May 28th, 2024

Exploring Diamante Blockchain with Founder and COO Chirag Jetani

Chirag Jetani discusses how Diamante Blockchain is changing the industry with unique solutions in an exclusive interview.

In this exclusive interview, we sit down with Chirag Jetani, Founder and COO of Diamante Blockchain, to delve into the unique capabilities and solutions that Diamante Blockchain brings to the market. With a focus on offering cutting-edge, 4th-generation, layer-1 hybrid blockchain-based solutions, Diamante Blockchain is enriching various industries by addressing key challenges in scalability, interoperability, and security.

Chirag shares insights into how their proprietary blockchain protocol, Diamante Net, is designed for high-speed, secure, and versatile transactions, powered by their native digital asset, DIAM. He discusses the impact of DIAM within their ecosystem and highlights the diverse applications and dApps developed on their network that cater to industries such as finance, healthcare, gaming, and more.

Join us as Chirag Jetani shares the journey of creating Diamante Blockchain, the challenges faced, and the exciting future developments that lie ahead in their mission to drive global adoption in the blockchain space.

Q) Can you tell us about the unique capabilities that Diamante Blockchain brings to the market?

A) As a leader in offering 4th gen, layer-1 hybrid blockchain-based solutions, Diamante Blockchain brings several unique capabilities to the market. Our proprietary blockchain protocol, Diamante Net, is designed for high-speed, enhanced security, and versatility, enabling secure and low-cost transactions. Our ecosystem is powered by DIAM, our native digital asset built on the top of our network that supports various use cases including digital payments, tokenization, supply chain management, and a wide range of applications already being built on our network.

Our innovative blockchain and AI solutions cater to the diverse needs of various industries, from healthcare, insurance, banking, trade, and travel, while addressing the industry’s critical challenges around scalability, interoperability, and security. In addition to these, Diamante supports advanced features like Real World Assets (RWA), Decentralized Physical Infrastructure Networks (DePIN), gaming, the creator economy, and layer-2 solutions, making it a versatile and powerful platform for diverse applications.

Moreover, our commitment to sustainability and innovation ensures that our solutions are not only technologically advanced but also contribute positively to the broader ecosystem. By fusing innovation and technology, we aim to offer sustainable solutions solutions that drive efficiency and growth across different sectors.

Q) There are several scalability and speed challenges in the current blockchain space. How do you believe Diamante addresses these issues?

A) With the innovative architecture, Diamante Net, and the use of the Federated Byzantine Agreement (FBA) consensus mechanism, we are able to solve the major challenges in the current decentralization space. Our network excels in terms of transactions by processing them in less than 3-5 seconds and handling around 10 million transactions daily with a throughput of over 7500 transactions per second (TPS). Our network ensures high scalability without compromising security and allows seamless interoperability across diverse applications and networks.

Q) Could you elaborate on the role and impact of DIAM Coin within the Diamante ecosystem?

A) DIAM is central to our ecosystem. It facilitates secure and efficient transactions, enabling platform governance and providing access to our dApps. As a native digital asset of our ecosystem, DIAM reduces transaction fees and enhances security with its anti-spamming mechanism. DIAM also enables users to access exclusive features within our suite of applications, thereby increasing user engagement and utility.

Q) What are some of the key dApps developed on Diamante Network and how do these dApps integrate with DIAM Coin to enhance the blockchain’s utility and user experience?

A) Well, we have a wide range of dApps that solve major challenges in realms such as finance (banking, payments, accounting, CBDCs), textiles, gaming, tokenization & NFTs, and exchanges.

We’ve got PayCircle, a super app to make digital payments instantly. It supports multiple currencies, both Fiat transactions and digital asset trading. The app is for both individuals and businesses—It has features like split & pay, schedule payments and set recurring payments, and more.

We also have DiamCircle which offers a platform to build dApps and is open for developers across the globe. Independent developers and businesses can integrate Diamante Net into their platforms or utilize the network infrastructure to build innovative dApps and exchange platforms.

While our other platform, MudraCircle, provides CBDC solutions to central banks and financial institutions, MetaCircle offers virtual banking solutions that solve the major challenges in traditional banking.

We also have a few dApps currently in the alpha stage on the Diamante Net, we have

  • CreditCircle: Offers easy and fast loans against cryptocurrencies, allowing users to instantly monetize their crypto assets without the need to sell them.
  • Mintify: A platform for creating and managing NFTs with customizable metadata and royalty distribution.
  • ChainX: A cryptocurrency exchange platform for fast, secure, and cost-effective digital asset trading.
  • NodeHRM: It is a software that streamlines HR tasks, offering seamless employee management.
  • ChainCRM: It is a tool for enhancing business-customer relationships and helping with easy sales and leads management.
  • Token Tool: The platform facilitates the creation and distribution of tokens easily.

As a common space, all the dApps are developed on our network and utilize DIAM to streamline transactions and provide interactive user experience, thus increasing the utility of blockchain and AI technologies.

Q) Diamante Blockchain prioritizes security and efficiency. Can you elaborate on how the blockchain accomplishes this? 

A) Security and efficiency are our top priorities, no doubt! We strive to safeguard user data and assets, and maintain confidentiality over their transactions through multi-layer authentication and advanced encryption measures.

Our network, Diamante Net, is fortified with a multi-layer authentication mechanism and anti-spamming controls, ensuring that only authenticated users and stakeholders can participate in transactions. Additionally, our encryption mechanism is built upon the underlying principles of Fully Harmonic Encryption (FHE), reducing the computational requirements for encryption and decryption of data within the network. This comprehensive approach to security and encryption not only safeguards sensitive information but also enhances the efficiency, reliability, and security of our blockchain network.

Q) Can you talk about the ways in which Diamante Network provides a competitive advantage over other blockchain platforms?

A) As mentioned earlier, our decentralized infrastructure powered by the FBA, Federated Byzantine Agreement consensus mechanism ensures rapid transactions within 3-5 seconds. This speed significantly outpaces many existing platforms and positions us as a leader in efficiency.

Another competitive advantage lies in the cross-chain compatibility that further distinguishes Diamante Network, enabling seamless integration with other major blockchain networks like Hyperledger Fabric and Binance Greenchain. This interoperability expands our reach and enhances liquidity, providing users with a robust and flexible platform.

Security and compliance are fundamental to our operations. We have established rigorous security protocols and a proactive bug bounty program to ensure the integrity of our network and build trust among our users. Our integration of AI enhances the efficiency and user experience of our platform, providing advanced features like predictive analytics and intelligent transaction processing.

The scalability and market traction of Diamante Net are evident in our achievements. With nearly 125 nodes ready for deployment and 217 dApps developed, we are well-positioned for continued growth. For example, in the healthcare sector, the Diamante Network ensures secure and immutable patient data management, significantly improving service efficiency and confidentiality. This application showcases our commitment to leveraging blockchain technology for solving real-world problems and reinforcing our position as a leader in the digital landscape.

Q) As Diamante looks to expand globally, particularly into markets like the UAE, USA, and India, what strategies are you employing to navigate the regulatory landscapes of these regions?

A) Our legal teams employ proactive strategies involving engaging with local regulatory bodies. They understand compliance requirements while establishing partnerships with key stakeholders. Our global strategic collaborations with the Private Office of Highness Sheikh Mohamed Bin Ahmed Bin Hamadan Al Nahyan – the Royal Family of Abu Dhabi reflect our commitment to fostering high-level relationships that drive innovation and growth in multiple geographies.

Our strategic partnerships with Credshield and our compliance with global auditing standards through partners like CertiK showcase our dedication to excellence. Additionally, our technical alliances with Binamite, HyperSign, and MetaDoge Unity signify our efforts to advance our technical capabilities. Our community partnerships with Web3Connect Global and ActualOne symbolize our zeal to foster a vibrant developer community and further drive the positive impact and growth of our ecosystem.

We have established key partnerships with renowned organizations such as AWS and Azure, providing robust cloud infrastructure, and other strategic partnerships with Indian Banks’ Digital Infrastructure Company (IBDIC), QuillAudits, TransUnion and TransBnk, etc. DAOstruct aids us in building a strong developer community, while Union Bank and Ujjivan SFB support us in expanding our reach in the financial sector. These strategic partnerships and collaborations help us develop innovative applications and offer sustainable solutions.

Q) Creating something so unique in its functionalities couldn’t have been easy. Can you share some challenges you faced while creating Diamante Blockchain?

A) Creating Diamante Blockchain was both challenging and rewarding. One of our main challenges was ensuring scalability without compromising security.

Building a skilled and dedicated team was essential. We brought together experts in blockchain, finance, cybersecurity, and AI, aligning them with our vision of revolutionizing various industries. Encouraging a collaborative culture and clear communication helped us navigate technical complexities and regulatory challenges effectively.

Achieving cross-chain compatibility with major networks like Hyperledger Fabric and Binance Greenchain required significant technical expertise and innovative solutions. Additionally, integrating AI to enhance efficiency and user experience added another layer of complexity.

Through strong leadership and a united team effort, we overcame these obstacles, resulting in a robust and versatile blockchain platform that stands out across multiple sectors.

Q) Looking ahead, what are the big upcoming developments or innovations within the Diamante ecosystem? What does the future look like for Diamante? 

A) Our goal is to make Diamante Blockchain a world leader in innovation across various industries with our strong network, Diamante Net. To do this, we’ll keep improving our technologies to ensure fast and secure transactions and better compatibility with other blockchains.

We’ll create tailored blockchain solutions for different sectors and engage the global community to foster innovation and find new opportunities. Forming strategic partnerships, upholding top security and compliance standards, and integrating advanced AI and data analytics are key parts of our plan.

Additionally, we are working closely with legal bodies across the globe to increase the adoption of blockchain. These efforts will help us build a groundbreaking blockchain ecosystem that promotes global adoption and drives innovation.

To learn more, visit Diamante Blockchain, Socials, and DiamCircle, and its Socials.


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