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CEDEX is Transforming Diamonds into a New Asset Class
Bitcoinist | Mar 12, 2018 | 01:00
Since the first diamond was excavated from the ground, the diamond industry has been shrouded in mystery. Only professionals know the actual value of a given stone, and it’s extremely difficult to successfully purchase or sell diamonds at their legitimate market value. CEDEX adds much-needed transparency to the traditional diamond industry.
Turning an Opaque Industry Transparent
CEDEX is engineering a revolution in the diamond industry by allowing the precious stones to be traded just like any other financial asset. Thanks to the transparency and security of a blockchain-based exchange, CEDEX affords individuals the ability to buy and sell diamonds with ease – thus providing some much-needed transparency to an industry traditionally shrouded in mystery. With CEDEX, diamonds are turned into a fungible asset with clearly defined values.
For the first time ever, diamond holders looking to liquidate or leverage their stones can upload their holdings to CEDEX. These uploads may come in the form of a single stone, a shared investment on a high-value diamond, or as a diamond basket sold to multiple individuals. The diamonds are tokenized using smart contracts.
How Does CEDEX Work?
The CEDEX project is comprised of four easy-to-understand main components.
The first is the DEX – a proprietary algorithm which evaluates and rates the Diamond-Token market price and allows regular people to confidently trade in diamonds, without relying on ‘expert’ middlemen.
The second component of CEDEX is the tokenization of diamonds. A Diamond-Token represents a particular stone’s ownership, gem composite and trade history — thus affording users the ability to see exactly where their diamond’s been before.
CEDEX’s third component is a blockchain-based exchange, which provides a secure and effective trading platform for both Diamond-Token owners and investors.
Finally, CEDEX offers the CEDEX Coin — a new cryptocurrency which gives investors and holders the ability to buy diamonds on the CEDEX.com exchange.
The CEDEX Coin
Powering activity on CEDEX.com and the broader diamond ecosystem is the CEDEX Coin. The CEDEX coin is an ERC20 Standard token used as payment to and for all service providers and is a crucial and integral aspect of the CEDEX economy.
The supply of CEDEX Coins will be capped at 100 million tokens, 50 million of which will be available in the project’s public sale offering. 15 percent will be kept for future development and market expansion.
The pre-sale of CEDEX Coins begins on March 16, 2018, and ends when 25 million CEDEX Coins are sold. In the event 25 million CEDEX coins are not sold, the pre-sale will end on April 13, 2018.
After the pre-sale, CEDEX Coins will be available during the main sale. The main sale will begin on March 17, 2018, should the pre-sale sell out within a 24-hour time frame. Otherwise, the main sale will begin on April 13, 2018, and end when the remaining 25 million CEDEX Coins are sold — or 28 days later, depending on which comes first.
CEDEX Coins can be purchased during the pre-sale with Ethereum (ETH), Bitcoin (BTC), Bitcoin Cash (BCH), or fiat currencies at their available market rates.
You can find out more about CEDEX, peruse the project’s whitepaper, and check out its industry-leading team at CEDEX’s official website.
What do you think about CEDEX’s tokenization of diamonds, and the project’s ability to link buyers with sellers while allowing for the trade of diamonds at a fair and transparent market value? Let us know in the comments below!
Images courtesy of CEDEX, AdobeStock
