Diamond Standard, Inc.
| File:Diamond Standard Logo.png | |
| Private | |
| ISIN | 🆔 |
| Industry | E-commerce |
| Founded 📆 | 2018 |
| Founder 👔 | Cormac Kinney (CEO & Founder) |
| Headquarters 🏙️ | , , USA |
Area served 🗺️ | Worldwide |
| Products 📟 | Diamond Standard Coin, Diamond Standard Bar, Bitcarbon token |
| Members | |
Number of employees | |
| 🌐 Website | diamondstandard |
| 📇 Address | |
| 📞 telephone | |
Diamond Standard is the producer of the first fungible natural diamond commodity,[1][2] which, like gold is delivered in a standardized coin or bar.[3][unreliable source?]
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, [4][self-published source?] is stored on a public blockchain.[5][6][unreliable source] The chip also stores a blockchain token, which enables digital transactions for the commodity.[7][unreliable source] This token, called a Bitcarbon, can be traded like Bitcoin, or be used asset-back any digital contract or currency.[8][unreliable source] The clients are institutional investors and individuals, and the token is issued under license from the Bermuda Monetary Authority.[9][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.[10][unreliable source]
To supply the commodity, the company formed an electronic loose diamond exchange, the Diamond Standard Exchange,[10][unreliable source] to increase supply-chain efficiency and transparency. It is member owned, overseen by the BMA.[11][unreliable source?] All diamonds contained in the commodity are priced and acquired via bidding bid on this regulated exchange.[12][unreliable source?][13][self-published source?] The company was founded in New York City and has offices in Hamilton, Bermuda,[14][self-published source?] the domicile of its regulator.[12][self-published source?]
History
Founder Cormac Kinney is a software designer and serial entrepreneur, whose inventions have been cited in nearly than 4,000 patents,[15][unreliable source] including several related to diamond commodities, exchange and wireless technologies.[16][non-primary source needed] He raised over $500 million for eight startups, five of which have been acquired by public companies.[17][irrelevant citation]
Diamond Standard, and the Bitcarbon token, is one of the first services to launch under Bermuda's newly enacted Digital Asset Business Act. [18][irrelevant citation][19]
References
- ↑ 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.
- ↑ 10.0 10.1 "Diamond Standard Launches Blockchain-Powered Token Backed by Real Gems". Yahoo Finance. 2019-05-02.
- ↑ "Campbell Joins Bitcarbon & Diamond Standard". Bernews. 2019-05-14.
- ↑ 12.0 12.1 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".[permanent dead link]
- ↑ "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.
External links
This article "Diamond Standard" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Diamond Standard. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
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