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Innowise is an international full-cycle software development company founded in 2007. We are a team of 1600+ IT professionals developing software for other professionals worldwide.
About us
Innowise is an international full-cycle software development company founded in 2007. We are a team of 1600+ IT professionals developing software for other professionals worldwide.

Diamond tokenization platform: x10 surge in investor engagement

Innowise developed a blockchain-based platform to streamline the trading of industrial lab-grown diamonds.


Client since

Our client is a supplier of industrial lab-grown diamonds located in the USA. The client specializes in the global distribution of precious stones. 

Detailed information about the client cannot be disclosed under the terms of NDA.


Overcoming traditional diamond trading barriers

The client faced significant challenges in traditional diamond trading, primarily because investing in diamonds involved substantial hurdles. These included high costs for physical storage, the need for intermediaries, and limited secondary market accessibility. Such inefficiencies complicated the process for global investors, severely hampering their ability to participate effectively and stifling overall market liquidity.

To address these challenges, our client sought a solution to tokenize diamonds. This approach enables clients to purchase and own tokenized diamonds while storing them physically in our client’s warehouse. Furthermore, they wanted to facilitate direct transactions between customers and the client’s platform eradicating any third-party interactions.


Tokenizing industrial diamonds through a Web3 platform

Innowise has developed an asset tokenization platform that allows users to purchase tokenized diamonds that are stored at our client’s warehouse. This innovative solution effectively addresses several critical challenges in the diamond industry. By storing the diamonds in our client’s secure warehouse, customers significantly reduce the costs associated with physical storage. Furthermore, the platform enhances transaction efficiency by facilitating direct payments, thereby eliminating the need for third-party intermediaries. This expands market accessibility, making it easier for a broader range of participants to engage in the diamond market. More so diamond tokenization opens up new opportunities for investment and trading.

Token management system

Our solution’s backbone is a token management system that facilitates seamless asset management. By leveraging Polygon blockchain technology, we created a smart contract factory — each contract representing a unique diamond type. This granular approach allows for precise tokenization, where each token is a digital stand-in for a physical diamond.

Minting and burning tokens

Owners can mint new tokens when diamonds are certified for trade and burn tokens when diamonds are sold or removed from the market. This dynamic capability ensures that the digital representation always matches the actual stock, preventing discrepancies and maintaining market integrity.

Token transfer and management  

Tokens can be transferred from the treasury to sales platforms or under the control of Multisig for large transactions. This flexibility in token movement results in liquidity and accessibility, enabling efficient market operations.

Advanced security measures

Our team has implemented a series of robust features designed to safeguard transactions and uphold strict regulatory standards:

User blacklisting 

The asset tokenization platform gives owners the power to blacklist users who engage in fraudulent or illegal activities, mirroring mechanisms found in USDT, USDC stablecoins. This feature guarantees that the platform remains secure and trustworthy, deterring malicious behavior and protecting all users.

Comprehensive transaction oversight

We maintain meticulous logs of every transaction that takes place on the platform. This not only aids in providing clear audit trails for regulatory compliance but also enhances transparency across all operations. Each transaction can be thoroughly audited, ensuring that all activities are conducted in a transparent and accountable manner.

Smart contract-enabled KYC compliance

Innowise has integrated KYC processes directly into smart contracts unlike many projects that handle this on the front end. The platform utilizes Soulbound tokens, which are essential for interacting with smart contracts so that only verified users can participate in transactions. We offer basic and advanced levels of verification, allowing for tailored security measures according to user engagement.

Oracle integration

The Web3 platform leverages an advanced oracle system to streamline the token issuance process, ensuring it aligns with the actual physical inventory. The oracle continually pulls in data from a dedicated organization that monitors industrial diamond stock levels. The system limits a number of tokens that can be issued.  Furthermore it verifies the number of tokens for diamonds of the specific standard (size, purity, color). This critical function prevents token oversupply, safeguarding each token’s integrity as a true representative of physical assets.

Enhanced user experience

Creating a user-centric and efficient platform is a top priority for user engagement and satisfaction.

Direct token purchases

We have streamlined the process of acquiring tokens by enabling users to purchase them directly through the platform. This simplifies the transaction process and reduces the time and effort users spend navigating through multiple steps or intermediaries. The direct purchase option supports instant transactions, making it convenient for users to invest in industrial diamonds anytime.

Detailed account management

The platform provides users with comprehensive tools to manage their accounts effectively. Users can easily access their transaction history and check their token balances through a user-friendly dashboard. This transparency is crucial for effective portfolio management, as it allows users to track their investments in real time, review past transactions for better financial planning, and assess the performance of their holdings. Moreover, users can download their transaction history to facilitate the preparation of tax reports. Detailed account management helps foster trust and security, as users can verify all their transactions independently, ensuring that their investments are handled accurately and transparently.


We also implemented a redemption feature, enabling USA users to exchange their digital tokens for actual diamonds.

As a precaution to guarantee compliance and security, the redemption process includes several additional verification steps. These measures are critical for confirming users’ identity and eligibility, safeguarding transaction integrity, and aligning with stringent regulatory requirements.

By enabling direct redemption of tokens for physical diamonds, our client provides tangible value to its users, fostering greater trust and engagement with the platform.


We have incorporated a vesting feature to enhance the token management system further. This allows for the gradual release of tokens according to predefined schedules, which can be crucial for managing market supply and helping stabilize token prices over time. Vesting also serves as a commitment mechanism for investors, encouraging them to remain engaged with the platform for a longer period of time. This strategy helps maintain a balanced market and builds investor confidence by aligning token distribution with market growth and development goals.



React JS, Ethers, Tailwind


Node.js, Nest.JS, TypeORM, Rest




Git, BitBucket


Devtools, Postman, Gnosis Safe, BC Explorers, Playwright, GitHub Actions


AWS EC2, RDS (PostgreSQL), Redis


Docker, Docker Compose


Initial discovery phase

During the asset tokenization platform development, we engaged with the client to gather their requirements and understand their needs. Our team created a Vision and Scope document to clearly outline the project's objectives and deliverables, setting the stage for all subsequent development activities.

Adopting the Scrum methodology

We adopted Scrum, an agile development methodology, to ensure flexibility and responsiveness throughout the development process. The approach allowed us to organize the project into sprints. This facilitated incremental development and regular reassessments of the project’s direction and priorities based on ongoing feedback.

Regular updates and feedback sessions

Using communication tools like Microsoft Teams and Jira, we maintained a continuous loop of updates and engagement with all stakeholders. We also conducted regular feedback sessions to gather insights and input from the client and other stakeholders.



Project Manager


Business Analyst


UX/UI Designer


QA Engineer


Solidity Engineer


DevOps Engineer


Front-end Engineer


Full-stack Engineers




x10 increase in investor accessibility and significant cost reduction in storage and intermediary fee

The deployment of our blockchain solution has driven several benefits for our client in diamond trading. 
  • Streamlined trading process: By cutting out intermediaries, we have simplified the trading process, leading to substantial cost reductions and less complexity. 
  • Market expansion: The tokenization of diamonds has broadened market access to a diverse range of investors. 
  • Increased regulatory compliance: The advanced KYC and transaction monitoring setups have guaranteed all trades comply with international regulations. 
  • Operational transparency: The capability to track transactions and manage tokens with full visibility has reassured investors and regulatory bodies about the system’s integrity. 
  • Innovative redemption and vesting features: The rollout of the redemption feature has enabled US users to convert their tokens back into physical diamonds directly, providing tangible value and enhancing trust. Moreover, the introduction of a vesting mechanism has balanced the market by regulating the release of new tokens, which supports sustained value and avoids market saturation.
Project duration
  • March 2023 - March 2024


increase in investor accessibility


cost reduction in storage and intermediary fees

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