In our previous reviews we described the current state of two markets that we treat as “two feet” of our DGems token: crypto and diamond. This time we try to combine both and provide forecast for the near future.
Diamond industry problems
Profits in diamond industry are shrinking or have disappeared at all: both mining and wholesale companies are facing a problem. It’s hard to find financing for diamond companies, since banks are abandoning the sector after being hit by frauds and bad loans. …
We open a series of publications to discuss the international diamond industry. The sector is full of myths and some of them are quite easy to dispel. We will start from the most general matters, production statistics being one of them.
Myth #1: There are too many diamonds produced
As Dr. A.J.A. Janse, an Australian diamond exploration consultant, notes in his GIA-vetted “Global rough diamond production since 1870” comprehensive study, diamonds from alluvial deposits have been known since antiquity, and production from primary deposits (kimberlites, and later lamproites since 1985) began only in the 1870s.
Dear DGems followers, this is one of the most important article of those explaining the insides of our project. Below we discuss in details all key aspects of token issues, diamonds purchases, and price and value determinations through those processes. Please help us find any weak spots or inconsistencies in the logic we built.
In every event of a token issue DGems will be using a very transparent and highly secure valuation and diamonds purchase procedure which will be based on a clear and straightforward algorithm and will be executed jointly with a number of reliable and trusted agents and…
This is a short follow-up to our article on DGems use cases published yesterday. Several of our long-term followers claimed that the US monetary supply is healthy enough and the US dollar is under no risk. We dare to say the opposite: everything is much worse than we carefully hinted.
Below is an extended chart that compares the United States M2 monetary supply and its annual GDP starting from late 1950s. For three decades their proportion was stable (and, in our view, completely sane). Early 1990s resulted in this rate going down which, again, looked reasonable: money is a means…
To remind you the basics: DGems is an ERC-20 token (potentially replicable on any blockchain we find convenient for the market changing needs) fully backed by investment quality diamonds stored in a vault.
Within the first year we expect to issue >$100mn worth of DGems tokens simultaneously depositing around 10,000 carats of fine cut diamonds, all of different shapes and sizes — that will be in a range of several thousands stones, depending on each stone actual size and value.
Each DGems holder will be entitled to a proportional part of this bulk of stones and will have an opportunity…
Facebook-inspired Libra Association has finally announced details of the Libra project. To know everything publicly available on Libra and actors around it, feel free to read this enormously detailed article by TechCrunch. We prepared a short review of the story and our take on it.
With this, we continue our series of discussions of DGems’ core product and operations. This chapter describes our approach to IT and cyber security, the most important area for any digital project.
We are well aware of many cases where security breaches or code loopholes caused material damage to investors and projects:
These multiple incidents brought two conclusion:
Yahoo Japan’s Taotao
The crypto universe is delivering more and more good news. Last week, we saw three big announcements that go hand in hand and confirm our positive long term view on the market.
Something to start with is Yahoo’s expansion into crypto trading. A new crypto exchange platform called Taotao in which Yahoo Japan owns a 40% stake is to launch tomorrow, May 30th after over a year in development. The remaining 60% are owned by CMD Lab Inc, a well established research/consulting firm which has its history going back to 2007.
Taotao will offer a rather standard…
A market move that should not pass unnoticed: the company called Flexa has partnered with Gemini to allow crypto use in more than 30,000 retail stores around the United States. This impressive number is of great importance, as historically there were little to no examples of big B2C chains actually using crypto.
This time the scheme is structured via Gemini Dollar which we believe has next to none risks in terms of regulation and (unlike Tether) has full transparency and good capital backing from Cameron and Tyler Winklevoss.
In March DGems’ blog featured a “Samsung goes crypto, who has to worry?” story making a deep review of Samsung’s S10 smartphone and diving into plenty of technicalities. Our efforts were not wasted as the Korean tech giant is moving further in that direction on full steam. Recently, media picked a leak that there are extensive works taking place inside the company on cooking what will be an Ethereum based blockchain. There are good chances that Samsung Coin will be issued, public and tradable.
The main source of the news is CoinDesk Korea report (in Korean) which, according to the…
Fully fiat free stablecoin 100% backed by diamonds. Highly secure and fully transparent emission mechanism. Comprehensive disclosure and audit.