Blog

Child mining in Congo

CBS news is reporting children, some only 4 years old, are being used to mine cobalt in the Democratic Republic of Congo. An Amnesty International report says, “The glamourous shop displays and marketing of state of the art technologies are a stark contrast to the children carrying bags of rocks, and miners in narrow manmade tunnels risking permanent lung damage.”

In an updated report, almost 18 months later, they stated, “More than half of the world’s cobalt, which is a key component in lithium-ion batteries, comes from the DRC [Democratic Republic of Congo], and 20% of it is mined by hand. Amnesty International documented children and adults mining cobalt in narrow man-made tunnels, at risk of fatal accidents and serious lung disease.”

While these reports aren’t concerned with diamonds, it is not a difficult leap to think mining methods in Africa are similar.  If you’re not interested in wearing a blood diamond, put your engagement on the blockchain.

child-labor

Paper Wallet

Young people are putting off marriage because of challenging financial barriers.  Marriage has become a consumer obsessed marketing gimmick, rather than being about love, commitment, and long term planning.  If you don’t want blood diamonds, and want to make a smart financial decision, use our paper wallet to store your Ouroboros Token.  label_design01 (1)

Engraved Wallet Number

How does Ouroboros Token attach a wallet number to a manufactured diamond?  The alphanumeric combination is engraved using a very small laser.  The engraving is not visible to the naked eye, and so it doesn’t affect the clarity of your stone.  IMG_3208

The stone in the photo is engraved with “87a409e” the last 7 digits of 0x8E3Af3C10bE9d807b2B0c5BdC1e4cF7f087a409e the wallet address for the ICO.  If you’re tired of the ethical issues that come with mined diamonds, or you’re tired of missing out on the investment returns you would get from investing the money you would spend on an engagement ring, put your engagement on the blockchain with Ouroboros token.

IMG_3207

 

This Blockchain Start-up will Kill the Diamond Industry

Where did that diamond you’re wearing come from? Odds are, you have no clue. Probably Africa. Did it fund a warlord’s bloody coup? Was it mined by a child? Are they “Diamonds from Sierra Leone?

kanyediamonds

Since large diamond deposits were found in Africa in the late 1800’s, the diamond industry has destroyed the environment, destabilized governments and enslaved parents and children.

childmining

But there is a solution. The Blockchain, the technology behind cryptocurriences like Bitcoin, runs a decentralized ledger- a database that is spread out all over the world. In the past, diamond production was controlled by one centralized company called De Beers. This is the same company featured in the Leonardo DiCaprio movie “Blood Diamond”

-

Not only did cartels previously control all sales of new diamonds, but they also advertise heavily against reselling diamonds. “A diamond is forever” the ads say.  So diamonds wreck the environment, cause social upheaval, are price inflated, and can’t be resold. How does the blockchain solve these issues?

forever

A company called Ouroboros Token is currently issuing an ICO that is open to US participants, as well as worldwide. Token holders buy a spot in their “vault”, and deposit an amount of their choosing. The vault number is engraved on the jewelry of their choice, such as a factory manufactured diamond, moissanite, of an heirloom piece of family jewelry.

diamond_engraving

This means the jewelry is backed by real money, and not an idea like “a diamond is forever”. This keeps the traditional look and feel of diamonds, without all the negative results. Furthermore, it allows the large sum of money normally spent on a diamond engagement ring to be properly invested. New couples starting out have many expenses, and spending $6,000 (2017 average cost) on an environmentally dubious, humanitarian disaster, mined diamond is not an “investment” at all.

inside_engraved

Blockchain backed diamonds still have the beauty and tradition of mined diamonds without any moral or ethical issues.  The ICO is available to any participants- go to www.ouroborostoken.com and send ethereum to the address on the website. If you’re new to cryptocurriences, go to myetherwallet.com. Avoid the financial and moral pitfalls of mined diamonds, and step into the blockchain with ouroborostoken.com.

Diamonds are the original shitcoin

Diamonds are the original shitcoin.  Nobody knows where they come from, what they’re worth, and they’re all pre-mined.  Cartel companies encourage you to hodl for a lifetime- they insist “a diamond is forever”.  Every engagement ring makes the buyer a bagholder.  And there is no exchange to sell them on- if you’re lucky enough to find a buyer, you loose half the value immediately.  They’ve had 75 years of advertising shilling for them, in every facet of popular culture.

Furthermore, diamonds have been complicit in government coups, humanitarian violence, child slavery, and ecological & environmental disaster.  The movie “Blood Diamond” and the song “Diamonds from Sierra Leone” are good examples of the turmoil created by the diamond industry.

Ouroboros Token aims to change all this.  Using factory made diamonds (or any item you want, really) we engrave your token number into the ring and the stone.  Your token number is also your vault number, and any amount or denomination can be deposited into the vault.  You can then check your vault balance anytime, making your ring worth the amount you deposited plus gains.  If times get tough, you can borrow against your vault value, and if things go sour with your SO, you can close your vault and keep your money.

The pre-ICO ends February 14th, tokens on sale for .02 ETH until then.  0x8E3Af3C10bE9d807b2B0c5BdC1e4cF7f087a409e