondcoin/
Author: Delightme
Bitcointalk profile Link: https://bitcointalk.org/index.php?action=profile;u=1860734
ETH: 0x145d630dE9593a0CA2bB7766e8ED32ff84a89226