PURE DIAMOND COIN
The Pure Diamond Coin (PDC) is the token based on the Pure Diamond Network Blockchain and creates a tokenomy for users of the product. It allows holders to purchase a lab-grown diamond on the Pure Diamond network and can be used for settlement, with market prices decided by secondary markets.
The effectiveness of this approach comes into play when realising that lab-grown diamond and coin can both be exchanged and traded in their own markets. The transparency of the transactions can also be ensured due to the use of blockchain technology. The team has also implemented technology that ensures the reliability of diamond of Pure Diamond Network. Due to this, and the immutable nature of the blockchain, risks like purchasing fakes can be minimised.
PDC generally creates a token economy around the Pure Diamond product. More than being used on the Pure Diamond Network, PDC can also be used as a mode of settlement for goods and services throughout the network. Interestingly, Pure Diamond Coin is meant to also be used in real-life transactions.
Pure Diamond Coin can be traded through a decentralised exchange platform offered by Pure Diamond themselves. At the Pure Diamond Exchange, lab-grown diamonds and tokens can be exchanged with each other. This exchange aims to grow into one where token holders can buy lab-grown diamonds and exchange fiat or cryptocurrency with another token holder. PDC is issued in concurrence with the value of a real diamond, allowing for a more stable value than traditional cryptocurrencies. Added to this, every diamond manufactured by Pure Diamond Farm is individually inscribed, with PDC generated on the Pure Diamond Network.
PURE DIAMOND NETWORK
Pure Diamond Network uses blockchain and implements an encrypted peer-to-peer network. This makes the network decentralised, thus removing its dependence on the central control management approach. This also makes it possible to communicate and distribute non-falsified information.
The team behind the Pure Diamond project also plans to implement an Artificial Intelligence assessment system. This will be used in conjunction with an evaluation system. Moreover, the team aims to develop applications that enable verification of the Pure Diamond product and PDC.
It is notable that the Pure Diamond Network will move away from the Ethereum network soon after its launch, due to issues with high fees and scalability. This means that Pure Diamond Network will exist on its own blockchain, allowing for a more free approach to developing the blockchain.
Pure Diamond’s team has implemented a variety of technologies that are most appropriate for the properties of the Pure Diamond Network. These features were discovered by studying blockchains worldwide. The team also had the freedom to develop and build an original recognition algorithm that will calculate a physical amount of Pure Diamond in existence, and assign value to them based on a variety of factors.
