June 17th, 2024

Chirag Jetani, Founder & COO of Diamante Blockchain, featured on Bitcoinist.com. Chirag Jetani is seen speaking at an event, representing Diamante Blockchain with confidence and professionalism

An Interview with Chirag Jetani on Diamante’s Vision for a Seamless Blockchain Future

Blockchain technology has become a revolutionary force in the modern age. However, the industry has also encountered major obstacles to scalability, interoperability, and user-friendliness.

Given this, Diamante Blockchain offers an ecosystem built on its layer-1 hybrid blockchain in an effort to solve these widespread issues in the sector. More than just a company, Diamante represents a ray of hope for a global community in need of inclusive, transparent, and efficient financial solutions.

This layer-1 blockchain solution was founded in 2018 to address the most critical issues affecting international trade, such as lengthy international payments, expensive cross-border transfer fees, finance accessibility issues, and transaction cost opacity.

Today, we have the honour of hearing directly from Chirag Jetani, the founder and chief operating officer of Diamante, the force behind this ground-breaking project.

Could you give us an in-depth overview of the Diamante blockchain ecosystem?

In 2017-18, my co-founder, Dinesh Patel, and I, with our deep understanding of the finance and trade industries, identified significant challenges that blockchain could address. This led to the establishment of Diamante Blockchain in 2018. Our goal was to tackle high operational costs, lack of transparency, and time-consuming payment settlements.

Today, we lead in implementing blockchain and AI-based solutions within a multifaceted ecosystem focused on transparency, efficiency, and security. Our ecosystem extends beyond finance, payments, and trading, supported by our proprietary blockchain network, Diamante Net, a 4th generation, layer 1, hybrid blockchain. Diamante Net supports a wide range of applications, from payments and supply chain management to gaming, digital identity, and decentralized finance, reducing intermediaries, lowering costs, and enhancing transparency.

Central to our ecosystem is DIAM, our native digital asset, used for transaction fees and accessing the ecosystem. DIAM will soon be listed on leading exchanges, and we invite everyone to join the Diamante community and leverage DIAM’s utility.

What are some notable examples of industry-specific solutions or applications that have been successfully built on the Diamante Net blockchain?

Of course! To empower developers and blockchain enthusiasts, we introduced DiamCircle, allowing them to create and deploy innovative dApps on our proprietary blockchain protocol with comprehensive support resources.

Then we have DIAM, the core of our ecosystem, offers fast, secure, and low-cost transactions on the Diamante Net. With 10 billion pre-mined DIAM, it serves as the primary medium of exchange within our ecosystem and can be swapped across leading networks like Ethereum, Binance Smart Chain, and TRON. DIAM also acts as a network processing fee, anti-spam measure, and ensures verified user participation. It will soon be listed on leading exchanges.

PayCircle, our flagship payments application, supports multi-currency transactions with minimal fees, offering AI-curated rewards and FDIC coverage for USD custody.

 On the other hand, we have CreditCircle, in alpha development. It will provide loans against crypto assets, allowing users to retain ownership while enjoying minimal interest rates.

We are also developing various applications on Diamante Net:

  • Mintify: Create and manage NFTs and royalties.
  • ChainX: A secure crypto exchange platform.
  • NodeHRM: Streamlined HR management solution.
  • ChainCRM: Enhances business-customer relationships, boosting sales and leads.

Platforms like NodeHRM and ChainCRM are probably among the first to be built on blockchain.

We recently signed an agreement with Skyra Jewels, a US-based e-commerce platform building its infrastructure on Diamante Net.

More dApps are in development and will launch soon. Visit our Explorer for updates.

What central issues do conventional financial systems face, and how does Diamantes’ MetaCircle virtual banking platform try to solve them?

We often notice high operational costs in traditional banking, which also include manual processes and paperwork. There are also geographical constraints associated with conventional banking. To address these challenges, we are developing MetaCircle.

MetaCircle, currently in its alpha stage, is a new-age virtual banking platform offering customers interactive virtual banking experience. Now, banks and customers can enjoy minimal manual processes and paperwork. It is a perfect platform that speeds up transaction times and improves overall efficiency. With AI-driven chatbots and virtual assistants, customers can get their inquiries instantly addressed.

MetaCircle’s features fit into the schedules of busy individuals and align well with their preferences. The platform employs advanced security measures of Diamante Net, ensuring virtual banking is safe and secure.

Recently, we conducted a Metaverse Banking Lounge with two banks in India, where the banks organized virtual banking experiences for their customers. It was a success, and now we are at an advanced stage of discussions to establish a full-fledged branch for them.

In the Diamante ecosystem, could you describe the role and goal of the PayCircle application?

“You want to make a transaction, or wanna trade, or maybe split your expenses with your friends, and if you want to schedule or set up a recurring payment, just do it all with PayCircle.”

PayCircle is a pivotal application within the Diamante ecosystem. It allows users to send, receive and custody multi-currency Fiat and digital assets.

Unlike other apps, our payments application facilitates seamless business and merchant payments. Employing advanced encryption mechanisms and multi-factor authentication, these security systems  work as an extra layer of protection for PayCircle user accounts.  PayCircle features also allow users to split payments, schedule payments and set up recurring payments. Would recommend users to download PayCircle via Play Store and App Store.

How does Diamante’s integration of Real World Assets (RWA) and gaming applications within its ecosystem contribute to developing innovative decentralized solutions, particularly in the context of the emerging Metaverse trend?

Diamante’s integration of Real World Assets (RWA) and gaming applications are going to be the real game-changers.

Asset tokenization, developing gaming applications with play-to-earn models, incentivizing gamers and transforming the incentives into viable sources of income, and creating immersive experiences where users can interact in virtual worlds with platforms like MetaCircle are a few examples of our upcoming strategic plans to align with and participate in the upcoming bull run.

We’re working relentlessly to ensure that Diamante is well-positioned to take advantage of market opportunities while providing scalable solutions.

How does the DIAM Wallet make it easier for users to interact within the Diamante ecosystem?

Our DIAM Wallet offers an intuitive interface and is very simple to use. Thanks to our creative and tech teams, who just got the wallet look vibrant and made it easy to use. The wallet allows users to send, receive, and manage various cryptocurrencies, including our native digital asset, DIAM. It offers a compatibility feature enabling users to switch between DIAM ERC-20 and DIAM BEP-20, making it accessible to everyone.

Our non-custodial crypto wallet offers low-cost and fastest transactions at 0.0000024 USD/transaction and 7500 transactions per second. Along with Diamante Net, the wallet is backed by the leading layer 1 blockchain networks, such as Binance, Ethereum, and TRON. Users will have control over their accounts and complete ownership and security of their assets.

We have recently introduced ‘play and earn DIAM’ games on our DIAM Wallet. With this, users can win DIAMs everyday.

Can you tell us how Diamante Net differentiate itself from other leading global blockchain networks in terms of performance, scalability, and overall capabilities?

10 million daily transactions, 7500 TPS in a 1000+ node environment. Ultra-fast transactions settlements in 2-4 seconds without compromising on security!

These are not just numbers but they reflect Diamante Net’s high performance, scalability and security features that support cross-chain compatibility. Our network has an impressive speed, and low latency with the Federated Byzantine Agreement (FBA) consensus mechanism.

Its integration with diverse interoperable solutions, such as Binance Greenfield, BNB Chain’s decentralized storage solution, has been a major move in enhancing our network’s utility and functionality.

What specific advantages does Diamante Net offer over its global competitors regarding transaction speed, interoperability, and adaptability to diverse industry needs?

What differentiates Diamante Net is what makes it competitive. Diamante Net stands out in terms of transaction speed, interoperability, and adaptability. It is designed to handle high-volume transactions, reducing processing times compared to other competing blockchain platforms.

The network’s architecture supports scalability. It can maintain fast transaction speeds even as the number of users and transactions grows, it can handle peak loads during high-demand as well. Instant confirmations, enhanced operational efficiency, and reduced latency which is beneficial when it comes to international transactions without any delays – these features of the network make it highly adaptable to diverse industry needs. With the help of our in-house tech & research teams, we always monitor and predict the trends. This proactive approach is also evident in our roadmap.

Can you describe the key innovations, collaborations, and future plans for the Diamante Blockchain ecosystem in different industries and sectors?

In terms of Innovation and Collaboration, one of the most significant milestones for Diamante Blockchain was establishing a strategic partnership with the esteemed Private Office of Highness Sheikh Mohamed Bin Ahmed Bin Hamdan Al Nahyan – the Royal Family of Abu Dhabi. This partnership marks a pivotal moment in our journey, as it aims to expand the Diamante ecosystem to the Middle East and foster technology and cultural exchange between India and the MENA regions. Together, we envision building population-scale solutions, creating a thriving startup ecosystem and bridging gaps in innovation and collaboration.

Another exciting development is around the listing of DIAM. Sooner, we will have DIAM listed on all of the leading exchanges, which will provide increased accessibility and liquidity for our community and investors worldwide. We also encourage interested individuals to join the Diamante ecosystem.

Additionally, our collaborations with tech partners like Binance Greenfield and the Hyperledger Fabric community further strengthen our integration with Diamante Net.

Especially, I would like to emphasise about our upcoming Diamante Net Hackathon 2024, with a total reward pool of $100,000, is poised to be a global event that showcases the utility of our network. With over 1000+ applications received already, we welcome developers and blockchain enthusiasts worldwide to grab this opportunity and create innovative dApps. The best project might also receive a grant from the Diamante Foundation team.

As we continue to expand our operations into new geographies, we remain committed to forging partnerships and collaborating with key stakeholders in dynamic markets such as Vietnam, Japan, Korea, and the USA. By being present at major global events and engaging with potential partners and regulatory bodies, we aim to create synergies in the blockchain ecosystem.

In conclusion, the future of Diamante Blockchain is bright and full of possibilities. With a focus on innovation, collaboration, and expansion, we are geared up to make a lasting impact across various industries, driving the adoption of blockchain technology and fostering sustainable growth worldwide.

Source: Bitcoinist


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