Blockchain technology and cryptocurrencies are shaping the way economies and people do business across the globe. The diamond industry is an extremely complex one, where the verification, certification, and price of this precious stone vary widely across the diamond market and among dealers too. The Carats’ blockchain project is creating a new algorithm that will decentralize the diamond market and create a platform that will transform precious stones into valuable means for a financial transaction using the Carats.io token.
Considering all the risk involved with diamonds, the Israeli diamond exchange is working in alliance with Carats.io to tokenize these precious stones, using blockchain technology.
What is Carats?
Carats is a big data solution company that is using blockchain technology to tokenize the diamond industry by creating a safer ecosystem for the safe, storage, transfer and trading of diamonds using cryptocurrency. They are working with one of the largest diamond exchanges in the world to create a decentralized system to make diamond trading safe for all.
How it works.
Carats.io intends to make diamond into a commodity and then tokenizing the precious stones which will allow end-user to exchange their certified diamonds for the carats token. This will create a new financial market for diamonds based on their value in the real-world market. Carats.io is working with an algorithm that verifies the quality of diamond in the daily market and has a regulated price. The company intends to value and price over three million diamonds worth over a billion dollars using the Diamond Pricing Algorithm to establish a stable and reliable price of diamond using the Carat Token.
Consumers and dealer will exchange their diamond for the carat token stored in the vault of the Israeli diamond exchange and audited at intervals by Ernst & Young.
The Team Behind Carats
Carats.io team is a group of intelligent people with a proven track record in technology, commodity market, finances, and law. They are working tirelessly to bring the diamond commodity market into the 21st century using a token and cryptocurrency solution. The idea was born in the last quarter of 2016 and holds its first token generation event in Q2 2018.
How to invest in carats
The investment into carats is categorized into three parts;
Carats.io starts its public token pre-sale several weeks before its original date due to the high demand and progress made by the regulatory agencies. They have also had a few investors come on board like the accounting firm Ernst & Young. Pre-sale buyers will enjoy various bonus and discounts depending on the entry date.
The CARAT Token Generation Event will be open for exactly one month. The carat tokens are available for purchase in ETH/USD/EUR from within the carats.io platform
Risks of the carats.io
The carats.io token represents the real diamonds. The system provides a unique, transparent, informative system for all stakeholders. There is really no imminent risk yet as the tokens safeguard your diamond stones. In cases of lose, your data stored on the system is used to clarify any issues that might arise.
The global diamond industry has always been a transparent and genuine establishment because of the rules and regulations that govern the international diamond organization. Now with the innovation of blockchain technology, Carats.io is creating a comprehensive database where diamonds are properly secured by the use of a token. This is to stop the theft of the precious stone and gradually eradicate the blood diamond market.
Visit the website for more information: https://carats.io/
Download the White Paper: https://carats.io/whitepaper.pdf
Join the Telegram Community: https://t.me/caratsio