Real-Asset Cryptocurrency | Japan's First Lab-Grown Diamonds___________________________________________
The future of diamonds? Pure Diamond enters market with revolutionary technology
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 jewellery, 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.
PURE DIAMOND COINThe Pure Diamond Coin (PDC) 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 realising 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 minimised.
PDC generally creates a token economy around the Pure Diamond product. More than being used on the Pure Diamond Network, PDC 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 decentralised 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. PDC 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 PDC generated on the Pure Diamond Network.
PURE DIAMOND NETWORKPure Diamond Network uses blockchain and implements an encrypted peer-to-peer network. This makes the network decentralised, 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 PDC.
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.
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