Diamond Trading Revolutionised by Blockchain Based Exchange

Diamond Trading
Diamond Trading Revolutionised by Blockchain Based Exchange

Trade diamonds with ease and transparency, – says blockchain based diamond exchange CEDEX aiming to revolutionise the usually murky diamond trading industry.

Investors with diversified portfolios traditionally regard precious metals and diamonds as the most stable stores of value and use them to hedge against inflation and the stock market. Gold and other precious metals are easily available to investors. Diamonds, however, are quite a different story. Only those with significant knowledge of the industry feel confident enough to invest in precious stones.

For the past years there have been numerous attempts to bring the diamond trading closer to a general investor, but none of them have succeeded so far.

The new kid on the block, CEDEX, (Certified Blockchain Based Diamond Exchange) aims to revolutionise the traditional diamond trading industry and enable any investor to liquidate or invest in diamonds like any other financial asset.

CEDEX claims that anyone holding diamonds can literally upload their precious possessions to CEDEX either as a single stone, shares in a high-value diamonds or as a diamond basket that can be sold to multiple investors.

CEDEX is overhauling the diamond trading industry using blockchain technology. Apparently, blockchain resolves the problems of liquidity and transparency of diamond trading. They also use a clever machine learning algorithm – the DEX – that is able coherently and transparently to evaluate diamonds. With a pricing accuracy rate of over 99.5%, the DEX is able to establish a much higher level of standardization for diamonds than has ever been possible before.

“Thanks to the DEX, our machine learning algorithm, and blockchain technology that rates a diamond’s asking price, the value of any diamond listed on the Exchange is completely transparent: liquid because it creates a two-sided market by enhancing both the supply and demand and standardised because CEDEX creates a unique benchmark value, rate and smart contract for every stone”

Read the original article on Bitcoinist.com. © 2018. Follow Bitcoinist.com on Twitter