Pure Diamond Farm Seeks a US$200 Million ICO to Bring Lab-Grown Diamonds to Marketby Company Announcent August 30, 2018
Pure Diamond Farm Singapore will be holding an Initial Coin Offering (ICO) to fund its Japan-made, lab-grown diamond business, in which each diamond will be verifiable on blockchain technology.
Pure Diamond Farm has discovered how to generate lab-grown diamonds in a research that was led by Pure Diamond Lab Co. Ltd., a production and R&D firm in Japan. As of today, they are the first lab-grown diamond maker in the nation.
“Our state-of-the-art manufacturing and research facilities have allowed us to create lab-grown diamonds. Furthermore, we have developed a technique to produce diamonds in colours that would otherwise be rare, such as the red diamond, blue diamond, and rainbow diamond,”
said Hideyuki Abe, the president of Pure Diamond Lab.
Pure Diamond Lab Co. Ltd. will utilise blockchain technology to store and trace the data of each lab-grown diamond. Customers would be able to look up information such its origin, certificate, as well as the exact date and time of creation.
“Since thousands of years ago, jewellery diamonds have reigned over both someone’s social status, and the jewellery industry. The global market size for jewellery diamonds is now about USD80 billion. In addition, the synthetic diamond market for industrial use amounts to about USD 16.2 billion worldwide,”
said Chris Yang, the president of Pure Diamond Farm Singapore.
“Pure Diamond Farm Singapore will introduce its cryptocurrency, Pure Diamond Coin (PDC) that will backed with physical lab-grown diamonds and distributed through the Pure Diamond Coin network. Hence, unless the value of diamond declines, the token’s value will not depreciate,”
“We also aim to bring the Pure Diamond Coin into the real world for people to make transactions in the diamond supply chain. This means that there is a possibility that Pure Diamond Coins will be distributed beyond just the diamond market, and can be utilised to purchase everyday products,”
Pure Diamond Farm will conduct pre-sales for Pure Diamond Coin from 1st – 25th September 2018, followed by Phase 1 from 5th – 20th October 2018 and Phase 2 from 1st – 15th November 2018.
More information on the company, diamonds and coin can be found here.
Disclaimer: this is an article written by Pure Diamond Farm, Fintechnews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. Fintechnews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Please note this is no investment advice.
Featured Image Credit: Pure Diamond Farm