How Mining Diamonds Can Bring Upside to the Crypto Markets

iCoin (editorial team)
Jul 28 · 5 min read
iCoin International at https://icoin.ws

Since they were discovered in the Indian Archipelago about 2500 years ago, diamonds have been a symbol of love and beauty, of purity and innocence… a symbol indicative of a child’s perfection in its newness; of the way we were born into the world before it all began. Would it be surprising, though, if you learnt that diamonds have been in existence for about a billion years before they were discovered? Most likely not.

Flawless crystals made of pure Carbon, diamonds are the hardest objects humanity has any knowledge of (being the only known substance with a hardness of 10 on the Mohs’ Hardness Scale).

Diamonds possess metaphysical properties, as they’re believed to bring good luck and a positive change of fortune to owners. Diamonds are also capable of unlocking the flow of your spiritual energy by filling up negative spaces with the positivity of pure love.

Because of their high refractive index (it reflects light rays in a special way) and hardness, diamonds have always held considerable value since their discovery. These priceless gemstones were first traded on the Silk Road, an ancient trade network between China and the West.

It was generally believed that diamonds existed only in India, with the Indian diamond industry peaking in the 1700s and afterwards, mining activity reduced drastically. That changed two centuries ago, when the rest of the world started to make strong moves in diamond exploration.

Before long, several significant diamond deposits were randomly discovered in Africa ― specifically the banks of the Orange River in Southern Africa ― which sparked a rush of hordes of diamond miners to the region. After much research, an 83.5-carat diamond was discovered in 1871 and the host rock (a type of pipe rock known as kimberlite) was identified. This discovery led to the opening of the first large-scale mining operation known as the Kimberley Mine in South Africa. The increased mining activity eventually created what came to be known as the Big Hole; it increased the world’s diamond supply substantially, with many more mines opening in Africa and around the world as a result of a continuously growing global demand.

As you may have known, everything about diamonds is enchanting: their appearance, properties, value, composition, history, and we could talk about them for the rest of this article.

We will however not attempt to do so, as it would contradict the purpose of the article: the potential impact of diamond mining on the cryptocurrency and ― equally important ― blockchain space.

Blockchain technology attained mainstream status in 2017, when the price of Bitcoin recorded an all-time high of about $20,000 USD. Before then, cryptocurrencies remained in relative obscurity, evidenced by the popular ‘Bitcoin Pizza’ story.

Millennium Mining Corporation is a company set up in Sierra Leone out of a strong need to provide individuals seeking a significant ROI with solid investment possibilities in the diamond mining industry. The disruptive potential of blockchain technology in the materials industry is already well-established, with several blockchain-based companies doing well in the space.

Blockchain can bring huge benefits to industrial companies such as Millennium Mining, with features such as decentralization, high level of security, transparency and immutability paving the way for collaborative mining, traceability, and secure payments.

A decentralized platform which is trusted by the diamond industry along with cryptocurrency investors would increase the potential for massive disruption. This would be achieved by seamlessly implementing distributed ledger technology (DLT) to drive an efficient connected industry by utilizing blockchain, artificial intelligence, and state-of-the-art security and privacy standards.

Millennium Mining Corp. has a green mining policy aimed at mitigating or eliminating the negative impact of mining operations on the environment.

Crowdsale Using the IEO Model

In an IPO, an investor receives shares of a company’s stock in exchange for their investment. In the case of an ICO, there are no shares to speak of. Instead, crowd-sale participants will be provided with a blockchain equivalent as a store of value: a token.

The company will be launching an initial exchange offering (IEO) with the main goal being to enable collaborative mining and extraction of diamonds. Running an IEO will make it possible to obtain the necessary equipment (and workforce) needed for the operation to run at full swing.

The ownership of MMC will be held by the members of the IEO team. By doing this, participants in the IEO can play a big role in writing history with Millennium Mining Corp and still get a sizeable part of the company’s revenue ― a win-win.

ICOIN tokens will be distributed instantly after the crowdsale is completed. You will then be able to trade or withdraw your tokens.

Here’s a quick rundown of the token offering:

The total supply is 600 million IXN, with a minimum purchase of 100 IXN per address. The soft cap is 3.5 million tokens, while the hard cap is much higher at 10 million ICOIN. The token emission price is 1 USD per token, and you’re entitled to a bonus between 1–25% of the total supply. BTC, ETH and USD are accepted for token purchases.

iCoin International Token, ICOIN

The iCoin International token (ticker: ICOIN) was created in order to fund the operations of the company. ICOIN is a token compatible with the ERC20 token standard. This implies that it inherits features like real-time balance monitoring, transfer between token holders and approval, thus increasing security, facilitating integration and boosting adoption.

ICOIN token serves two main purposes: trading, exchange and purchase.

1. Trading: Because ICOIN tokens are created on the Ethereum blockchain, they can be transferred at any time to another ERC20 compatible wallet. Trading ICOIN tokens is not managed by Millennium Mining Corp and as such, the company has no control whatsoever on the post-IEO trading activities. Also, ICOIN could be listed on cryptocurrency exchanges later on.

2. Exchange: IEO participants can exchange their tokens for USD with Millennium Mining Corp. at the current market rate after a period of one year from the offering.

3. Purchase: ICOIN token is an accepted payment method in purchasing Millennium Mining Corp. diamond products on the website store.

While some might argue that blockchain technology still remains a relatively new innovation, the potential for positive disruption is as clear as day. Mining has been nothing but a mere buzzword in the blockchain space; our goal is to bring back the true meaning of the word by implementing DLT ― it is time!

🆕 iCoin International IEO platform: http://bit.ly/2OTmfdM

Learn more about iCoin International

References

https://www.sunnyray.org/Meaning-of-diamonds.htm

https://www.jewelsforme.com/diamond-meaning

https://www.researchgate.net/publication/282181005_Diamond_exploration_in_India_Retrospect_and_prospect

http://www.botswanadiamonds.co.uk/diamonds/diamond-exploration

https://www.geologyforinvestors.com/search-diamonds-introduction-kimberlite-exploration/

iCoin International

Investing in real diamond mining and using the proceeds to create a competitive market for iCoin International

iCoin (editorial team)

Written by

Investing in real diamond mining and using the proceeds to create a competitive market for iCoin International

iCoin International

Investing in real diamond mining and using the proceeds to create a competitive market for iCoin International

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