It is about time that the diamond industry has its fair share of competition. Over the years, diamonds were controlled by a powerful firm from the United Kingdom – the De Beers. The De Beers understand it all too well that the industry of natural diamonds could be on the brink of collapse. This is due to the fact that the synthetic diamond, the new kind on the block. It turns out that these synthetic diamonds have so much more to offer than the normal mined diamond. You see, aside from being a great piece of jewelry, it has been found that diamonds also make great semiconductors. Certainly, a major success for the industry.
Synthetic diamonds, as the title alludes, is a diamond that is lab-grown. In essence, these kinds of diamonds are the result of pure carbon that is exposed to extremely high pressures and temperatures in order to come up with an almost perfect gem. The way this works is more or less the same way that earth does it when it first made diamonds in its core more than 3.3 billion years ago.
Pure carbon is placed into a chamber and is subjected to around 2,200 Fahrenheit and almost 50,000 atmospheres. In a span of around a few hours to a few days, the carbon will transform into a brilliant diamond. This type of technology has brought the prices of diamonds remarkably lower. Due to this, the $7 billion natural diamond industry is under threat. This has led the De Beers to craft a subtle yet clever way to set themselves apart.
Essentially, they’re putting their logos on all of their diamonds so that people will know that it is the real thing and not a fake. Quite frankly, this effort might be futile since synthetic diamonds have more uses than natural diamonds.
A lot of start-ups and venture capitalists are very interested in the new kind of technology. Two main companies, Gemesis, a Florida-based company, and Appollo Diamond from Boston, understand just how important and rewarding this sector can be. Silicon semiconductors can only heat up to around 200 degrees Fahrenheit.
On the other hand, diamonds are capable of reaching well beyond this number and still bear no harmful effects. At this level, diamond semiconductors will be able to process speeds well above our current levels. This suggests a burgeoning industry that is waiting to be filled. Along with that, the jewelry industry will have its much need break from the astronomically high prices of mined diamonds.
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