Diamond Circle

Rum, Sunlight and Bitcoin

Posted by Stephen Rowlison on December 28, 2013. 0 Comments


Australia's Diamond Circle, a to-be authorised money remitter, is taking Bitcoin to the mainstream, with ATM and stored value solutions for the global retail sectors. Innovative payment methods are no stranger to Australian society, and the first Aussie negotiable currency, was rum. Just over two hundred years later Bitcoin is becoming a mainstream currency down under.  Stored value cards are a regulated technology and Diamond Circle use highly secure Near Field Communications devices which compete well with Apple, Android and fiat payment providers.
The Australian regulatory marketplace has evolved with its largest 4 banks amongst the top 20 rated banks in the world, and Australia is regarded as one of the safest and stable financial jurisdictions globally.  Diamond Circle founder Stephen believes that secure payment regulation and anti-money laundering will differentiate their offering. Diamond Circle believes that full disclosure and its "know your Customer" processes will enable mainstream users, shoppers and investors to safely use Bitcoin.
is supported by Trent Churchill a veteran miner who has made a living from Bitcoins over the last few years. Steve and Trent’s innovation are being supported with compliance systems advisor Mike Oswald. "Sunlight is the best disinfectant" so transparent anti money laundering compliance is required at Diamond Circle. Diamond Circle has successfully raised Bitcoin seed capital from private investors via the crowd funding platform, and is now exploring partnerships with major retail chains such as Overstock and Alibaba to enable shoppers to have a single, secure, regulated, crypto-currency, stored value solution.
Diamond Circle will launch their ATM solutions, with the support of a global manufacturer, based in Texas USA. Initially we were going to let customers convert their alternative coins to a cashier’s check at the machines, said Rowlison . "Now that the have opened their doors to us, we will add funds transfer to both consumers and for our end of day . Merchants will be able to exchange coins in store and online, but to ensure regulatory compliance Diamond Circle have enlisted the support of the Microsoft Azure platform, a comprehensive and cohesive big data solution that supports 5 billion transactions per day", said.
"Our ISV community is alive with innovation, and we’re committed to helping our partners drive the next generation of software experiences," said Ross Brown, Vice President of ISV and Solutions Partners for the Worldwide Partner Group at Microsoft. "Adding compatibility for the latest Microsoft technologies helps ISVs to stay ahead of the competition and give their customers access to cutting-edge technologies."
Diamond Circle( DC) is a regulatory compliant (Anti-Money Laundering, and Global Money Transmission) money transfer service for investors, and global users to access Bitcoins and other alternative investment crypto currencies. The DC management and advisory team have extensive experience in the design, delivery and management of regulated financial institutions. Diamond Circle delivers monetary authority compliant systems (for example Hong Kong Monetary Authority compliant) to meet the demands of money transmission and global use of the Bitcoin and crypto currency market.
The Diamond Circle platform enables major partners to become investment gateways, global travel card and e-commerce shopping enablers- in a totally transparent and compliant environment. DC's secure systems and compliance include dispute resolution and consumer protection frameworks. DC offers the IT infrastructure and cashless ATM facilities to enable alternative currency users to access an affordable payment and money transmission system. The DC platform is and will continue to be fully compliant with stored value card regulatory network.
The Diamond Circle option will be compatible with Paywave™/Paypass™ systems and Bank ATM cash to card facilities. Bricks and mortar retail and wholesale merchants are already accepting Bitcoin as an alternate form of payment.  DC offers fixed and mobile devices which not only allow consumers to purchase goods and services using alternative currencies (Bitcoin and beyond) securely.
The DC exchange platform provides liquidity in the form of alternative coin and comparative currency (fiat). Mining is a process of confirming transactions and creating new alternative coins using high speed computers. DC can enable the developing world to mine an alternative crypto currency coin ‘XDC’ at low cost. Built on Microsoft Azure, the DC software enables us to deliver an auditable and responsive regulatory reporting platform using SQL business intelligence tools.
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