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How can I trade diamonds with Bitcoin? How can I trade metal values with crypto currencies?
The Israel Diamond Exchange President says:
Diamonds, as Gold, is an eternal precious commodity and is a top market in Israeli.
Thanks to Our state-of-the-art diamond pricing algorithm, the full cooperation with the Israeli Diamond Exchange and use of blockchain technology are transforming the diamond industry by commoditizing the previously uncommoditizable.
How can I trade Diamonds with Bitcoin?
The main phases are:
- On a daily base, the data from the Israeli Diamond Exchange is collected and used to populate a database with information on hundreds of thousands of stones;
- A proprietary machine learning algorithm analyzes through the database the daily prices and market movements;
- Carats.io platform creates indices to help consumers to predict the market’s overall performance;
- Carats.io has a partnership with the Israeli Diamond Exchange for a private token sale for CRU Token, enabling the purchase of diamonds;
- All diamonds purchased by Carats.io are secured in vaults;
- CARAT Public Tokens are generated for public sale in the Token Generation Event (ETA TBD);
- The Indexes and the others features become tradeable in our trading platform.
Conclusions
Basically the idea is pretty good, but we see some lack of information:
- the whitepaper is unavailable at the time of writing (high risk);
- “the others features” (point #7) are not clear:
- the algorithm is private (comprehensible);
- they have not defined yet the date of Token Generation Event;
- the Private token sale is not comprehensible at all.
Finally, keep attention on entering this ICO. It seems a good long-term investment, but we see lot of risks.
What is Carat?
CARAT is an ERC-20 standard-based Ethereum token (CRU token) that allows everyone in the world to trade diamonds with Bitcoin! Users will be enabled to invest in Diamonds as a kind of commodities and buy diamonds directly at wholesale prices from the Trading Platform.