Al Kasir Jewellery Group from Dubai has launched three Crypto assets backed by certified diamonds. The new model uses “blockchain technology for the first time in the world”, according to a press release. The Al Kasir Group is owned by Ahmed Bin Obaid Al Maktoum and Dr. Amit Lakhanpal, an Indian entrepreneur who serves as the president of the company.
Speaking at a press conference in Dubai, Dr. Lakhanpal said: “Cryptocurrencies with their underlying Blockchain technology are increasingly popular […] For the first time ever, the world is about to experience a set of three crypto-assets backed by IGI certified real diamonds. Being backed by a real-world Asset, these three crypto-assets: Al Mas, Al Haqeek and Al Falah are better capable to store and translate value due to a base measure or gauge around which their value revolves”.
He added that the “crypto assets will be available for purchase across the counter as the company aims to open 1000 stores across the world for this in all major markets including South-East Asia, Europe, the UK and the Gulf region”.
