Atlantis Blue shows yet another real-world application of cryptocurrency, securing Larimar, a semi-precious gem. This stone is found only within a particular dead volcano on the Caribbean island of Hispaniola, alongside the Dominican Republic. Larimar is also known as the Blue Stone of Atlantis, hence the name for the platform. The Atlantis Blue Project exists on the Stellar Network, which is already well established and has a strong reputation in the crypto community. The new currency will be Atlantic Blue Digital Tokens, and it will dramatically improve the entire process of mining and selling Larimar.
Atlantis Blue is made up of the Miners Association, Channel Distributors & Exporters, and Artisans Association, including certified accountants, biologists, artisans, miners, lawyers, and distributors.
What Should You Know about the Gem Larimar and Its Popularity?
To say that Larimar is rare is an understatement. This blue gem is only found in a portion of the Caribbean that used to house a volcano, an area spanning a single square kilometer. Larimar has many reasons for its fame and popularity, including its rarity. Larimar is always among the top five rarest gems on the planet.
Some believe that Larimar is Atlantis’ lost blue stones. This goes in line with Edgar Cayce, the great sleeping prophet, who said these stones would appear on a Caribbean island that was a remnant of Atlantis. Those who believe this origin also believe these stones have healing properties.
Larimar is also popular for its sheer elegance and beauty in jewelry. Finally, those with esoteric beliefs link Larimar to curing illness, bringing clear thinking and calm, eliminating high blood pressure and stress, enhancing communication skills, and attracting fish (for fishermen).
How Highly Is Larimar Valued?
Between its rarity and popularity, Larimar would already be on its way to having a high value. It is also challenging to mine, increasing this price. In fact, some have tried to replicate it in labs and sell the fakes. A polished gram of Larimar may be worth as much as $20, while illegal rough grams tend to sell for about $4, depending on the quality. Like diamonds, Larimar comes in grades.
What Problem Does Atlantis Blue Aim to Resolve?
Although Larimar is highly sought after, it is consistently undervalued. A large portion of this comes from the fact that the miners of this precious gem are taken advantage of by exporters from other countries. Visitors come from around the world and buy Larimar with the promise to pay the miners in the future, not when they physically remove the stone.
These exporters only return months later, and then, they pay a much lower price than the gems are truly worth. They also take another shipment of the Larimar stones at the same time. This process results in miners of Larimar waiting months and months to receive an undervalued payment for their stones, without any guarantee that they will ever see the money.
There are also legal issues with the way Larimar was being sold. Under the law, Larimar has to be cut as well as polished before it leaves the country. Despite the legal ramifications, this was almost impossible to enforce since the Larimar community lacked the proper infrastructure.
Finally, Atlantis Blue will work to stop the proliferation of fake Larimar being sold as real via its single central distribution center. These fakes, combined with the poor practices regarding rough Larimar, mean that miners are lucky to see $0.50 per gram and that artisans involved in the process cannot earn their livelihood.
How Does Atlantis Blue Help Miners Receive a Fair Price?
An outsider actually offered the solution to the miners of Larimar, changing the currency to change the buyers by going digital. The previous international buyers who took advantage of the lack of organization in Larimar mining will no longer be able to purchase the gem like this. They can still show up to the location and buy physical Larimar in person, but they will have to pay the most recent trade price found on the Stellar Distributed Exchange. Token holders will be in control of the price, not these international buyers who previously abused the system.
How Does Atlantis Blue Ensure Stones Are Cut and Polished?
To prevent the problems associated with Larimar leaving the country without being cut and polished first, Atlantis Blue will be creating the infrastructure to ensure all Larimar stones go through the proper process. The community will be constructing a receivership warehouse where all the stones will be collected when they leave the mine. At this location, stones will be weighed as well as recorded. The community is also building an artisan camp, which is where the stones will get their legal status, so they can be exported. They will also create the Atlantis Blue Exchange, the single distribution point.
What Are the Tokens, and How Do You Get Them?
There is a total of 400 million tokens, each of which represents one gram of Larimar. During the ICO, 300 million of the tokens will be sold. The first 50 million will be sold at the price of $0.10 each, with the next 50 million sold at $0.20. The following 50 million will have a price of $0.30 each, then $0.40, $0.50, and $0.60 for the next groups of 50 million. As such, the sooner you invest in the ICO, the more tokens you will receive for your contribution.
The ICO is currently in progress, so you can purchase your tokens on the Atlantis Blue website, using the form near the bottom of the homepage. During the ICO, those who plan on purchasing more than 50,000 tokens can contact Atlantis Blue directly for a discount. Following the ICO, any sale will use the market price, regardless of size.
How Will Atlantis Blue Work?
The entire process begins at the Larimar mine. Mined gems go to the receivership warehouse for grading and weighing. This is also where the values get digitized into the Stellar Distributed Exchange. The stones then go to the Artisan Camp, where they are cut, polished, and regraded. Most are also stored here. From there, they head to the AB Exchange, the only distribution point for Larimar. To become an authorized reseller, a company must register with the exchange. This is where auctions for larger stones will take place. If a token holder wants to exchange their tokens for physical Larimar, they will send their tokens here.
Atlantis Blue should ensure the artisans and miners behind Larimar receive a fair price for their work and prevent rough stones from illegally leaving the country. As each token can be exchanged for a gram of Larimar, there are tangible benefits to investment in the project, in addition to the ability to help a community and protect this gem.