How Do Pure Diamond Coins and Lab-Grown Diamonds Work?
How Do Pure Diamond Coins Work?
This system connects real lab-growndiamonds with a blockchain network, the distribution is then carried out by thetoken. By creating real lab-grown diamonds and distributing Pure Diamnd Coins(PDC) associated or ‘pegged’ to that diamond, the real laboratory growndiamonds are traded in the market and the PDC will be exchanged in theirrespective markets. Since the token is tied to the real lab-grown diamonds, thevalue of the token itself will not drop unless the value of the lab-grown diamonds depreciate. In otherwords, lab-grown diamonds and PDC is a diagram of the legal currency and thereal thing called laboratory grown diamondswill be developed as a realistic economy that integrates the physical world anddigital together.
For lab-grown diamonds, we introduce blockchain technology and implemented technologies to guarantee the reliability of the diamond itself. This will allow consumers to see the information of the lab-grow diamonds through it’s digital profile, such as the location of the product, cultivation date colour and quality. This increases transparency of the transactions and will be able to minimise the risk of fraud.
The system was originally built on the Etherium network and the first wave of tokens have been planned to be hosted onthis network. However, progressing from this, PDC aims to move away from the original Etherium network and pushes to develop an original blockchain because of the transaction processing fee and scalability issues. PDC has researched about blockchains around the world and incorporated the most appropriate and new technologies from various other developers. The development of the original blockchain, that is, to be able to construct the original authorised algorithm, it is possible to realise the reality of the image that allocates the revenue by the holding amount of the real lab-grown Diamonds.
Lab Grown Diamonds
Conflict and Labour Issues
In developing countries such as the Democratic Republic of Congo (DRC), diamonds are mined during a time of conflict, and it plagues the industry with ‘blood diamonds’ as the global demand puts pressure on countries such as DRC to produce more. ‘Blood Diamonds’ are used to procure enormous wealth to fund the ongoing conflicts in the warring states. Often miners which include women and children are forced to mine under extremely dangerous circumstances in mines.
Lab-grown diamonds are cultivated inside a controlled facility, and therefore nullify the need for physical mining. Moreover the lab-grown diamonds are directly distributed within the PureDiamond Blockchain Network via PDC, allowing the end consumers to know when the diamond was cultivated and where the diamond has been, bringing much needed transparency. In the long-run when adopted globally, an optimistic perspective can be adopted where the Pure Diamond Blockchain Network will inhibit the demand and distribution of ‘blood diamonds’ in its entirety, resolving many conflict and labour issues in the process.
The diamond industry has always been plagued with unsustainable and unethical mining issues. Countries such as Russia and the Botswana are facing emission issues and harmful impacts to water sources as the trend of diamond output is showing signs of decrease.
Asides from emission and supply problems, in most cases large holes are left into thegeography of the landscape as mining for diamonds requires large excavations sites to beerected. These holes are left unfilled afterwards as corporations do not see any financial benefitin doing so, thus the landscape and the environment is often left in a ruined state.
With lab-grown diamonds, it solves the issues of emissions and sustainability by producing a consistent output with lower energy consumption and it protects the landscape because it does not actually require excavating.
Rare Colour Diamonds
Lab-grown diamonds can also be coloured during the production process.You can also produce rainbow diamonds, and diamonds of varying colours in the specturm, which are extremely rare to find. In addition, lab-grown diamonds are characterised by the price being traded at half the price of their than natural counterparts. Lab-grown diamonds offers consumers with more choice at a cheaper price, thus opening up the Jewellery market to more people and making quality jewellery more affordable.
Purchasing Pure Diamond Coins
As you can clearly see, the operating mechanism behind Pure-Diamond Coins and lab-grown diamonds is relatively easy to understand. The association of a cryptocurrency with it's valuation 'tied to' a real asset has many pragmatic advantages, such as the stability of price and a steady increase in value over time as more of the real assets are produced.
If you are interested in Pure Diamond Coins, please click the link below to find out more or purchase PDC for yourself.