World-first Cryptocurrency covered by Polished Diamonds and Gold Bullions.
Diamonds for or thousands of years, they have been believed to bring good luck (and bad luck!) health, wealth, and protection against most of the ills that can befall mankind. They are also a multi-billion dollar business, although compared to the gold business, the diamond industry is small. The worldwide retail market for diamond jewelry was $60 billion in 2010. Like the gold business, the diamond business is segmented into several groups:
- Miners and producers, who mine rough diamonds, then sort and sell them.
- Cutters and polishers: those who buy rough diamonds from the producers, then cut and polish.
- Jewelry manufacturers who create finished pieces.
- Retailers who sell the finished jewelry to consumers.
The global diamond market for new polished diamonds is estimated at approx. $65-$70B and is seen as plateauing and leveling. Meanwhile, the recycling market for diamonds is seen growing to 1/3 of the diamond supply year over year to 2025, with approx. $8-$9B of recycled diamonds coming into the market. This includes inherited, estate and engagement rings from divorcees. Beyond the engagement ring, diamonds have entered into mainstream jewelry categories as everyday wearable designs that are fun, casual, and fashionable. Women, who are in control of their choices and rewarding themselves personally, are increasingly buying jewelry for themselves. Diamond jewelry continues to rank within the top three gifts that woman prefer to receive. But what’s changed is who is buying it: and the trend seems to point in the direction of self-gifting, and friend to friend, sister to sister gifting. And thus, marketers are shifting their focus from male to female consumers.