Diamond Standard, Inc.
|Founder 👔||Cormac Kinney (CEO & Founder)|
|Headquarters 🏙️||, |
New York City,
Area served 🗺️
|Products 📟||Diamond Standard Coin, Diamond Standard Bar, Bitcarbon token|
Number of employees
The coin and bar are physical, and each contains a standardized set of diamonds, graded and certified by the GIA, and an embedded wireless encryption chip. The provenance of the diamonds, sourced through transparent bidding on a regulated exchange, and proof of their aggregate scarcity, [self-published source?] is stored on a public blockchain.[unreliable source] The chip also stores a blockchain token, which enables digital transactions for the commodity.[unreliable source] This token, called a Bitcarbon, can be traded like Bitcoin, or be used asset-back any digital contract or currency.[unreliable source] The clients are institutional investors and individuals, and the token is issued under license from the Bermuda Monetary Authority.[unreliable source?] The authenticity and fairness of the diamond commodity is ensured by radical transparency regarding the contents, sourcing, and price discovery of the diamonds inside each commodity.[unreliable source]
To supply the commodity, the company formed an electronic loose diamond exchange, the Diamond Standard Exchange,[unreliable source] to increase supply-chain efficiency and transparency. It is member owned, overseen by the BMA.[unreliable source?] All diamonds contained in the commodity are priced and acquired via bidding bid on this regulated exchange.[unreliable source?][self-published source?] The company was founded in New York City and has offices in Hamilton, Bermuda,[self-published source?] the domicile of its regulator.[self-published source?]
Founder Cormac Kinney is a software designer and serial entrepreneur, whose inventions have been cited in nearly than 4,000 patents,[unreliable source] including several related to diamond commodities, exchange and wireless technologies.[non-primary source needed] He raised over $500 million for eight startups, five of which have been acquired by public companies.[irrelevant citation]
- Claman, Liz (2019-06-26). "Diamond Standard launches world's first fungible diamond commodity". Fox Business.
- Steel, Alix (2019-08-19). "The CEO Hoping to Turn Diamonds into gold". Bloomberg Commodities Edge.
- McCann, Bailey (2019-05-10). "Diamond Standard Launches Blockchain-Powered Token Backed by Real Gems". Opalesque.
- Kinney, Cormac (2019-06-28). "Making Diamonds A Credible Alternative Investment". ValueWalk.
- Roberts, Daniel (2019-08-02). "Diamond Standard backs precious gems with blockchain". Yahoo Finance.
- Rodriguez, Maria (2019-05-08). "Diamond Standard Will Use Blockchain Technology in Diamond Exchange". Crypto World Journal.
- "Diamond Standard launches blockchain-powered fungible diamond commodity". TokenPost. 2019-05-03.
- Dale, Brady (2019-05-02). "Diamond Standard Launches Blockchain-Powered Token Backed by Real Gems". Coindesk.
- "Diamond Standard launches fungible diamond commodity". HedgeWeek. 2019-03-05.
- "Diamond Standard Launches Blockchain-Powered Token Backed by Real Gems". Yahoo Finance. 2019-05-02.
- "Campbell Joins Bitcarbon & Diamond Standard". Bernews. 2019-05-14.
- Neil, Scott (2019-05-16). "Bitcarbon eyes May launch as orders roll in". Royal Gazette.
- Petallides, Nicole (2019-05-15). "Diamond Standard CEO Interviewed at NASDAQ". TD Ameritrade Network.
- Neill, Scott (2018-12-14). "New digital asset business seeks 16 staff". The Royal Gazette.
- "United States Patent Office Search".
- "U.S. Patent Number 20150223580".
- Feitelberg, Rosemary (2017-03-17). "Flont Strives to Shake Up High-End Jewelry With Sharing Model". Women's Wear Daily.
- "Premier Meets With Cormac Kinney Of Bitcarbon". Bernews. 2018-12-18.
- "Bitcarbon Company Lists Multiple Job Openings". Bernews. 2018-12-15.
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