As reported in the official press release of May 23, the two largest diamond corporations have started cooperation with D1 Mint Limited, a company operating in the field of Blockchain. The goal of cooperation is the tokenization of diamonds.
D1 Mint Limited has developed a special D1 Coin token, used in the diamond industry. The company acquired 1,500 investment diamonds worth $ 20 million. Diamonds were purchased from KGK Diamonds, which received stones from the diamond mining company Alrosa.
A member of Alrosa’s Board of Directors noted that the company views Blockchain’s technology as an opportunity to change the diamond industry by transforming diamonds into a variety of investment assets that will be available to a wider range of investors.
According to the reports, the diamond industry is experiencing stagnant demand while the industry has not changed for the past three years (about $ 80 billion per year).
As it became known, D1 Company establishes the value of its tokens, based on market prices for diamonds, which will allow investors at any time to use coins to purchase precious stones or withdraw to the currency. Also, the cost will be based on industry-specific parameters such as shape, carat, clarity and more.
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