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The blockchain industry has witnessed remarkable growth and innovation, with various platforms emerging to cater to diverse needs. While the financial sector is leading the way in blockchain adoption, accounting for 29.7% of global blockchain spending, the technology also finds its way into the supply chain, real estate, manufacturing, and healthcare. This growing interest is fueled by the potential of DeFi and blockchain to streamline operational processes, enhance security, and enable transparent and accessible data exchange. In this context, one platform that has garnered significant attention is Diamante Blockchain, with its cutting-edge Layer 1 blockchain protocol, Diamante Net, designed to address real-world challenges across multiple industries.
Diamante Net is a high-performance, scalable, and secure blockchain network that offers a versatile ecosystem for developing decentralized applications (dApps) and solutions. Within its ecosystem, Diamante has introduced several innovative offerings, DIAM and the DIAM Wallet, a user-friendly interface for managing digital assets and accessing dApps, including a decentralized payments platform PayCircle, and a decentralized virtual banking platform, MetaCircle. With its modular architecture and customizable features, Diamante Net enables the creation of industry-specific applications tailored to the unique requirements of various sectors, ranging from finance and supply chain management to gaming and beyond.
In this interview with Chirag Jetani, the Founder & COO of Diamante Blockchain, we uncover the remarkable potential of this project.
Our proprietary blockchain network, Diamante Net, is a 4th generation, layer 1 hybrid blockchain protocol. It is known for its speed, scalability, security and interoperability and is capable of handling 10 million daily transactions with a throughput of 7500+ transactions per second. Diamante Net is a high-performance network that facilitates fast, secure, and low-cost transactions using our native digital asset, DIAM, which provides users access to the entire Diamante ecosystem, including our products and services.
Our architecture supports diverse use cases, including lending & borrowing credits, digital payments, NFTs, healthcare, travel, Insurance and much more. The network employs innovative encryption methods based on Fully Homomorphic Encryption (FHE) ensuring security for transactions and data. Also, our native digital asset, DIAM, the utility coin of our ecosystem, offers users access to the entire ecosystem, our products and services.
Furthermore, Diamante Net aligns with features such as Real World Assets (RWA), gaming, the creator economy, and layer 2 solutions. The resources are available online, and developers may access them through the developer portal and sandbox to set up use cases. The other features of the network include sharing for enhanced scalability, cross-chain compatibility, and bridges to facilitate seamless interoperability across different blockchain networks.
In summary, Diamante Net and our ecosystem provide a comprehensive suite of blockchain and AI-based solutions addressing major industry challenges around transparency, security, interoperability and user-friendliness. Our robust architecture and diverse use case support make Diamante Net a versatile and powerful platform for various industries.
Diamante Net’s modular architecture is built to be highly flexible and highly customizable. It allows developers to create industry-specific applications tailored to the current industry needs. The architecture leverages the Federated Byzantine Agreement (FBA) consensus mechanism – which means transactions are settled at an ultra-fast speed in less than 3 seconds. Imagine, all of this is end-to-end encrypted with a multi-layer authentication.
The platform also integrates the Sync Bridge and Binance Greenfield Chain and provides seamless interoperability with other networks. Additionally, the user-interfaces are intuitive and we’ve streamlined the developer tools for the deployment and development of dApps—Thanks to our strong Technical team and their expertise. This makes it quite easier for the developers to innovate and deploy solutions across various industries.
We often face challenges like high operational costs, manual processes, paperwork, geographical constraints, etc. These challenges in traditional financial systems can now be addressed with our MetaCircle virtual banking solution, which is currently in the beta stage. MetaCircle will revolutionize new-age banking, creating immersive, interactive, and highly personalized banking and financial experiences.
Through the MetaCircle, customers can access banking services, set up consultations with financial advisors and explore immersive product demonstrations. With MetaCircle, banks and financial institutions can also conduct financial literacy programs, offering interactive and gamified learning experiences to help users understand financial concepts and make informed decisions. Virtual assistants and AI-driven chatbots are going to be real with MetaCircle. Of course, transactions will be more secure, reducing the risk of fraud. Through MetaCircle, banks and financial institutions can reach global customers without the need for physical branches, making it easier to expand services across the regions. MetaCircle is designed keeping in mind the ideal situation of busy individuals and offering them a convenient banking experience.
PayCircle, our flagship payments application, employs a comprehensive set of security measures and protocols to ensure secure and efficient transactions. Advanced encryption (AES-256) protects all transaction data during transmission and storage, while multi-factor authentication (MFA) adds an extra layer of protection for user accounts.
Secure APIs and communication protocols like HTTPS and TLS ensure safe data exchange between systems. AI-driven fraud detection algorithms continuously monitor for suspicious activity, enhancing real-time security.
The platform adheres to international regulatory standards such as PCI-DSS and undergoes regular third-party security audits to mitigate risks. PayCircle also complies with data privacy regulations like GDPR and has robust disaster recovery and business continuity plans in place.
These measures collectively ensure that PayCircle provides a secure, efficient, and reliable payment platform for our users.
Talking about our DIAM Wallet; it provides a user-friendly interface for managing digital assets. It supports both the ERC-20 and BEP-20 versions of DIAM Coins, allowing users to send, receive and store various cryptocurrencies securely.
Additionally, DIAM Wallet facilitates seamless transactions within the ecosystem, reducing and improving accessibility for all users. DIAM Wallet also supports backups of recovery phrases to prevent loss in case of device misplacement. The wallet is available for both Android and iOS users.
As mentioned earlier, Diamante Net has a high-performance, scalable and secure architecture that supports cross-chain compatibility. It is capable of handling 10 million daily transactions with impressive speed and low latency, thanks to the Federate Byzantine Agreement (FBA) consensus mechanism.
On the other hand, the integration of diverse interoperability solutions, such as the Sync Bridge and Binance Greenfield Chain, further sets us apart. Our user-friendly interfaces and robust developer tools also differentiate us from other blockchain networks.
PayCircle is our flagship product and a super app to conduct payments, make transactions, and trade digital assets. It allows users to send, receive and custody multiple currencies and is designed to cater to the needs of individuals and businesses.
DiamCircle is our platform that helps developers and blockchain enthusiasts develop and deploy dApps on the top of our blockchain network.
Other decentralized platforms, such as CreditCircle, Mintify, ChainX, and NodeHRM, are currently in the alpha stage of development and undergoing testing for their core functionalities.
To discuss briefly, CreditCircle offers loans against one’s crypto assets without the need to actually sell them. The users will still possess ownership over their assets, even if it’s in the CreditCircle custody. Users can pay back whenever they would like to at very minimal interest rates.
While Mintify allows users to create and manage NFTs and royalty distribution, ChainX is an innovative crypto exchange platform for fast, secure, cost-effective digital asset trading. To learn more about our platforms, including NodeHRM and ChainCRM, please visit https://explorer.diamcircle.io/application.
We are actively expanding our reach and adoption of Diamante Net by developing tailored solutions that cater to the needs of various sectors beyond finance. We have signed an agreement with Skyra Jewels, a USA-based jewelry brand to build its entire e-commerce platform on our blockchain. This integration addresses key challenges around transparency and efficiency in the industry. To cater to the entertainment industry, we have partnered with Bollywoodirect, an India-based platform, to develop its ecosystem around the creator economy.
Additionally, we are engaging with gaming communities in Southeast Asia and organizing global hackathons. The promising products submitted during these hackathons that show great potential for various industries will receive our support for further development. By leveraging Diamante Net and integrating blockchain technology, we are addressing major challenges and supporting developers in creating innovative solutions with our robust developer resources.
Our global strategic collaborations with the Private Office of Highness Sheikh Mohamed Bin Ahmed Bin Hamadan Al Nahyan – the Royal Family of Abu Dhabi, symbolizes our commitment towards building population-scale solutions in the Middle East.
Additionally, our strategic collaboration with Credshield for compliance; security and global auditing standards with CertiK; and technical alliances with Binamite, HyperSign and MetaDoge Unity are a few noteworthy examples of our commitment. Our community partnerships with Web3Connect Global and ActualOne help us foster a vibrant developer community, conduct hackathons, and meetups and connect blockchain industry leaders and experts are crucial to create opportunities in the blockchain ecosystem. We also have a few more potential partnerships lined up that would help us expand our global footprint.
Our partner ecosystem also includes renowned organizations such as AWS, Azure, Indian Banks’ Digital Infrastructure Company (IBDIC), QuillAudits, TransBnk, TransUnion, Maximus, Zeeve, W3CG, Union Bank, Ujjivan SFB, DAOstruct, and JioCloud.
These strategic partnerships and collaborations are pivotal in addressing critical industry challenges, driving blockchain adoption, and fostering sustainable development worldwide.
Our long-term vision is to establish Diamante Blockchain as a global leader, driving innovation across multiple industries through our robust network, Diamante Net. To achieve this, we will continue advancing our core technologies, ensuring rapid and secure transaction processing, and enhancing cross-chain compatibility.
We will develop customized blockchain solutions for various sectors. Engaging the global community through various initiatives, will foster innovation and identify potential industry fits. Building strategic partnerships, maintaining the highest standards of security and compliance, and integrating advanced AI and data analytics are key components of our strategy. These efforts will collectively help us create a transformative blockchain ecosystem that drives global adoption and innovation.
