Indeed, the blockchain market is now in full swing and in full swing. Bitcoin ETF is expected to be approved for the first time in history, followed by China, and there will be more countries that are piloting CBCD (Central Bank Digital Currency), and the growth of the Defi field will grow rapidly and further grow blockchain companies. .
The financial sector has already started in earnest through regulation and institutionalization, and China has already started the state-run blockchain network BSN. However, in Korea, starting with the enforcement decree of the Special Money Act in 2021, various virtual asset operators will not be able to acquire licenses, and most cryptocurrency exchanges will not feel merit in business in Korea. The reputation and public perception of coins and blockchains is poor.
This is because the public’s reaction to the distrust of the industry and the government’s distrust in preparation for the fact that most of the coins lose trust through fraud and speculation such as illegal multi-level coins and pseudo-receiving, and become enormous victims of all kinds of fraud in the block chain craze. Perhaps because of the response.
In Korea, more than 3 million victims of coin fraud are mass-produced, and the amount of damage alone exceeds $29 trillion (3.5 trillion). An exchange where multi-level fraudsters still hire white papers and market makers (MM) improvised by brokers or consultants to create coins, market them, and adjust prices through connected operational forces, exchanges that tolerate coins manipulated for coin listing. Confidence in the industry is still sharply declining due to the links of speculators, etc.
The reason why the market of blockchain, which is the most reliable technology, is the most unreliable is thought to be because of transparency, lack of fairness, distrust and neglect of fraud.
I’ve been looking for ways to improve the blockchain industry through historical considerations on how the diamond market, which has been sold as fraud, manipulation, counterfeiting, and counterfeiting for thousands of years, has created a market of $57 billion that anyone can trust, and has become an everlasting brand with constant trust. I looked up.
The diamond market has a structure similar to the value chain of the blockchain industry such as mining, manufacturing, polishing, cutting, sales and distribution. Gemstone diamonds mined in India, Russia, Canada, Australia and Africa are commercialized by polishing techniques such as India, Belgium and Israel.
Since then, diamond ladles are traded in Antwerp, Belgium, as the world’s largest wholesale market.
And the products set with Naseok through European luxury brands (Tea Party, Cartier, Bulgari, Chaumet, etc.) become diamond products and are supplied to consumers around the world.
It is similar to blockchain-related industries such as coin development, mining, exchange listing, and marketing.
So, it is the players who have raised the trust that has made anyone trust what fraud and counterfeiting have been rampant in this similar diamond industry. It is De Beers, a Jewish company that unifies the process of being mined and processed, and the international diamond price table that sets the price of diamonds according to the results of analysis of the mining and consumption of diamonds, the demand and supply of diamonds, and the resulting results is Rapha. Port Report’.
Established in 1931, GIA (Gemological Institute of America) created the 4C (Color, clarity, Cut, Carat) standard, assessing 90% of diamonds over 1 carat in the world so that people around the world can trust it. The Gemstone Insurance Price Assessor (IRA) certification was issued as well as the US Internationally Certified Gemstone Appraisal Certificate (GC) to train experts.
It is also trusted through the’Kimberley Process’, an authentication system that gives diamonds an ID. Through the issuance of certificates, transaction transparency and product reliability have been enhanced, creating a diamond market that everyone can trust now.
Likewise, the blockchain market also evaluates trusted coins or companies through 4C Certificate, Credibility, Clear (transparency) and process connection, and is connected to the platform through authentication and education. How about raising public confidence and trust through business?
As a result, trust in the industry increases, and if anyone trades coins transparently, how will the government’s policy change, how will the industry spread, and how will the status and reputation of industry workers change? As an industry practitioner, it is time to consider the growth of the blockchain market through the diamond market.
