Pure Diamond Farm Singapore to hold ICO to Fund Its Diamond Business with Blockchain Technology
Singapore, 15th August 2018 – Pure Diamond Farm Singapore will be holding Initial Coin Offering (ICO) by end of the year to fund its made-in-Japan laboratory-grown diamond business using blockchain technology.
Pure Diamond Farm team have succeeded in generating lab-grown diamonds led by Pure Diamond Lab Co. Ltd., a production and Research & Development firm in Japan.
“Our state-of-the-art manufacturing and research facilities of lab-grown diamond have developed a technique to produce rare diamond including colour diamond such as red diamond, blue diamond and rainbow diamond,” said Hideyuki Abe, the president of Pure Diamond Lab Co., Ltd., the first lab-grown diamond maker in Japan.
Pure Diamond Lab Co. Ltd. will utilise blockchain technology to store and trace the data of each lab-grown diamond such as its origin, certificate, date and time of creation.
“Since thousands of years ago, jewellery diamonds have been reigning over the social status and market of jewellery industry. The global market size of jewellery diamond is about USD 80 billion. 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 that is associated with the physical lab-grown diamond and is distributed through the Pure Diamond Coin network. Hence, unless the value of diamond declines, the token value will not depreciate,” he added.
“We aim to use Pure Diamond Coin in the real world to make transactions in the supply chain. This means Pure Diamond Coin can be distributed in the diamond market and be utilised to purchase everyday products,” he said.
Pure Diamond Farm Singapore will conduct presale 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.
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