Diamante Blockchain Foundation Enters Mainstream Media With CNBC

Diamante Blockchain Foundation and the fast-growing blockchain diamond consortium it operates is the focus of an upcoming segment of Advancements television series, airing via CNBC.

Blockchain technology has found a fairground in the diamond industry to push the boundaries of its capabilities. One of the most interesting ways for this to unfold has been creating consortia dedicated to bringing in more transparency and efficiency into this centuries-old sector. While the novelty of blockchain still has some holding their reservations about its performance, forward-thinking enterprises, such as Diamante, have already dipped their toe in exploring its advantages. Diamante Blockchain Foundation, the non-profit wing of Diamante Group LLC, is set to take the Diamante Blockchain story to a wider audience with CNBC and DMG Productions.

Being one of the first of its kind, Diamante Blockchain’s journey till now and its way forward is the focus of the interview organized by DMG Productions. The episode was recently shot in New York, the USA, and India, one of the world’s top-ranking diamond hubs. The segment will delve into the core ideas behind the project, as explained by the team members. Dinesh Patel (CEO of Diamante Blockchain), Chirag Jetani (Chief Operating Officer), Erik A Jens (Ex- ABN AMRO CEO & Chief Financial Expert), and Raj Chowdhury (MD of HashCash Consultants and Chief Technology Architect of Diamante) will be speaking on topics ranging from the structure of Diamante Blockchain, and the potential of blockchain and future payment services in the diamond industry, and its plans of expansion. The interview will be broadcast on an upcoming episode of Advancements via CNBC.

Diamante Foundation is a part of Diamante Consortium, a non-profit open-source platform dedicated to bringing transparency and accountability to the diamond industry. It will provide a unified marketplace for diamond companies of every size and scale. Diamante Foundation will operate on Diamante NET, a state of the art blockchain network. Transactions and trade can be carried out within this highly secure network using DIAM, the native digital asset of Diamante NET. Overall, a blockchain-based system would revolutionize supply chain management.

Diamante is compliant with the Kimberly Certified norms, Anti-money laundering (AML) regulations, and the USA Patriot Act. This set of rules aims to mitigate the circulation of conflict diamonds and the generation of income by illegal means. Speaking from New York, Eric A. Jens said, “The diamond industry has struggled to maintain authentic and accurate records about the source and provenance of diamonds. As technology progresses, it is also becoming increasingly difficult to identify lab-grown diamonds from natural-mined diamonds. Now, the industry is looking to the blockchain to solve these issues.”

Since the diamond industry spans worldwide, Advancements’ global coverage via CNBC is ideal for informing about blockchain diamond consortium to a wider audience. The network has a strong presence in the U.S., Asia Pacific, Europe, Middle East, and Africa. It is a world leader in business news and is watched in more than 409 million homes worldwide, including more than 91 million households in the United States and Canada.

In the USA alone, 22.84% of the number of people assessed are those aged 18 to 29, and 30-49 years make up approximately 33%. The first group is socially aware and highly dependent on technology with a natural penchant for distributed ledger technology. The second group comprises seasoned professionals who are looking to improve outdated company infrastructures. The Collaboration between Diamante and DMG Productions is bound to excite both parties.

About Diamante Blockchain Foundation:

Diamante Blockchain LLC, the USA-based diamond foundation, is your one-stop destination if you are looking for result based diamond supply chain management. The foundation 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 Foundation promises its clients and members complete transparency, assured quality, and cost-effectiveness in trade and transactions within its network.

The Diamante Foundation 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 foundation operates in compliance with Kimberly Certified norms, Anti-money laundering (AML), and USA Patriot Act.

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

Source:http://www.prweb.com/releases/diamante_blockchain_foundation_enters_mainstream_media_with_cnbc/prweb16179744.htm

Diamante Blockchain Authenticates Ownership And Credibility Of Diamonds

Diamante Consortium provides a healthy marketplace for diamond certifiers to enhance their reach in the industry.

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 its native asset, DIAM, to bring trade-in diamonds one step closer to encrypted digitization. This evolution aims to mitigate some of the challenges afflicting the diamond industry.

Benefits of participation in Diamante Blockchain Consortium:

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, and set in jewelry in Hong Kong and the USA. Finally, it would be sold worldwide 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. Altogether, the process could span days, costing investors millions of dollars. 
Transferring operations such as tracking the gems’ movement on a supply chain, keeping a tab on exchanging documents, and verifying transactions on a blockchain have their benefits. A decentralized, immutable digital ledger would provide the industry with reliability and accountability, which is till now lacking. The Diamante blockchain network will see participation from different diamond sectors, including mining companies, manufacturers, retailers, and end customers.

Employing cryptocurrency also circumvents the tedious and time-consuming process of dealing with the standard payment model that goes 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. Additionally, the elimination of the need for intermediaries and agents makes the process low on cost.

Incentivized participation:

Since it is not easy to convince traditionally conservative players to adopt new technology, the switch to the blockchain platform will be incentivized. Participants of the diamond consortium will be able to purchase and trade with DIAM and create and list their own crypto coins on Diamante’s global cryptocurrency exchange. The consequence of this would be an enhancement of 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.

Although there is much to hope for regulation in cryptocurrency, the traders at Diamante will be allotted 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.

Way forward for blockchain in the diamond industry:

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.

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://markets.businessinsider.com/news/stocks/diamante-blockchain-authenticates-ownership-and-credibility-of-diamonds-1027924786

HashCash Collaborates With Diamante To Battle The Circulation Of Blood Diamond

Rising demand for ethically sourced diamonds has industry stalwarts incorporating blockchain for increased transparency in tracking gemstones

It is not every day that the storyline of a Hollywood movie outshines the actors starring in it, especially if they are of the caliber of DeCaprio. But such was the case with Blood Diamond, a film that made a chunk of the thinking population cringe at the sight of their engagement ring.

The issue highlighted in the motion picture – that of illegally mined diamonds, farmed at the cost of human life, ethics, and everything one holds moral – unfortunately still thrives. Administrations, civil societies, and industry stalwarts the world over have been working in conjunction to reduce the flow of blood diamonds, or conflict diamonds, as they are also called. However, the consortiums, and the strategies they had to implement to achieve this goal, have time and again failed to live up to their expectations, leaving something to desire.

For a technology like blockchain to gain traction like this has been seen by many as an answer to people’s prayers for ethical diamond mining. A game-changer in itself, blockchain is a decentralized ledger used widely to record any transaction type but has utilizations much beyond banking and finance. Automobile industries, pharmaceuticals, climate change councils, medical research – almost every sector is sprinting to blockchain to find new-age solutions to their age-old problems.

The promise of blockchain in regulating the diamond mining industry is immense. From the point of digging up a piece of pressurized carbon till it is encrusted on a platinum ring and sitting on an oligarch’s index finger – the bracket in which fraud can occur is a wide one. Now imagine a system – backed by highly sophisticated computer encryption and bereft of any threat of being tampered with – exists to record each step of the process. It follows the tiniest rock across the globe, from its point of discovery to cutting, then polishing, embedding, wholesale, and retail and only those with verified permission can add data to the blockchain database. The transparency it would provide in the entire supply chain would be a massive blow to the operations of rebel factions and militia that survive off the human cost of blood diamonds.

Not all heroes wear capes, they say. Stepping up to the occasion are some proactive software development companies working tirelessly to innovate foolproof solutions to get around the problem of human exploitation, which has become a scour for the jewelry industry. De Beers and Fura Gems have already taken steps to incorporate advanced technology into their operations. California-based software development company, HashCash, has come into the news for collaborating with Diamante to augment and fortify a system to track every registered gem’s movement accurately. This move has been received well by company players concerned by the growing demand for ethically sourced jewelry by customers.

Source:https://www.benzinga.com/pressreleases/18/11/r12729426/hashcash-collaborates-with-diamante-to-battle-the-circulation-of-blood

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