Dear DMD Diamond Community,
DMD Diamond Foundation’s second bi-annual meeting took place in March in Austria. Over the course of 4 days the core team has had several very productive sessions where it analyzed what had been achieved since the last meeting, discussed questions submitted by the community and explored new pathways for DMD in areas such as marketing, software development and additional services.
In the 6 months’ period DMD Diamond Foundation has achieved 95% of set targets so this can be regarded as a success. Encouraged by that result we have set new aims and goals that we plan to accomplish within the next period. Some technical development however will become our long term goal, nonetheless, we expect to see meaningful progress each time we evaluate the situation.
Using this opportunity we would like to announce that DMD Diamond has completed a design and brand guideline book which outlines general rules of usage of the logo together with its logotype, color scheme, display typeface and others that in tandem build the visual identity of DMD Diamond. This is an important step in the development as it allows us to harmonize the messaging and sets the tone that is consistent with our core values. The guide can be viewed and downloaded from:
https://bit.diamonds/DMD_branding_guide.pdfAll communication channels that use visuals will be successively updated to incorporate these changes. As a result the main website
https://bit.diamonds will undergo a major upgrade both in terms of content and its design. We will also improve on technical support section and accessibility to reach the community and developers. The transition is planned to be completed within the next 90 days.
Based on the available data and first hand experience DMD team recognizes that the Asian markets are going to play a crucial role in the future success of cryptocurrencies, not only because of favorable legislation in certain jurisdictions that encourage participation and development but also tech-savviness and forward thinking of that region’s population which can see the benefits of blockchain technology.
In the coming months, DMD Diamond will focus on gaining a foothold in the growing Asian market. Within a few months we will see new region specific languages being introduced to the website to make information regarding Diamond more accessible. What’s more, new social channels directed at these markets will be established to directly communicate and educate people about DMD. We will also seek to extend the support team to specifically address these areas of development. We will continue to work on being added to a prominent Korean exchange Upbit which would have a major positive impact on the trading volume of DMD. Exchange listings are not always in our hands as they happen at sole discretion of the operators but we feel that eventually we will find our way to the markets from that region.
Nowadays, centralised exchanges are a norm, they are fast and some of them attract significant number of traders, however, there are many disadvantages to this model. They are not permissionless, they are prone to failure i.e. hacking and ever tighter legislation can in some cases create unnecessary barriers. Centralised exchanges are going to play an important role for foreseeable future and be main on and off ramps to FIAT. However, blockchain community as a whole is eventually going to move to a decentralised model of exchanging value. DMD Diamond will continue to develop technology, promote and work with projects that can offer such possibilities. Even though, this type of technology has still some way to go before it is ready for prime time, when it arrives it will change the crypto landscape in a significant way. DMD is currently working on integration with
https://crypto-bridge.org/ and we hope to be featured there in the near future.
Another positive development is that DMD Diamond can now be purchased directly with both Debit and Credit Cards via Indacoin. Even though customers would have to pay a premium in the range of 15-35% for the service, due to operating costs caused by things like credit card chargebacks, it eliminates an entrance barrier to DMD. We will work with Indacoin on implementing a direct purchase option to our website and if the system proves to be popular and effective in the long run we would consider even tighter integration. You can explore the option of buying DMD by following this link:
https://indacoin.com/en_GB/change/buy-diamond-with-cardusdIn terms of core software development DMD Diamond team has analysed in detail several different options, their negative and positive aspects as well as long term viability and impact on the value of DMD. The clear winner is SegWit technology that will allow for seamless integration with the Lightning network. Following this path will ensure DMD Diamond is a part of interconnected heterogeneous blockchain future and benefits from services that will be developed on top of it.
The latest buzz word in crypto is the 0 proof protocol that completely anonymises transactions. In theory this sounds like a very attractive ability to have, however, we don’t live in the digital world only and such technology is incompatible with the real world where it’s the legislators who dictate whether a cryptocurrency will be able to access the real economy and financial markets. There is a serious case for concern for coins that adapt such deep anonymity feature and we can expect a crackdown on coins that go this route. DMD Diamond Foundation would not risk compromising DMD’s long term viability for the sake of short term gains. Infact, once Diamond gets access to the Lightning network similar anonymity will be achieved thanks to the way such network operates, as a giant coin mixer, without above mentioned legal implications and with a bonus of being able to be used wherever bitcoin is used.
Be no mistaken, 0 proof protocol has its use case such as hiding sensitive information in smart contracts and it will be very useful to lots of companies, but deep anonymity of coin transactions is a completely different matter that could render coins useless as a viable form of payment. Be weary of claims to the contrary as even at the next G20 summit countries will discuss how to prevent money laundering in crypto that such technology easily permits. This anti anonymity sentiment has already started to affect crypto, for instance coins such as Monero, Zcash and Dash that use anonymity features are being removed from the infamous Japanese Coincheck exchange as a precondition to obtain the licence to operate legally; this might well become a worldwide trend.
Decision to go with SegWit technology is a general direction of future core development. It’s an extremely complex task and there are no off the shelf solutions; it will have to be developed as industry first. There is no Proof of Stake-Masternode-SegWit enabled coin but we are determined to deliver just that within the next 12 months.
Current DMD wallet is a very advanced software with ability to implement most of the latest technologies such as smart contracts. However, any implementation of such features must be backed by a real demand for it. Introducing new technologies for the sake of adding them to create hype is counterproductive and not in line with Diamond’s values. Eventually, smart contracts will appear in DMD Diamond but this will be in response to the need that we are going to create.
Another aspect we will focus on is an access to iOS devices. There is a huge potential for growth once the coin can be used in Apple products. We will try to achieve this via Coinomi mobile wallet which we are part of. We cannot put a definite time frame for this but we believe it's a very realistic prospect.
As we take on this ambitious development DMD Diamond Foundation is seeking to expand its core and support teams and we would like to officially announce that a new core member Steve Müller (metamorphin) who has been a long term friend and supporter of DMD Diamond project is joining our team. He has an extensive knowledge and experience in marketing with plenty of new practical ideas and solutions of how to make DMD a stronger and more prosperous coin. He has been the decisive force in delivering success to many other crypto projects and we are excited to work together and learn from him the best strategies and practices. Due to the challenges facing crypto and evolving complexity of the blockchain technology we see it critical to engage with talented people (developers, researchers, professionals) who can deliver value to the project.
On the marketing side we have been in contact with a few different professional PR companies that we think would deliver a recognition in and out of cryptocurrency sphere. However, our community is full of wonderful people who promote DMD in a really professional way. Please take a look at the promo video created by a community member @drdmd. The love for Diamond shines through the quality of this work. Thank you!
https://www.youtube.com/watch?v=AXk_8lLFInc&feature=youtu.be (male voice)
https://www.youtube.com/watch?v=CAU9iCN8jtQ&feature=youtu.be (female voice)
Please let us know on Slack which version you like the most so we make it an official promo video of DMD Diamond.
DMD Diamond Foundation will also start a lottery for Tweeter where it will be possible to win 100 USD worth of DMD for retweeting official DMD tweets. With each round three people will be selected for awards. Out of these, one person will be randomly picked and rewarded while the other two individuals whose retweets had the best outreach would be guaranteed prizes. If people enjoy it and we see some good results this could become periodical.
As most of the community is aware Diamond Cloudmining is being slowly phased out and during the meeting the team had discussed an alternative that could replace constant buy pressure that service generated. It is still largely in a research stage, as all aspects from technical to legal need to be evaluated. However, we are positive we are on the right path to create a passive income service related to DMD that at the end could be open to investors. At that stage a Smart Contract solution will have full legitimacy to be implemented.
The team has also discussed implications of DMD’s coin roll-out plan that entered a new phase. After many years DMD rewards which were extremely generous and worked wonders at the early stages in order to stimulate network effect are finally going to be decreasing. This is a good news for DMD holders as according to supply and demand principle the scarcer the coin the higher its value is going to be. As DMD’s coin roll-out follows a gradual decay we won’t see any abrupt halvings and for the next 3 years DMD will stay still a very attractive with healthy big yearly returns. In the meantime we are planning to introduce multiple economically linked project that are going to generate demand and affect DMD positively in a big way. The passive income project we mentioned above will be the first one that we have planned.
DMD Diamond team has set realistic and achievable goals that we will be able to evaluate at the next meeting in September. The Foundation meeting was a great experience that helped to build team spirit, it infused everyone with enthusiasm and gave us a real boost to keep going and improving our work. Growing a cryptocurrency project is a marathon and not a sprint competition and as the saying goes constant dropping wears away a stone. With our long term vision and devotion there is nothing that can shake our resolve to deliver the best for DMD Diamond investors.
Yours truly,
DMD Diamond team
Original release:
https://www.linkedin.com/pulse/summary-second-dmd-diamond-foundations-meeting-aleksander-mesor/?published=tgood stuff and an awesome read.
