Diamante Blockchain Consortium Continues To Attract Diamond Businesses Of All Sizes With Its Trade Opportunities

The diamond consortium will offer a range of advantages for diamond businesses to network with the global market and conduct trade in a secure and efficient platform.

The jewelry industry often takes a hit because of the circulation of counterfeits in the market. This is true especially in the global diamond industry (worth 80 Billion USD), with lower-priced synthetic and lab-created diamonds being passed off as natural mined diamonds. In the shadow of such a predicament, blockchain technology is being viewed as an innovation that can mitigate the flow of fake diamonds and conflict diamonds. Diamante Blockchain Consortium goes a step further and plans to provide a unified and regulated marketplace to diamond industry participants across verticals, opening up growth avenues.

Advantages for small scale and medium scale companies in the consortium:

Small and medium scale companies will directly connect with buyers around the world with full privacy and get optimal value for their goods, and acquire rough diamonds at a fair price. Validating transactions through smart contracts would eliminate fraud and late payments.

Companies belonging to this category stand to benefit from a unified marketplace created using blockchain technology to provide them with growth opportunities. Ease in acquiring approved credit from the consortium’s available funds is another detail growing businesses could leverage.

Advantages for Premium Companies in the consortium:

Similar to small and medium-sized companies, premium companies can accelerate their growth with higher efficiency. Premium companies can acquire investments from around the world, which would be a challenge in the present unregulated market. The consortium will present enormous marketing opportunities with significantly low costs compared to the current system.

How can Diamante Blockchain Consortium help invigorate the diamond market?

Diamonds are no longer exclusive to the elite as more and more consumers from the middle-income group view them as an alternative investment option if not simply as ornaments to add to their jewelry collection. However, the current generation is also conscious of the human cost in some regions of sourcing rough diamonds and even the proliferation of fake diamonds sold at the originals’ price. According to a survey, 66% of the diamond consumers were willing to spend more on sustainable and ethically sourced gems. Unfortunately, in the absence of an adequate system to verify, validate, and guarantee diamonds’ authenticity, low-value counterfeits often leaked into the supply chain. This compromised the demand for diamonds in the market.

Blockchain changed the game with the transparency and accountability it brought to the diamond industry, consequently boosting trust in the market. The decentralized distributed nature of the technology works on a consensus system that makes it near impossible to hack into the record of transactions and valuable data stored in the shared ledger. The details of the transactions in each stage of the supply chain are validated by smart contracts and free from manipulation and bias.

Chirag Jetani, COO of Diamante Blockchain, explains, “Diamante Blockchain Consortium participants can trade internally and have access to a vast consumer platform through a unified market place. Payments settle between trade participants through P2P technology that will provide a much quicker payment facility at a lower transaction cost in both national and global markets.” Transactions will be made using DIAM – the native digital asset of Diamante Net. Each DIAM is assigned a unique coded identity, which allows a user to track its movement anywhere within the network, thus preventing fraud. The Diamante Blockchain Consortium ensures that its members are authentic via a thorough KYC procedure. It complies with AML and USA Patriot Act to establish a secure ecosystem for diamond traders.

About Diamante Blockchain:

Diamante Blockchain LLC, the USA-based diamond consortium, is your one-stop destination if you are looking for result based diamond supply chain management. The consortium provides a unified marketplace for players across the diamond industry – from mining companies to cutters, polishers, certifiers, manufacturers, retailers, and end-customers. Built on Distributed Ledger Technology, Diamante Blockchain Consortium promises its clients and members complete transparency, assured quality, and cost-effectiveness in trade and transactions within its network.

The Diamante Consortium makes for an ecosystem where its members can obtain a line of credit with ease. It provides a first-of-its-kind marketplace for the Gem and Jewelry industry where trade is established through smart contracts. The consortium operates in compliance with Kimberly Certified norms, Anti-money laundering (AML), and USA Patriot Act.

Diamante Blockchain Consortium uses DIAM – its native digital asset – to carry out transactions and trade in its blockchain network.

Source: Original

Diamante Corporate Payment Is Set To Ramp Up The Security Of The Existing Online Transaction System

Blockchain payment systems are simplifying and increasing the efficiency of online transactions and Diamante Corporate Payment is set to bring about this change in the diamond industry

Although still a nascent technology, Blockchain has made remarkable improvements in the area of online transactions across industries. Its significance can be felt strongly in the diamond industry, where trust between trade participants is of utmost priority.

Diamante Blockchain Consortium – one of the first platforms to incorporate distributed ledger technology to soon create a unified marketplace for diamond industry participants – has taken another step towards revolutionizing its sector’s operations. It is set to launch Diamante Corporate Payment to secure and transparent online transactions within the blockchain network.

Features of Diamante Corporate Payment:

The Diamante Corporate Payment built on blockchain is exactly what the diamond industry needs to boost market demand. Chirag Jetani, COO of Diamante Blockchain, explains, “While diamantaires are increasingly moving or expanding their business to online platforms, the trust consumers have on the reliability of online payment platforms has a lot of catching up to do. This is mainly because of the piling instances of cybercrimes that result in misappropriation of funds and identity theft.” 
Diamante Corporate Payment settles transactions using its high performing native digital asset, DIAM.

The automation of Diamante Corporate Payment has several benefits, such as: 

  • Online Purchase Order and Invoice creation and exchange
  • Sharing of Trade and Shipping documents securely through encryption
  • It digitizes the end-to-end trade process and unites all involved parties on a single network to drastically cut down processing time.
  • Manage working capital efficiently through live tracking of an account balance
  • Real-time reconciliation and information sharing with other parties on the network
  • Automate critical business processes through smart contracts
  • Protect your data through encryption and blockchain immutability 

Benefits of Blockchain to online transactions:

Blockchain is being increasingly adopted across industries for its lending transparency and security to records of transactions for auditing in the future. The following the other three advantages that blockchain brings in:

1. Economizing Time –

It facilitates direct interaction between trade participants and replaces the need to rely on intermediaries. Incorporating third parties’ services such as lawyers, red tape, logistics agents, and banks prolong the processing time and bring down productivity. Payments made using Diamante Corporate Payment and cryptocurrency products are made in a fraction of the time taken by the traditional process of settling payments.

2. Reduces Costs by Eliminating Third Parties –

External agents that are relied upon to authenticate transactions elongate the process while charging high fees for their service. This makes the overall process unnecessarily expensive. This Blockchain-based Corporate remittance product automates business processes with smart contracts replace. As a result, costs are cut, but the scope of errors incumbent to manual processing of vast volumes of data is eliminated. Additionally, cost-reduction could increase the profits of the industry by a wide margin.

3. Increases accountability –

Transactions in the diamond industry involve trade in extremely precious commodities prone to moving in and out of the supply chain by illegal means. The lack of transparency and traceability in the existing system is responsible for this conundrum. The immutable shared ledger of blockchain records and traces the diamonds’ movement in real-time throughout the supply chain, thus validating its authenticity. The cryptocurrencies used to make these transactions possess a unique digital identity that can track their whereabouts within the blockchain network traceable, preventing fraud.

About Diamante Blockchain:

Diamante Blockchain LLC, the USA-based diamond consortium, is your one-stop destination if you are looking for result based diamond supply chain management. The consortium provides a unified marketplace for players across the diamond industry – from mining companies to cutters, polishers, certifiers, manufacturers, retailers, and end-customers. Built on Distributed Ledger Technology, Diamante Blockchain Consortium promises its clients and members complete transparency, assured quality, and cost-effectiveness in trade and transactions within its network.

The Diamante Consortium makes for an ecosystem where its members can obtain a line of credit with ease. It provides a first-of-its-kind marketplace for the Gem and Jewelry industry where trade is established through smart contracts. The consortium operates in compliance with Kimberly Certified norms, Anti-money laundering (AML), and USA Patriot Act.

Diamante Blockchain Consortium uses DIAM – its native digital asset – to carry out transactions and trade in its blockchain network.

Source:https://www.benzinga.com/pressreleases/19/04/r13507194/diamante-corporate-payment-is-set-to-ramp-up-the-security-of-the-existing-online-transaction-syste

Diamante And DMG Productions To Bring Focus On Blockchain In The Diamond Industry

Diamante Blockchain Consortium set to launch into mainstream media with a DMG Productions collaboration.

Diamante Blockchain Consortium – a pioneer in incorporating Distributed Ledger Technology in supply chain management in the diamond industry – is all set to conglomerate a wider audience’s attention through collaboration with DMG Productions. The project will hit the floor in the first quarter of 2019, and the segment is speculated to be broadcast in the second quarter via CNBC.

Blockchain is a technology that has been making waves across various industries, finding a strong footing in finance, insurance, online gaming, automobile manufacture, and trade sectors. By implementing blockchain to build its infrastructure, Diamante has made the diamond industry the next big sector to see this innovation play a significant role in its operations. The decentralized, digital ledger is extensively utilized to manage supply chains and value chains in the gem and jewelry industry. In the diamond industry, specifically, it has helped instill trust in and authenticate the source of diamonds, which are often mined illegally in civil conflict areas. Blockchain has made provenance tracking of precious stones more efficient, reducing the scope of the fraud.

With Diamante Consortium, blockchain has ventured beyond providing just transparency in the supply chain and created a secure ecosystem for trade and transaction, validated by smart contracts. Members of the consortium are positioned to enjoy several benefits, such as acquiring a credit line by simpler methods and the opportunity to network with potential buyers, sellers, and partners in a unified marketplace. It executes transactions in its blockchain network using DIAM –its native digital asset.

Diamante’s collaboration with DMG Productions is a benchmark in its roadmap, indicating the growing popularity of the diamond consortium. The award-winning producers behind Advancements with Ted Danson will focus on advances in technology in the diamond industry. The Advancements series is an information-based educational show that brings recent advances across numerous industries and economies. Its goal is to spread awareness on cutting-edge developments with the vision to enlighten about how technology and innovation continue to transform our world.

About Diamante Blockchain Consortium

Diamante Blockchain LLC, the USA-based diamond consortium, is your one-stop destination if you are looking for result based diamond supply chain management. The consortium provides a unified marketplace for players across the diamond industry – from mining companies to cutters, polishers, certifiers, manufacturers, retailers, and end-customers. Built on Distributed Ledger Technology, Diamante Blockchain Consortium promises its clients and members complete transparency, assured quality, and cost-effectiveness in trade and transactions within its network.

The Diamante Consortium makes for an ecosystem where its members can obtain a line of credit with ease. It provides a first-of-its-kind marketplace for the Gem and Jewelry industry where trade is established through smart contracts. The consortium operates in compliance with Kimberly Certified norms, Anti-money laundering (AML), and USA Patriot Act.

Diamante Blockchain Consortium uses DIAM – its native digital asset – to carry out transactions and trade in its blockchain network.

Source:http://www.prweb.com/releases/diamante_and_dmg_productions_to_bring_focus_on_blockchain_in_the_diamond_industry/prweb16061215.htm

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