“Diamonds are a girl’s best friend”
This statement has been around since the 1940’s; when singer and songwriter Carol Channing introduced the song during broadway musical “Gentlemen Prefer Blondes”. Diamonds are a symbol of love. They are nearly unbreakable and used in wedding rings to symbolize the everlasting love of a couple. And just like the immense pressure needed to form a diamond, the couple has endured pressure, hardship together. And the diamond is their unbreakable bond vowed by words and sealed by the ring.
But what does this have to do with bitcoin?
Diamonds for BTC
You can actually buy diamonds with bitcoin and other cryptocurrencies. Samer Halimeh New York has begun accepting and trading bitcoin payments. For the business majority of sales were with the United States Dollar, however more international buyers did start to appear in the middle east and Asia. And with them came a demand for Bitcoin purchases. This is revolutionizing. The fact that 7 digit purchases are now more simplistic is great for the diamond industry. But that isn’t all.
Much of the world’s diamonds come from Africa. And in Africa controlling the mines gives a person bounds of power. Conflicts erupt and often times diamonds are used by the rebels to purchase goods, which is where the term blood diamond comes from. The blockchain has been helpful for authorities to track down and keep records of these transactions. After all once a transaction is on the block chain, it cannot be removed. Other countries can also appreciate this change, since bitcoin is a global currency purchases are made easy around the globe. And just like the diamond, the blockchain is not going to break very easily.
If a diamond catches your eye, Bitcoin may be the way to go. And if things continue looking up, other luxury goods may very well follow.
