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Alternative Market Briefing

Diamond Standard aims to make diamonds a tradable commodity

Friday, May 10, 2019

Bailey McCann, Opalesque New York:

What if you could trade in physical diamond bars the way you trade gold or other precious metals? Diamond Standard, a new company from former quant trader Cormac Kinney, has created the first diamond bar and diamond bar exchange in an effort to add diamonds to commodities portfolios. Opalesque sat down with Kinney during the SALT Conference currently underway in Las Vegas.

Diamond Standard has created and issues diamond coins and bars made up of diamonds of various quality that add up to a fixed geological weight. The diamonds are fully verified and traceable, and the coins and bars also include an encrypted blockchain token which provides tracking for each individual coin or bar. "We've created a fully trustless system, wherein each component can be independently verified and trading is managed over a fully transparent exchange," Kinney explains.

The bars are already approved for use by commodity ETFs, where they will join other precious metals and commodity assets. A futures market is forthcoming as soon as the spot market is fully available for traders.

Importantly, the bars only include naturally harvested diamonds - not the lab grown variety. Kinney explains that naturally occurring diamonds have a finite supply and a specific geological density. The infrastructure of the diamond market also tracks them, verifies them, and assigns a quality level. The infrastructure of the diamond market is what allows diamonds to ......................

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