Do Pure Diamond Coins and Lab-Grown Diamonds Show Promise?
The Future of Lab-Grown Diamonds
Firstly, let us think about the future of lab-grown diamonds and its link to Pure Diamond Coins. Although the world’s largest diamond trading company such as Swarovski and De Beers have stuck to natural diamonds, they have also announced that they will begin handling lab-grown diamonds. Some American jewellery shops have already been handling both natural and lab-grown diamonds.
Resolving The Issues with Natural Diamonds
The sparkle of natural diamonds is as blinding as the problems that it has brought along with it to the market, such as environmental issues, labor concerns, and conflicts problems. Lab-grown diamonds have the potential to solve these issues. Turning to environmental problems firstly, it is possible to have to drill more than 1 ton of earth and sand in order to mine a meagre 1 gram of high-quality natural diamonds. As such, it requires a substantial amount of energy to extract the diamonds in order to match its equally huge demand. As a result, it raises concerns about the adverse effects of using such methods on soil and water resources. Furthermore, the holes made in the earth are often left unburied (as it would not be financially beneficial to do so), making it dangerous to make any effective use of that land. Lab-grown diamonds are generated in the factory, and thus causing much less damage to the environment.
Natural diamonds are often mined in developing countries, and the poor working environment in which local people (including women and children) work is also regarded as a problem. Mining labor is highly likely to be harmful and those working there are prone to accidents. The US Department of Labor published statistics which reported that forced labor and child labor take place in six African countries. Such forms of abuse are not found in the creation of lab-grown diamonds.
As for conflict problems, until now, it is said that disputes in various parts of Africa such as Angola (the civil war between 1992-2002) and Côte d’Ivoire (the civil war between 2002-2007) were lengthened because of diamond resources. Among them, the most famous conflict was the civil war in Sierra Leone which occurred between 1991-2002. This conflict was lengthened by the desires of overseas organisations, who wanted to acquire diamonds by smuggling them, seeking weapons support as well as providing military training to rebel factions. Lab-grown diamonds do not extend such miserable wars, and it will also be immediately apparent if it was smuggled thanks to blockchain technology.
The Demand for Unknown Diamonds
By combining lab-grown diamonds with blockchain technology, the value of information is added. There is consequently no risk of fraud. The identification codes of lab-grown diamonds are of a size so small that it can only be seen through a loupe, and blockchain technology allows for the cross-referencing of information with an application. Such information includes data such as the diamonds’ birthdate, birthplace, composition, cut information, appraisal information, and more. This also makes it possible to purchase diamonds born on the same day as the day of the recipient of the jewel. It makes for a perfect gift for women and newborn children.
Additionally, one of the attractions of lab-grown diamonds is that it is possible to generate rare red diamonds which can be produced naturally, and rainbow-coloured diamonds which cannot be produced naturally. The market for fancy-coloured diamonds is growing, and the inexpensive and affordable lab-grown diamonds will assist its growth even further.
There are perhaps people who still reluctant to accept diamonds that are created in a factory. However, aquaculture tuna and farmed eels, both of which are not naturally produced, have already established a solid position in their respective markets. We are eager to visit famous sushi chefs and eel craftsmen. Furthermore, blue roses do not naturally exist in the natural world, but through development it is now a very popular item in demand. Lab-grown diamonds will arouse the demand for unknown diamonds that are not found naturally.
Young People Wearing Diamonds - A New Era
Until now, diamonds are expensive and difficult to obtain. Especially for young people who have not much economic power, diamonds have been considered as the “flower of Takamine”. There are many people who cannot acquire it even though they desire it. However, lab-grown diamonds are produced in a factory and cost half the price of natural diamonds. As a result, young people who have previously not been able to purchase diamonds can now easily obtain (lab-grown) diamonds. However, lab-grown diamonds are not as good-looking as natural diamonds as impurities are not included, but 98% of natural diamonds contain impurities, with the remaining 2% being traded at higher prices.
The Future of Pure Diamond Coins
Let us now consider the future of Pure Diamond Coins. It is evident that the value of Pure Diamond Coins is collateralised by lab-grown diamonds. Pure Diamond Coins are a type of the so-called asset-backed type virtual currency.
Because it is a form of currency secured by real, tangible lab-grown diamonds, the value of the currency remains the same unless the value of the diamond falls. Therefore, the risk of Pure Diamond Coins collapsing is low.
This is similar to the mechanism of currencies in other countries. Previously, fiat currency as a legal tender in each country was tied to the value of gold, and governments issued money according to the amount already held. However, the amount of gold each country holds is limited. As the size of a country’s economy increases, the amount of the fiat currency that serves as the country’s legal tender would subsequently run short. As a result, the country’s legal currency becomes secured by the credit rating of each country, and its currency is issued regardless of the amount of money actually held. Ideally, the legal currency is also secured in value by a tangible item such as gold (as its value is considered more secure than “invisible” credit). In other words, it can be said that Pure Diamond Coins actually realise the ideal currency system.
The value of Pure Diamond Coins is being secured in this way as it aims to not only become a prevalent product in the diamond market, but also to become a practical item to be used by members of society. In the future, there will be enough Pure Diamond Coins to be available for eating and drinking, and purchasing goods.
Pure Diamond Coins and Lab-Grown Diamond Produce Sufficient Possibilities
What were your thoughts?
The value of Pure Diamond Coins are secured by lab-grown diamonds, and in my opinion, it has become clear that there is a clear possibility of disseminating them to be used in society in the future. Lab-grown diamonds will be able to solve the problems brought by natural diamonds, and it is expected that they will incite a new wave of demand for diamonds.
To whoever feels like giving Pure Diamond Coins a chance – why not buy it? To purchase Pure Diamond Coins, you are able to use Bitcoins, Bitcoin cash, Ethereum, and Ethereum classic.
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