Blockchain technology is well known for enabling secure and transparent transactions with immutable records. CEDEX.com, a global exchange focusing on bridging the gap between traditional diamond industry and innovative financial markets will soon give you an opportunity to buy diamond over the public Ethereum Blockchain.
Diamond is one of the most valuable precious stones on earth and its demand has remained relatively high even during hard economic times. Due to this demand, fraudsters have sometimes infiltrated the market causing considerable loss to unsuspecting people. With CEDEX, it will be impossible for anyone to defraud you because the record of every transaction will be available on the blockchain database for evidential purposes.
No prior Knowledge Needed
You do not need prior knowledge or experience in trading with diamond. The value of diamond listed on the trade will be completely transparent. This will be made possible by DEX, a machine learning algorithm that can rate a diamond’s asking price.
Once you have purchased a diamond, it will be kept safe and you will keep the smart contract as evidence of ownership. You can sell your diamond or shares in a basket of diamond by transferring the smart contract for value over the public Ethereum blockchain to anybody anywhere in the world.
Diamond traded on CEDEX will be extremely liquid. If you have some background in business, you may be aware that liquidity is largely determined by demand and supply. Where there is a balanced demand and supply, there will always be liquidity. CEDEX creates a two-sided market by enhancing both demand and supply of Diamond.
CEDEX has put in place interventions to ensure that the price of diamond will be standardized by creating a unique benchmark value, rate and a smart contract for every diamond. Smart contracts work in such a way that it automatically executes once certain conditions are met. Therefore, if any transaction does not meet the benchmark value determined by CEDEX, the contract will not execute, there will be no transaction.
The Magic behind the Diamond Exchange
CEDEX Exchange will be powered by an ERC-20-compatible token known as CEDEX coin. The token will be traded over the public Ethereum blockchain to enable you to purchase diamonds on CEDEX, transforming your assets into diamonds.
What You Need to Know about CEDEX coin
- CEDEX coin will be listed on leading exchanges
- It will be completely transferable to other cryptocurrencies
- It will be transferable to fiat currencies
- It will be the only means of payment on the CEDEX exchange
- The supply of CEDEX coin will be limited
- CEDEX coins offered for sale and not bought will be burned
Both token pre-sale offering, and token public sale offering will take place in the first quarter of 2018- which is just days away. However, pre-sale registration is already open.
You can read the white paper to find out more about this interesting innovation.
For more information, see the official Press release of CEDEX.