For almost a decade now cryptocurrencies are part of the world’s economy, since year 2009 when Bitcoin was introduced to us, a lot has changed. Nowadays there are more than 1580 cryptocurrencies, more than 11 220 markets and the market cap has reached $254 040 853 775, with a daily volume of $15 353 947 239. Due to the rapid development in the last two years Bitcoins dominance has decreased to 41.7%.
Bitcoin and Ethereum are the two dominant cryptocurrencies, but their prices are very volatile, which is good for speculations, but hinders its wide adoption in long term. This is where the stable coins come in to the game. Stable coins are a class of cryptocurrencies that seek to maintain price stability with respect to a value indicator. The value indicator is typically the USD.
One of the main purposes of Diamond Network Project is to solve the volatility problems, using blockchain technology, in order to create a new type of cryptocurrency – stable coin, where each issued coin will be secured by a diamond of 0.05 carat.
Diamond Network is a complex long term project served in an understandable and simple manner; the research showed that the concept of a stable coins is clear to most people, but only seldom understand the described technology behind the existing stable coins. If you are a tech geek, please follow our Github and Reddit accounts, or contact us to find out more about the technical solutions.
This Project covers the whole diamond industry needs and services, digitalizing them step by step. The project will be executed in 4 Phases and have 2 tokens for sale – one utility token and one security token (stable coin).
Cdiamondcoin Ltd provides a platform through which 4 services will be available: Diamond origin verific tion service;
Digital Diamond database;
a CDC stable coin;
The utility token called DPT
Diamond Platform Token, gives access to the platform and its services; DPT will also be used to pay the fees for the services. DPT is a subject of ICO.
The standardized security token called CDC
which stands for Certified Diamond Coin is equal to 0. 5 cts of diamond. CDC is a hybrid token: security token + payment token; fulfils the ole of reserve currency and stable coin. CDC is considered a derivative, it underlies the Financial Market Regulations and the Anti-Money Laundering act. Diamond Network will release the token only after acquiring the License. It is also important to mention that a Charity
Trust Fund will be established, to invest in the development of the diamond origin countries, like South Africa and India.