The World’s First Diamond-Backed Cryptocurrency Is Here

It’s called PinkCoin.

The world’s first diamond-backed cryptocurrency, PinkCoin, will go on sale beginning Jan. 18, according to Rapaport. PinkCoin, the report adds, is backed by colored diamonds, which the founders of the cryptocurrency claim have not lost value since tracking began in 1959 and have been independently certified and appraised. The initial public sale of PinkCoins will be based on an “asset pool” of colored diamonds worth $5 million. Once sold, PinkCoins will be able to be traded for Bitcoins or even individual gems from the asset pool.

Read more at Rapaport