iCoin International is bringing diamonds to the blockchain by providing a decentralized platform for interested individuals to participate in the buying and selling of diamonds. In light of this, iCoin international is launching an initial exchange offering (IEO) with LATOKEN, a highly acclaimed cryptocurrency exchange company, to reach out to a wider audience.
iCoin is set to create a leveled ground for blockchain adoption in mainstream markets, especially in the precious gem industry. With the immutability of blockchain technology, the platform will become a market aggregator for the disruption of how diamonds are mined and marketed. By simply deploying innovative technology and artificial intelligence, the platform will deliver a much needed transformation in the market scene.
Diamonds are highly-regarded gemstones with innate properties for both aesthetic and industrial use cases. However, the gem industry is blighted with a poor reputation in regards to overall transparency based on how diamonds are mined, operated, and distributed. Additionally, rigid state policies on the gem industry has lead to widespread illegal activities.
A Diamond Solution
iCoin International aims to deliver a blockchain solution by combining the inherent nature of the technology with artificial intelligence. The result will be a tokenized diamond mining operation where a trustless network will secure and timestamp every single data.
- iCoin will build its core value on transparency, as all financial transactions carried out on its platform will be accessible through blockchain open and distributed ledger.
- iCoin will also enable automatic and instantaneous transactions through the use of a smart contract.
- There will be adequate traceability of all diamonds from extraction to distribution. The supply chain will be time-stamped on the blockchain.
The project iCoin International is owned by Millennium Mining Corporation, a company based in Freetown, Sierra Leone — one of the countries renowned for its huge diamond operation. There are over 2,500 small-scale diamond mining business scattered across the country and in 2018 alone, an estimated $150 million worth of diamonds were exported.
Already, iCoin’s parent company has carried out multiple researches in Baimbawai Pool, the deepest section of the slow-moving Sewa River. Analysis on the pool revealed the water has over 1 to 1.5 million cubic meters of diamond-bearing gravel with grades ranging from 0.2 to 0.5 carat per cubic meter. This means, there are about 200,000 to 750,000 carats of diamonds in Baimbawai pool.
From the result of previous mining carried out in the area, diamonds as high as 4 carats per cubic meter has been discovered. Back in 2005, Millennium Mining Corporation extracted its largest diamond, a 8.25-carat clear piece.
Furthermore, all revenue generated from the business will be used to grow and expand the iCoin International marketplace. This marketplace is forecasted to turn over 5,000% returns within 5 years of its inception. The project will only mint 600,000,000 of its native ERC20 token, ICOIN. This token is designed to fuel the trading of diamonds in its marketplace and the trading of other ERC20 tokens in peripheral markets. Plans are also in place to push the growth of ICOIN through a buyback program of tokens at market rate. Details of this program will be unveiled after the successful sale of the 10,000,000 ICOIN placed on the LATOKEN IEO.
Token price during the IEO event on LAOKEN is pegged at USD 1 and can be purchased with either USD or cryptocurrencies such as ETH and BTC. The minimum amount of investment is $100 or its equivalent in cryptocurrency.
Only interested participants with an already functional LATOKEN account will be exempted from KYC and anti-money laundering (AML) verifications. Following the conclusion of the event, all IEO participants will receive their ICoin immediately to do with as they wish — trade them or store them for gains.
Additionally, funds received from the IEO will be channeled into diamond mining operations. At the same time, profits from the operation will flow back into the iCoin International market.
iCoin is the future of diamonds, and Millennium Mining Corporation is funding that future with dedication as it is currently looking to explore other natural resource markets.
To be one of iCoin International early backers, visit here.