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In a rapidly evolving technological landscape, blockchain continues to stand out as a transformative force, across diverse sectors. To explore this further, we had the opportunity to speak with Chirag Jetani, the founder and COO of Diamante Blockchain.
From his early interest in cryptocurrency to establishing Diamante Blockchain alongside co-founder Dinesh Patel, Chirag shares insights into the company’s inception, its innovative solutions, and the milestones achieved so far. With a focus on Web 3.0 and blockchain & AI technologies, Diamante Blockchain is poised to revolutionize finance, trade, payments, gaming, healthcare and beyond.
Join us as we delve into Diamante’s journey, its proprietary blockchain network, Diamante Net, and the strategic partnerships that are driving its global expansion. Discover how Diamante Blockchain is addressing real-world challenges and leading the charge toward a decentralized, secure and transparent future.
U.Today: Hey Chirag, thank you for coming. Please briefly introduce yourself and the inception of Diamante Blockchain.
Chirag Jetani: I am Chirag Jetani, the founder and COO of Diamante Blockchain. My journey in the blockchain and crypto industry began several years ago with a passion for decentralized technologies and their potential to revolutionize various sectors.
When I was in college in Germany, I was introduced to cryptocurrency. The more I learned about it, the more interesting it became. While researching crypto, I came across blockchain technology and started looking into how it could be used in real-world business use cases. During this time, I met my co-founder, Dinesh Patel, who is a seasoned entrepreneur. We began discussing various business ideas that could address real-world problems in the finance, trade and payments space and grow into a billion-dollar company. This is how Diamante Blockchain was born.
Fueled by the ambition to address the pressing issues, we recognized blockchain technology as a promising solution to revolutionize the finance and banking landscape and collaborated with industry leaders and blockchain experts to set up the ecosystem. Thus, established "Diamante Blockchain" with an ultimate motto to offer decentralization, security, transparency and cost-efficient solutions with the creation of our proprietary blockchain network, Diamante Net and our digital asset, DIAM.
U.Today: How would you describe Diamante Net in the shortest possible way? What is its key difference compared to other blockchains?
Chirag Jetani: Diamante Net was developed with the vision of establishing a robust, reliable and secure blockchain network that enables instant transactions and ensures transparency at every step. The network is based on a federated consensus mechanism, allowing it to achieve up to 7,500 TPS (transactions per second). It uses the Ed25519 signature scheme, making it secure.
Additionally, it has an asset anti-spamming mechanism for users to manage their assets efficiently. Diamante, Aurora API and SDKs each play a specific role in providing a financial infrastructure that is resilient to failures, accessible to anyone and fast and cheap enough to serve real-world use cases.
U.Today: Indicate the most important milestones for Diamante Net as an L1, accomplished in Q2, 2024?
Chirag Jetani: The biggest and the most significant milestone for us 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. The partnership aims to expand the Diamante ecosystem to the Middle East and build population-scale solutions with blockchain and AI technologies. This partnership aims to foster a startup ecosystem and promote cultural exchange by bridging the gaps in India and MENA regions.
We are also thrilled to share that DIAM, our native digital asset, is now ready to be listed. In just a few weeks, our community and the world will witness DIAM on all leading exchanges.
While we expand operations across various geographies, we quickly encountered two significant challenges: managing our resources and sales data efficiently. At first, we relied on existing software solutions in the market, but it was clear that they fell short of meeting our requirements. This made us develop NodeHR and Chain CRM, on the foundation of our blockchain network, Diamante Net. Both platforms are probably going to be the "first-ever" being built on a blockchain infrastructure.
NodeHRM helps streamline HR management with teams scattered across multiple time zones. Building on the Diamante Net, the platform will transform recruitment, onboarding, performance management and employee engagement and make HR operations more efficient. While Chain CRM supports tracking sales and customer interaction providing real-time analytics, predictive insights and automation capabilities. Soon it will be the powerhouse for managing client relationships and optimizing sales strategies. Both of them are currently in the alpha stage.
As our network grew, so did the features of our network. The integration of Binance Greenfield, BNB Chain’s decentralized storage solution, has been a major move in enhancing our network’s utility and functionality. This creates a dynamic environment where applications can seamlessly access and utilize shared information through the ILP solution, the Sync Bridge. We have strengthened collaborations with tech partners, including Hyperledger Fabric community solutions for Diamante Net integration. Furthermore, we are boosting engagement with our 1 million strong community and developer engagement with Diamante Net through international hackathons and alliances.
Diamante Net Hackathon 2024, with a total reward pool of $100,000, is set to happen from June 17. The hackathon is open to individuals and teams of developers and blockchain enthusiasts worldwide. The global event aims to promote the utility of our network, Diamante Net, to build innovative projects that could include DeFi solutions, gaming applications, AI, dApps, NFTs, RWA and Web3 infrastructure. So far, we have received over 1,000 applications, and we expect even more to join as the event approaches.
We are constantly expanding our operations into new geographies. Our team strives to be present at all major global events, which helps us meet potential partners, government officials and regulatory bodies in those countries. For instance, we are set to travel to Vietnam, Japan, Korea and the USA in the coming months and are already exploring potential business synergies there. We are excited to forge new partnerships and collaborate with key stakeholders in this dynamic space.
U.Today: Could you please name the most obvious competitors in the L1 segment for Diamante Net?
Chirag Jetani: In the L1 segment, Solana and Hedera are our competitors.
Diamante Net stands out by combining advanced features like scalability, security, speed, high throughput and low transaction costs. Diamante Net’s advanced features, including real-time visibility and versatility across various applications, provide a robust platform for a number of use cases from payments, supply chain management, trading, RWA, gaming, DePIN and beyond.
U.Today: Let’s focus on use cases. It looks like Diamante Net is a smart bet for real-world and integration in existing systems, is that correct? Tell us about your applications built on the Diamante Net.
Chirag Jetani: Yes, that's correct. One of Diamante Net's noteworthy features is its seamless interoperability and integration into existing systems.
As a result, diverse industries, from healthcare, digital payments, supply chain, banking, trade and others, are able to incorporate and utilize the Diamante network in their platforms. We recently signed an agreement with Skyra Jewels, an upcoming USA-based jewelry e-commerce company, which will build its entire e-commerce infrastructure on Diamante Net.
Another one that I could mention is that we have partnered with Bollywoodirect, an India-based entertainment platform. We are working to cater to their needs by integrating our infrastructure and developing an ecosystem around the creator economy.
We also have a few dApps in the alpha stage, such as CreditCircle, which offers instant loans against cryptocurrencies; Mintify, a platform to create and manage NFTs with customizable metadata and royalty distribution; ChainX, an exchange platform for fast and secure digital asset trading.
In addition to these, we are also working on an HRM portal called NodeHRm, which will streamline HR tasks and provide efficient employee management, and ChainCRM, a tool that enhances business-customer relationships, helping businesses with sales and leads management.
U.Today: DePIN is the hottest trend right now. Any ambitions in this sphere?
Chirag Jetani: Absolutely, we are enthusiastic about the potential of DePIN and are actively pursuing opportunities in this space. Our infrastructure is robust enough to support DePIN projects and we are already in discussions with several DePIN initiatives eager to build on our platform.
Furthermore, we have an in-house tech research team dedicated to staying ahead of technological trends. This team ensures our infrastructure remains cutting-edge, enabling us to effectively support any project utilizing these emerging technologies. We are keen to leverage our capabilities to contribute significantly to this evolving space.
U.Today: MetaCircle, PayCircle, and DIAM Wallet are known as the most mainstream applications of Diamante’s tech. Tell us a little about these tools.
Chirag Jetani: Yes, they are our pioneer applications. PayCircle is our flagship payment application. It offers super flexibility to users, both individuals and businesses, to transact and trade in multicurrency. It offers FDIC-insured USD custody for the money deposited in PayCircle. Perhaps, it offers AI-curated personalized rewards to users with cashbacks. Alongside, users can schedule and set up recurring payments and split bills with their friends and family.
DIAM Wallet allows individuals to conveniently send, receive and store various cryptocurrencies, including DIAM, our native digital asset. The Wallet’s compatibility feature enables users involved in different blockchain networks to have more options when conducting their transactions since they can switch between DIAM ERC-20 and DIAM BEP-20. The DIAM Wallet provides enhanced security measures, built on top of our proprietary network, and integrates seamlessly with innovative encryption methods based on FHE. Additionally, the wallet also supports cloud backups of recovery phrases to prevent loss in case of device misplacement or failure, protecting investments made by users.
MetaCircle, currently in the alpha stage, offers virtual banking solutions with immersive, interactive and personalized experiences. It allows banks to integrate virtual assistants and AI-driven chatbots to enhance convenience for customers. Banks and, in fact, financial institutions can integrate MetaCircle solutions into their operations and offer more easy, instant and virtual solutions to their customers — at jet speed.
Please visit our explorer to learn more about our applications.
U.Today: Share some details about Diamante Foundation. Which role does it play in the progress of your blockchain?
Chirag Jetani: Diamante Foundation plays a crucial role in supporting ambitious projects within the ecosystem. The foundation offers investments to promising ventures that aim to bring in impactful change. Diamante Foundation also offers grants to support growth, diversity and development to the up and coming projects. Our teams extend to provide substantial resources needed and advisory support to these projects to help navigate the complexities in the fast-growing startup ecosystem.
Additionally, the Diamante Foundation is dedicated to raise awareness about blockchain, cryptocurrency and the adoption of innovative technologies on a global scale.
U.Today: Name the most trending solutions you’re going to see powered by Diamante Net in the coming years.
Chirag Jetani: Going forward, some of the most trending solutions powered by Diamante Net will include Quantum Sync and ILP Bridge. These solutions will facilitate integration with leading enterprise networks such as Fabric, Solana and Hedera.
Diamante Net will establish Layer 2 bridge services for connecting scalable Layer 2 solutions like Becknprotocol and others, enhancing interoperability and scalability across various blockchain platforms. Gaming, creator economy, digital identity solutions and population scale solutions are something we are excited about. Our research teams are diligently working to develop innovative solutions to address challenges in these domains.
U.Today: What are your plans for the upcoming bull run?
Chirag Jetani: Our prime focus, at the moment, is DIAM. We are working to increase the utility of our coin and would like to see more users join our vibrant community. Soon, it will be listed on the leading exchanges, and users can utilize DIAM and access the entire Diamante and its partners’ ecosystem. Furthermore, we are broadening DIAM’s applications to cater to the needs of diverse industries.
As for our plans for the upcoming bull run, we are strategically positioning DIAM to capitalize on market opportunities. We are ready to ride the wave of growth and expansion with our assets.
U.Today: To sum up, what would be your main advice to your potential customers? How can they reach out to you?
Chirag Jetani: I would advise potential businesses and individuals to leverage the innovative and secure solutions offered by Diamante Blockchain and utilize our ecosystem, dApps, powered by our robust network, Diamante Net. There are high chances for ambitious projects to receive the Diamante Foundation grants, tech resources with 24/7 assistance on technology and the advisory side of the projects as well.
We are open to all industries, and our teams are ready to help, develop and deploy top-notch products and applications on our L1 blockchain and AI. You can always reach out to our Global Partnership Manager, Yogesh Achari on Telegram: @yo_achrr or email at yogesh.achari@diamanteblockchain.com or we are also active on our social media handles — please feel free to leave a message, and we will get in touch with you.
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