What is Fair Diamond Mining?
Fair Diamond Mining (FDM) is a decentralized platform, based on the Ethereum blockchain. FDM will invest in a real diamond mine in Liberia (West-Africa) which affords the local diamond miners a greater share of the revenue.
At the same time, Fair Diamond Mining allowing investors to earn money by selling these diamonds with less overhead due to the elimination of unreasonable fees.
The Challenge
Currently, the miners work manually and subtract approximately 3 carats per day. As only 200 days a year suitable for manual mining, FDM wants to invest in equipment to gain more revenue for the company and for their investors within the 5 years of concession by the government of Liberia.
Creating the Solution
Investing in a real diamond mine in West-Africa with a greater share for the miners by cutting out unreasonable fees.
The Goal
To mine almost all year long by having the state of the art equipment for the miners, and to cut out the middleman for the benefit of the company and their investors.
The Solution
Fair Diamond Mining brings investors and miners together in a single decentralized network, using blockchain technology. The platform implements state of the art equipment to scan and upload all mined diamonds on the spot. FDM platform knows for 95% what the final retail price will be and our investors will also know what we earn on this diamond real time.
To start, we need at least $ 1.500.000,- to buy equipment so that the miners can mine at least 45 carats per day and 300 days per year. If they can reach that goal our platform will earn $ 2.8 million each year by cutting out the fees of the Intermediaries in the chain. Once we have a polished diamond we could decide if we sell this to our platform investors or to end-customers to realize more added value.
Earnings from the ICO will be used to fund for new equipment for the miners which will bring great returns for the company and for their investors. Diamonds will be mined for the next 5 years of the concession issued by the government of Liberia.
The platform implements state of the art equipment to scan and upload all mined diamonds on the spot. FDM platform knows for 95% what the final retail price will be and our investors will also know what we earn on this diamond real time.
After scanning and engraving of the diamonds, it will then be safely stored and transported to a safe place via a helicopter.
Mining in its current form are fraught with inefficiencies, security risks, and unreasonable fees.