Diamonds4crypto (https://www.diamonds4crypto.com/) is the first business solely accepting cryptocurrencies for diamonds, founder Jonathan Kendall, a well-respected former senior executive of De Beers Group, tells Jewellery Outlook Editor David Brough.
What is diamonds4crypto?
Diamonds4crypto is a new online business providing high quality, ethically sourced diamonds that consumers can purchase using a number of cryptocurrencies.
What type of customer does the platform serve?
The platform serves only cryptocurrency owners so it is focused on delivering these consumers excellent diamonds, at very competitive prices with the addition of an NFT (non-fungible token) to go with the diamond if the consumer prefers. This means that the consumer has a record of the journey of the diamond from source through manufacturing.
What makes the business unique and groundbreaking?
It is the first business in the diamond industry to focus on selling to the crypto community …a world first. It is also the first business solely accepting cryptos in exchange for diamonds.
What type of diamonds are offered by the platform, and what is their quality? Is the supply chain responsibly managed?
The diamonds are of excellent quality sourced from top manufacturers who are De Beers Sightholders. Every diamond is selected to meet our stringent standards: for example, we look at every diamond to assess where it sits within a grade.
We take only the diamonds that in our graders’ opinion are in the highest quartile of each grade. Put simply, if someone purchases an F colour diamond it will be a top end F colour nearer to D rather than one that sits at the bottom of the grade, closer to G .
Payment is accepted in which currencies? Why crypto? Are there plans to add further types of cryptocurrency in future?
Currently we accept Bitcoin, Etherium, Trueusd, Usdc, Digibyte, Ravencoin, Dogecoin, Litecoin, and Vertcoin.
We will look to add new coins as demanded by customers.
We believe crypto will build alongside fiat currencies and become more mainstream.
Although the current headlines are somewhat negative towards crypto and as such impacting their values, the adoption levels are increasing exponentially and the news behind crypto is one of immense growth and development.
We believe many cryptos will rise in value in the coming years and we also believe as they become more mainstream consumers will start to use them regularly to purchase products whether on an ongoing daily basis for consumables or on a less regular basis for luxuries.