The Future of the Virtual Currency “Pure Diamond Coin”
Outline of PDC
※1: The maximum number of issuance of all PDCs is set as the issuing limit by adding 150% of the tokens to the total number of token sale participation applications at the end of the ICO.
ICO Sales Schedule
65% of the funds procured through presale etc. will be invested infacilities for generating lab-grown diamonds.
Detailed basic information of PDCs can be found below.
PDC Project Structure and Efforts
PDCs use blockchains for building diamond networks. Unlikeconventional diamonds, we will build a Pure Diamond network by introducingblockchain technology. Because the token itself is tied to the existence of areal, physical and tangible diamond, the diamonds play the role of a dollarbill.
Currently, diamonds are treated as being very valuable, and their value is kept because of their scarcity. By introducing blockchain technology to guarantee the reliability of diamonds, this is a project with the goal to increase transparency in trading.
Currently, diamond is kept at a constant value because of its rarity. The PDC is an asset-backed type of virtual currency, the value of which is secured by real lab-grown diamonds.
The Collateral System for Pure Diamond Coins
The PDC essentially clips together tangible, physical lab-grown diamonds and the virtual currency by using blockchain technology. More specifically, by distributing lab-grown diamonds using the currency, information on PDCs and information on the lab-grown diamonds are bound together. This is known as “traceability”. In other words, as long as the value of the lab-grown diamonds does not fall, the value of the PDC will also retain its value. Therefore, the lab-grown diamond is pegged to the PDC. The statutory currency scheme is established; the virtual currency and the tangible diamonds are tied together. Where (blockchain) technology and a physical, tangible object (such as lab-grown diamonds) merge, an economy based on this can only expand.
For lab-grown diamonds, we are introducing and implementing blockchain technology, to guarantee the reliability of the jewel. This allows for the visualisation of information of the diamonds, such as its location of generation, generation date, colour, and so on. The transparency of trading will therefore also rise, while the risk of encountering counterfeits, and fraud also decreases.
This system was originally designed as a network on the Ethernet and was scheduled to be implemented as a distributed application. However, the processing of the transaction, fees, and scalability problems occurred, so we decided to develop the original blockchains instead. We will continue to study blockchains around the world and incorporate the latest and most appropriate technologies from wherever they are found. By developing the original blockchain, it becomes possible to construct the original approval algorithm, in turn making it possible to allocate revenue to lab-grown diamonds depending on its holding volume.
Structure: Lab Grown Diamonds
Resolution of Conflict Problems
Currently, natural diamonds are mined in developing countries with unstable political climates. Because these countries are developing countries, there is constant conflict over diamonds. Indeed, the jewels have led to massive conflicts in the past, such as the African War and the Sierra Leon Civil War, in which many people had lost their lives. In the United States, a boycott movement is taking place due to such conflicts over diamonds; which begs the question, why did disputes over diamonds break out in the first place?
The reason is that diamonds cannot be excavated stably, and the amount of diamonds that can be supplied is minuscule and equally unstable. However, lab-grown diamonds can be supplied in a stable and constant manner and will not cause any conflicts. Hence, the problems relating to conflict can be resolved by realising a stable supply of lab-grown diamonds.
Solving the Issue of Contamination of Soil and Water Resources
Natural diamonds cause large-scale destruction of nature when they are being mined. Although it is said that destruction is merely natural, one cannot dig up a diamond without digging a crater bigger than that which the meteorite caused. Please see the below pictures.
This is the consequence of excavating diamonds in a certain country. Since the trees around it have been cut down, it becomes very difficult to restore the environment once such vast amounts of digging had been conducted. If left as it is, this may lead to soil contamination.
It clearly seems that diamonds are only able to be excavated from the earth by digging a gargantuan hole in the earth. Notice how the difficulty of mining diamonds is connected to its rarity, and that its value corresponds to its rarity.
The Creation of Coloured Diamonds
Lab-grown diamonds have been successful in being coloured during the process of production. Blue coloured diamonds can also be found naturally, but in terms of its price, one carat will not result in tens of millions of dollars. Red diamonds are not too rare and are even circulated in general markets, but they are only traded among some millionaires. Therefore, even diamond experts have not seen such naturally occurring coloured diamonds.
However, lab-grown diamonds have successfully been coloured during its production. This result has been achieved consistently and stably; not just once. There used to be days when coloured diamonds were only a luxury that only some millionaires were privileged enough to possess – until now.
In addition, it seems that it is possible to create rainbow-coloured lab-grown diamonds. Such diamonds have never been found naturally before. Although this currently appears to be in the research stage, there is certainly an enough prospect of success, so it can be expected to exist in the future.
Furthermore, one particular feature of lab-grown diamonds is that they are traded at half the price of natural diamonds. The dissemination of lab-grown diamonds will be a very happy and positive thing for those who have not yet been able to purchase expensive, natural diamonds, and or those who have wanted diamonds in other, rarer colours.
Confirmation on ICO | PDC Roadmap
- PURE DIAMOND Network System design.
- Designing of digital asset system with PDC token.
- PURE DIAMOND TYPE-0 – start of shipment of raw ore by existing facilities.
- PURE DIAMOND – ordering of manufacturing equipment.
- Development of the original blockchain/PURE DIAMOND Network System 1.00.
- DEX Exchange, Pure Diamond Exchange – Development.
- PD wallet development.
- Settlement system development with the PDC token.
- Development of digital asset application using the PDC token.
- PURE DIAMOND TYPE-0 – cut; and the beginning of sales following polishing.
- PURE DIAMOND TYPE-0 – presentation at the Jewellery Exhibition.
- Land to be secured for the PURE DIAMOND manufacturing factory.
- Opening of DEX Exchange, Pure Diamond Exchange.
- Release of fancy diamond (coloured diamonds) prototype.
- Transition to original blockchain PURE DIAMOND Network System 1.00.
- PD wallet distribution.
- PURE DIAMOND manufacturing factory completed.
- Research for the development of rare diamonds (red, rainbow, etc.) to begin.
- PURE DIAMOND commences trial operation at the manufacturing plant.
- DEX Exchange Pure Diamond.
- Introduction of payment system with the PDC token.
- Digital asset application introduced with PDA toast.
- PURE DIAMOND manufacturing factory in operation.
- PURE DIAMOND shipment.
- PURE DIAMOND to start selling.
- PURE DIAMOND Network System 2.00 – update.
- Digital asset application – update with the PDA token.
- PD wallet – update.
Introduction to the PDC Team Members
I would now like to briefly introduce the team members of the PDC project.
PureDiamond Laboratory Inc. Representative Director.
2001– Assumed office as an adviser in South Korea’s SAMSUNG Group Open Tide Japan,SAMUSANG MPEON ASIA.
2007– Assumed office as an advisor in Dalian Brotherhood Chorus Co., Ltd.
2012– Inaugurated as an advisor.
2015– Assumed office as an Officially Authorized Agent in Chia Tai Group (Member ofC. P. Group). Inaugurated as Siam Partners Representative Director (currentposition).
2016– Established as Otobotoke Corporation Representative Director (currentposition).
2018– Inauguration as a director of 21 Lady (current position).
2018– Established Pure Diamond Lab Co., Ltd. and assumed office as RepresentativeDirector and Producer.
2008 – Graduated from Kanagawa University, Graduate School of Science and Computer Science.
2008 – Joined Tomei Diamond Co., Ltd.
2011 – President and Representative Director of Tomei Diamond Co., Ltd.
2017 – Established Nippon Armas Industry Co., Ltd., serving as President and Representative Director of Armas Industrial Co., Ltd.
2018 – Established Pure Diamond Lab Co., Ltd. and assumed office as President and Representative Director.
1990 – Served as a distributor for Sarin Technologies Ltd. in Japan.
1993 – Appointed President and Representative Director of AP Co., Ltd.
2004 – Established Le Chocolat Du Diamant Co., Ltd.
2006 – Inaugurated as the corporate auditor of MediaSeek Co., Ltd.
2013 – Opened the "AFRICA DIAMONDS Roppongi Hills Store"; inaugurated as the corporate auditor of DD Holdings (current position); served as a distributor for HRD Antwerp Equipment in Japan.
2014 – Inauguration as director of the Shootboxing Association.
2017 – Appointment as the Diamonds & Antwerp Ambassador at Belgium’s AWDC.
2017 – Established Pure Diamond Co., Ltd.
2000 – Joined AP Co., Ltd.
2004 – Inaugurated as the General Manager of Sarine Technologies Ltd. in Japan.
2008 – Inaugurated as the PR Manager of Le-Chocolat Du Diamant PR Manager, Inc.
2010 – Launched a new brand as the Brand Manager for "AFRICA DIAMONDS".
2013 – Inaugurated as the Japanese agent of the General Manager of HRD Antwerp Equipment.
2017 – Inaugurated as Senior Managing Director of Pure Diamond.
2018 – Held a seminar on synthetic diamonds at the Kobe International Jewellery Exhibition.
Born in 1991.
Kawasaki has a developmental disorder and is conscious of the problem that he lives in “a society where people with developmental disabilities cannot fully utilize the talent they possess.” Going to high school did not appeal to him as he could not see the meaning of it, so he began working as an engineer at the age of 15. He experienced launching multiple IT startup ventures such as Tokyo Otaku Mode, as well as doing business sales, working as an officer, and more. More recently, he acted as the COO at AMATELUS Inc. (USA), a Web 3D/VR (Virtual Reality) venture. After his departure, he began on his life’s work to “create a society where people with developmental disabilities can play an active part” in their lives.
Graduatedfrom Nanyang Institute of Technology's Information Systems Department.
Lead Developer of Southeast Asia's largest gaming company, Garena.
Chris began his journey into the world of blockchain technology in 2013.
Considering the Future
It is important to ascertain the future growth of the ICO. Although PDCs and lab-grown diamonds is said to be rather innovative, I would like to focus on a few key points on their prospects of success.
The Future of Lab Grown Diamonds
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. In other words, the diamond trading companies, which have so far sided with natural diamonds and denied the credibility of lab-grown diamonds, have now acknowledged that lab-grown diamonds are equivalent to diamonds. But why have Swarovski and De Beers done so?
Only 2% of Diamonds That Exists Are Pure
Currently, it is estimated that there are 7 tons of diamonds in the world; however, only 2% among that is considered “pure”. A pure diamond is a “diamond that does not contain impurities”. On the other hand, lab-grown diamonds are “pure” diamonds that contain no impurities. There are many people who do not have diamonds like this at the moment; how long would it take to excavate enough pure diamonds for them to be satisfied? Only lab-grown diamonds can make this possible.
Ikebana Industry Example
Considering the Ikebana industry, as an example, it will be evident that the value of lab-grown diamonds does not decrease. Currently, blue flowers are traded at a very high price in the Ikebana industry. But think about it – do blue roses occur naturally on this planet? The correct answer is one answered in the negative. Currently, the blue roses traded in the Ikebana industry are all roses created artificially by technology. These blue roses are now accepted by the industry and are traded at high prices, though in the beginning, it was rejected from the Ikebana industry. Yet, its beauty was gradually accepted and has become the phenomenon that it is today.
Would this not be the same in today’s diamond industry? The lab-grown diamond, burn as an innovative diamond, is being gradually accepted by the industry, though it still faces rejection from the industry. However, thanks to its acknowledgement by Swarovski and De Beers, the industry leaders, there will soon be a day when the lab-grown diamond is accepted across the entire industry.
A market is called a “blue rose” in the Ikebana industry if it is new and exploited by technology. Lab-grown diamonds will continue to make a big contribution to its establishment in the diamond industry, as well as the Ikebana industry.
The Future of PDCs
Next, allow us to consider the future of PDCs.
An Ideal System is Realised
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.
Virtual Currency is a New Form of Currency
The system relies on using so-called “old gold” as a collateral, though there are examples of it already being adopted in virtual currency. This system is a type that is asset-backed. This type of virtual currency is a new form of currency that guarantees its value with some form of “actual” currency.
As an example, there exists a virtual currency called “Pedro” from Venezuela. Its value is secured by petroleum. But can one say that the supply of oil, and therefore the currency’s value, is stable? As with diamonds, petroleum also needs to be obtained from underground and it is a limited resource that cannot be supplied indefinitely. Its price may also rise and fall severely.
On the other hand, lab-grown diamonds can be supplied stably and can maintain a certain value, as it has been explained above. This thus is why PDCs can be considered as a virtual currency of a new genre. Currently, PDCs is the only virtual currency whereby its value is guaranteed to be kept constant thanks to the stable supply of lab-grown diamonds.
Concerns Regarding PDCs Prospects
Ihave already explained the future of PDCs thus far, but are there really noconcerns of this virtual currency? I would now like to explore the shortcomingsof PDCs.
Arelab-grown diamonds not just the same as imitation diamonds? First, I would liketo explore the factual differences between lab-grown and imitation diamonds.
Incontrast to the fact that the ingredients contained in lab-grown diamonds areexactly the same as natural diamonds, the ingredients of imitation diamonds aredifferent. This is not a mistake; it is the result of continuous researchconducted by research institutions around the world. In addition, De Beers, thecompany which leads the world in diamond sales, also acknowledges the existenceof lab-grown diamonds and that it can be distinguished from imitation diamonds.In the future, it will become easier to distinguish between imitation diamondsand lab-grown diamonds, thanks to the introduction of blockchain technology.
The Opinion of Experts
Since lab-grown diamonds have adopted blockchain technology, information of lab-grown diamonds is recognised by experts and is the reason for its traceability. As a result, it is easy to distinguish lab-grown diamonds from imitation diamonds. In addition, it seems that in the future a dedicated application will allow users to check the information of a lab-grown diamond at any time.
Is There A Demand For Unknown Diamonds?
Although there are expectations for lab-grown diamonds, what kind of demand is there when they are actually being sold?
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.
Incidentally, 98% of natural diamonds contain impurities, but 100% of lab-grown diamonds do not. Surely, at this point, there is a demand for lab-grown diamonds.
In this article, I have compiled a wide range of PDC projects.
The scale of what we are trying to achieve is large, and it may be difficult to conceive, but I do believe this to be an innovative system. Although it is a project with long-term goals, lab-grown diamonds may well be spread all over the world in the not-so-distant future.
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Our official Twitter account will be sending PDC’s latest information in Japanese, so please also check there too.