Tag: Diamond Industry

Diamante Blockchain To Showcase At Newchip’s 2020 Q1 Startup Expo

LENEXA, KAN. JANUARY 27, 2020: Newchip’s 2020 Q1 Startup Expo, one of the most awaited events of the year, where Diamante Blockchain LLC will be a part of its investor showcase global summit. The Expo will take place from 27th to 31st January 2020 with Diamante being slotted for 28th January, 1.50 PM (CDT).

Sharing his enthusiasm, Mr. Chirag Jetani, Co-Founder & COO of Diamante commented,

Newchip has the most decorated and comprehensive accelerator program catering to startups all over the world. The Expo is a grand stage for businesses spearheading the tech revolution across different verticals through their innovative approach and projects. We are excited to be a part of this showcase and to share our vision on Blockchain and Fintech for the diamond industry.

The Newchip Startup Expo Week – What You Need to Know

“Newchip has the most decorated and comprehensive accelerator program catering to startups all over the world. The Expo is a grand stage for businesses spearheading the tech revolution across different verticals through their innovative approach and projects. We are excited to be a part of this showcase and to share our vision on Blockchain and Fintech for the diamond industry.”

Through this outstanding initiative, Newchip acts as a bridge to connect innovative start-ups doing ground-breaking work in respective fields with investors, who have displayed their intent of supporting these pioneering achievements.
It is one of the biggest platforms that a start-up can utilize to showcase their work and vision. The Newchip Expo invites all kinds of investors starting from the ones holding an investment fund or Angel Network to an Angel or Solo investor.

About Diamante Blockchain:

Diamante is a fintech company that focuses on leveraging blockchain technology to create a dedicated, universal diamond ecosystem, ensuring full security and establishing concrete trust in, for trade, payments, financing, and controls. Diamante seeks to provide its clients and members with an effective and entrusted supply chain management system that is the epitome of consistency, security, and cost-effectiveness throughout the value chain.

Diamante Blockchain LLC, the USA-based diamond consortium comprises of every part of the industry from mining to retail. Built on Distributed Ledger Technology, Diamante Blockchain Consortium promises authenticity, assured quality, and privacy in trade and transactions within its network.

Source: markets.businessinsider.com/news/stocks/diamante-blockchain-to-showcase-at-newchip-s-2020-q1-startup-expo-1028846844

Diamante Blockchain Meet Highlights the Spectrum of Opportunities of Blockchain in Diamond Industry

Diamante Blockchain hosted the Diamante Meets 2019 to discuss Spectrum of Opportunities in Mumbai introducing the revolutionary Diamante consortium to Banks, Industry leaders, and stakeholders. The seminar shed light on the future of the diamond industry through the utilization of blockchain technology.

Counterfeits, conflict or blood diamonds, minimal documentation, and murky transactions are some of the major problems plaguing the centuries-old diamond industry. Issues related to the traceability of diamonds and other loopholes in the manufacturing and trading affect the global diamond industry.

However, things are looking on the brighter side with the advent of blockchain technology. The Distributed Ledger Technology (DLT) is a chance to bring more traceability and order in the diamond trade. Diamante Blockchain has been spearheading that cause for quite some time now. Taking a step ahead towards that goal, the diamond blockchain consortium hosted an August seminar at the Golconda Ballroom of Hotel Trident BKC, Mumbai. The seminar brought together representatives from banks, industry leaders, and stakeholders under one roof and introduced them to the revolutionary Diamante Consortium.

Diamante Meets 2019

The initiative “Diamante Meets 2019: Facing the Future – Together” was organized according to Genesis Block, USA, and HashCash Consultants (California, USA). Chirag Jetani (Chief Operating Officer), Erik A Jens (Ex- ABN AMRO CEO & Chief Financial Expert), Samuel E Proctor (Chief Regulatory Advisor), Raj Chowdhury (CEO of HashCash Consultants and Banking & Blockchain Advisor at Diamante Blockchain), Prasanna Lohar (DCB Bank) and Mr. Sudhin from SBI were the key speakers who shared their insight on the basic structure of Diamante Consortium, and the potential of blockchain and its future in the diamond industry.

“Technology and innovation go hand in hand and also helps a lot in the sustainability of an industry going forward,” said Erik A Jens.

According to the Chief Regulatory Officer of Diamante, Samuel E Proctor, “Fintech is going to make the diamond industry better by making the business move faster, move cheaper, and make things more transparent, which is a win for everybody involved.”

The event aimed to present a blockchain solution into the present corporate payment structure and line of credit model.

Diamante Blockchain – Corporate Payments

Let’s take a quick look at what Diamante Blockchain offers to the industry, using decentralized ledger technology.

The Diamond industry is spread across continents, making business complex and time-consuming. Going by the traditional modes of cross-border payments, the money goes through various exchanges, making it very hard to trace. That can be solved by DLT, which is a digital system that records the details of every transaction happening in real-time and keeps all the parties involved in the loop about the movement. There is zero involvement of any central authority, as all transaction happens and is recorded independently by the participants or the nodes in a network.

Diamante Blockchain has launched a B2B corporate payment network that allows hassle-free cross border transfer of funds. The transaction happens faster and a fraction of the cost that is usually charged by the banks and exchanges. It also makes it easy to track the payment, thus preventing any act of fraud.

The seminar gave a brief insight on the whole process and the benefits of Diamante’s corporate pay. It was an absolute success, considering the phenomenal response it received from all the attendees.

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. Diamante provides a secure ecosystem for network participants to make online payments and obtain a credit line with ease. Together, Diamante’s expanding body of specialized services creates 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 promises its clients and members complete traceability, assured quality, and cost-effectiveness in trade and transactions within its network.

The first-of-its-kind marketplace for the Gem and Jewelry industry enables trade through smart contracts. The consortium operates in compliance with Kimberly Certified norms, Anti-money laundering (AML), and the USA Patriot Act.

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

Diamante Blockchain Set To Expand Its Consortium To Antwerp

Diamante Blockchain Consortium provides a platform to the world’s top diamond hub, bringing transparency and enhanced accountability to the industry.

Antwerp is one of the top diamond hubs globally, generating an annual economic turnover that exceeds $54 billion. Home to over a thousand diamond companies, Antwerp’s diamond industry is implementing blockchain technology to bring greater accountability and transparency to the sector. This trend sees many of these enterprises join Diamante Blockchain Consortium – the fastest-growing diamond consortium in the present day.

Belgian Diamond Industry Overview

The Belgian diamond industry is concentrated within a section of Antwerp called the Square Mile. There are currently over 380 workshops in this area that provide services to over 1,500 companies. They are joined by 3,500 merchants, brokers, and cutters who support the Belgian diamond industry. Approximately 84% of the rough diamonds mined around the world each year make their way through Antwerp.

However, a declining trend in polished diamonds has been noted in the past five years. For example, in 2017, $22.5 billion worth of polished diamonds amounting to 10.7 million carats were traded from the Antwerp diamond market. This number was made up of export of 5.6 million carats of polished diamonds and import of 5.1 million carats of the same, valued at $11.1 billion and $11.4 billion respectively. Although the amount seems quite large, compared to 2016, it actually indicates an overall slump of 7% in volume and 3% in value.

Problems facing the Antwerp Diamond Industry

Despite the noteworthy revenue raked in, Antwerp diamonds have a marred reputation that makes the Antwerp diamond exchange not a very trustworthy source to purchase diamonds from. This is attributed to the plethora of disreputable and unethical business practices that could end up scamming consumers. This reputation is also recognized as one reason that has led to a sharp drop in the export of polished diamonds from the Belgian diamond industry. This decline is most apparent from 8.4 million polished carats exported in 2011 to much less 5 million carats in 2017.

Diamante Blockchain Consortium instills trust in the Antwerp diamond industry.

Antwerp’s leading diamond enterprises have recognized the massive potential of blockchain technology to bring transparency to the diamond industry. They have viewed participation in the Diamante Blockchain Consortium as the quickest way to implement it. The consortium – built on distributed ledger technology – enables the provenance tracking of diamonds and provides details of each registered diamond, including its center of cutting, polishing, certification, and retail sale.

The blockchain network prevents fraudulent activities by keeping a permanent record of all the transactions within the network, validated by smart contracts. Confidential data relating to this consortium’s various clients and members are also protected in this tamper-proof ledger.

Diamante Consortium has set high standards in its ethical concern determined by the decentralized nature of the underlying technology. It also complies with Kimberly Certified norms, Anti-money laundering (AML) regulations, and the USA Patriot Act to guarantee every diamond’s authenticity in its network.

The future of blockchain in Belgium is bright, evinced by the recently organized blockchain summit in Brussels. The country is gearing up to implement the technological innovation across industries, and the diamond industry is clearly one that stands to benefit most from it.

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:https://www.benzinga.com/pressreleases/19/01/r13013634/diamante-blockchain-set-to-expand-its-consortium-to-antwerp

Diamante Blockchain Diversifies Trade In Diamond With Cryptocurrency And Blockchain

Diamante’s plan to introduce digitized assets into the global diamond exchange promises to revolutionize trade in the gem.

The gem and jewelry industry is one of the oldest globally, and diamonds are probably the most coveted precious stones in the market. However, the sector has been mainly run on not-very-transparent traditional ways and sustained by backroom handshakes. Marked by minimal documentation, these two traits have presented diamonds as a favored vehicle for financing crime and laundering money. Diamante – a global diamond consortium powered by blockchain technology –is ready to launch their native asset, DIAM, to bring trade-in diamonds one step closer to encrypted digitization to mitigate some of the challenges afflicting the diamond industry.

The process of producing a diamond – be it gem-quality or the sort suited more to industrial purposes – sees the rough stone extensively travel from one part of the planet to another, with multiple stops in between. It could be sourced in Canada, Australia, Russia, Botswana and South Africa, stop to be cut and polished in India, Israel and China, set in jewelry in Hong Kong and the USA, and finally be sold all over the world to contribute to a market worth 80 billion dollars. The trade-in diamond is, in a nutshell, global.

This brings into the equation a voluminous change of hands in currency, documentation, verification, and money transfers through traditional institutions. Together, the process could span days, costing investors millions of dollars.

Transferring the operations such as tracking the gems’ movement on a supply chain, keeping a tab on the exchange of documents and verifications of transactions on a decentralized, immutable digital ledger would provide the industry with reliability and accountability, which is till now lacking. The Diamante Blockchain network sees participation from different diamond sectors – including mining companies, manufacturers, retailers, and end customers.

Since it is not easy to convince traditionally conservative players to adopt new technology, the switch is incentivized. Participants of the diamond consortium will be able to purchase and trade with DIAM, create and list their own crypto coins on Diamante’s global cryptocurrency exchange, and therefore enhance the profitability of their involvement in the diamond industry. The very practice of trading in cryptocurrency brings new energy into the market while visibly reducing the opaqueness attached to it.

Employing cryptocurrency also circumvents the tedious and time-consuming process of dealing with the standard mode of payment through multiple stages of processing and regulations in banks. Diamond consortiums like Diamante attract investors because payments made on a blockchain network using cryptocurrency are much quicker. Because of the elimination of intermediaries and agents, low on cost. 
Although there is much to hope for regulation in the realm of cryptocurrency, the traders at Diamante are given a digital wallet and listed after thorough due diligence and stringent vetting. This covers KYC stages, verification of adherence to AML laws, and the Kimberly Process.

The diamond industry is fraught with challenges, and the introduction of a decentralized, immutable, easy to access blockchain ledger can address most of them. Simultaneously, cryptocurrency and its trade on exchanges such as the one provided by Diamante invigorate the diamond market, bringing in more investment without having to buy and sell diamonds themselves.

Source:https://markets.businessinsider.com/news/stocks/diamante-blockchain-diversifies-trade-in-diamond-with-cryptocurrency-and-blockchain-1027678984

Stay Connected

Email verificationX
Email verificationX