CandleFocus Hedera News: Diamond Standard Revolutionizes Market with Tokenized Diamonds
2024-12-05
Author: Content Editor
Diamond Standard and Hedera are collaborating to tokenize diamonds and create fungible commodities on the Hedera network. By tokenizing diamonds, Diamond Standard aims to make the diamond market more accessible, transparent, and liquid. Diamonds are considered valuable assets but are under-allocated in investment portfolios. Investing in diamonds is complex and requires expertise, and they lack transparency and liquidity. By using Hedera's technology, Diamond Standard can ensure that each Diamond Commodity Token represents a physical diamond, allowing for easier buying and selling on digital asset exchanges. Hedera's capability to confirm over 10,000 transactions per second and low transaction costs were factors in choosing the network. Additionally, both Diamond Standard and Hedera have a strong commitment to environmental, social, and governance principles. HBAR, the native cryptocurrency of Hedera, is currently trading at $0.30 and is predicted to reach $1.
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