Trust Model
The Trust Model involves the integration of several top-tiered relationship components that provide the DBK Coin purchaser with a level of trust, security, safety and transparency of the Diamond Trust and the DBK Coins being issued, fulfilled and sold. The following relationships ensure the highest level of integrity:
• PwC – Advisory Services for the business and assurance services provider. Annual audit and verification of Diamond Reserve Trust.
• GIA – Grading services with respect to the quality of the individual diamonds placed in the
Diamond Trust
• Rapaport – Pricing Model on the individual diamonds
• Lloyd’s of London syndicate Willis Towers Watson – Insurance of the Diamond Trust assets
• Brink’s Global – safeguarding Diamonds in secured vault facility
• Winchester Global Trust Company Limited – trustee of the Diamond Reserve Trust, such that the diamonds and the tokens can exist in perpetuity with or without the participation of the DiamondBack Group.
Definitive agreements have been entered into with PricewaterhouseCoopers, Brinks Global, and Willis Towers Watson. The DiamondBack Group has arrangements with Winchester Global Trust Ltd to ensure that a transparent, traceable, reliable, and secure trust structure can be implemented in tandem with the launch of the DBK Coin offering. It is envisaged that the reliability of this Trust Model will contribute significantly to DBK Coin’s popularity, usage, and success, setting DBK Coin apart from other Stablecoins in the cryptocurrency market.
DBK Coin’s Trust Model is designed so that a portion of the funds received by sale of DBK Coin will be used to cover the insurance and trust management of the Diamonds in perpetuity. These will be scaled as the amount of DBK coins issued increases.
Last updated