Pure Diamond Farm Singapore is planning its Initial Coin Offering (ICO) for the creation and distribution of its Pure Diamond Coin. The ICO will be made at the end of the year and it will kickstart a new lab in Japan which will use the blockchain technology. This firm is focused on generating lab-grown diamonds, one of the first ones in the world to do that.
According to the president of the company, Hideyuki Abe, the state-of-the-art facilities of the company have the technology to create perfect diamonds and even colored ones, which cannot be found in nature. Red Diamonds, blue diamonds and even rainbow diamonds are created by the company.
The Blockchain Will Be Used To Store Data And Track Diamonds
The company will use the blockchain technology to store and trace the data of the diamonds, aspects such as the origin, certificate, date and time of creation and more will be stored on the blockchain for each diamond created by the company.
The president of Pure Diamond Farm Singapore, Chris Yang, believes that there is an $80 billion USD market for diamonds around the world. According to him,the synthetic diamond market will expand a lot in the future and get a share of this profitable market.
Pure Diamond Farm Singapore will use Pure Diamond Coin to connect the tokens with the diamonds created by this company. They will be fully supported by the value of the lab-grown diamonds and their value will not decrease unless the value of the diamonds is also depreciated.
The token will be used to make transactions in the supply chain and can be distributed in the diamond market to be used for purchases.
The Pure Diamond Coin ICO
According to the information released by the company, Pure Diamond Farm Singapore will start the pre-sale of the Pure Diamond Coin tokens during the month of September (1 to 25) and the first phase of the main sale will be done from October 5 to 20, with the second phase taking place from November 1 to 15.