Altcoin News

diamDEXX token pegged to Physical diamond

The Digital value economy

The markets have been significantly less volatile than a few months ago. Which has made the ecosystem steady for investors and users. These currencies are being used as a store of value for many people. As the economy grows, bitcoin and other cryptocurrencies will hold a limited and finite supply like diamond and other precious metals.

Many things can be achieved through the blockchain, like cryptocurrencies that can be used as a stablecoin for fiat-currency like Tether(USDT). As this kind of method could protect investors wealth, which also gives them a change to be able to exchange these tokens for any fiat-currency.

Inflation is one of the biggest threats in todays economy and is still a topic that is not being very discussed within the stablecoin community and creations. This process within the financial system can be seeing in an individuals wealth overtime.

As an example the USD is now worth 18.5% less today than it was a back in 2009. This means that a product with the cost of $10.000 in 2009 would now cost approximately $11,848.87 through a GDP analysis.

The global debt for the US for example is over $22 trillion as of February 2019. Which has pushed quantitative easing programs to become more relied on. Which brings the economy, instability and heading towards a collapsing course again. Inflation is a serious issue in todays economy, as it has devastated countries like Venezuela and its nation people.

The diamDEXX brings its own token

This platform will be giving individuals and investors the opportunity to purchase, own and if required to store real diamonds in a decentralised manner. The company is able to achieve this through the fractionalisation capabilities that can be done on the Blockchain protocol. Which gives an individual the possibility to own diamonds proportionate to what they can offered. This gives the token holder the chance to also be able to trade these tokens on the open market and can be done through the platforms transparent system.

Compared to Gold, the diamond market is much less volatile, while still having a finite supply that can be mined. Diamonds are used in the construction industry and crucial for the drilling of holes in hard and concrete surfaces.

For users that will be using the diamDEXX platform, they will have the option of purchasing diamond that are back by a stable token. The token will be represented by physical diamonds and audited by the IDEX (International Diamond Exchange). While also being fully regulated by the jurisdiction where the physical diamond vault is located.

Security of the token

According to the company, the tokens will be held securely in any diamDEXX wallet allowing for users to store their tokens in a decentralised way. If a user would like to sell their DIAM tokens, it will be able to be exchanged back into any alternative cryptocurrency. The user may also choose to exchange the tokens for the physical diamonds.

This has been one of the best thinks of the bitcoin technology, to be able to apply real world value into digital value. Tokens backed by things like diamond and gold is a great way to represent true store of value and the wide application of the blockchain technology in the economy.

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coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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