A token that can be use to buy Diamond in the cedex exchange, is this really achievable? i mean diamond are really expensive not just something you come across easily, and since diamond are expensive i wonder how this transaction will be possible, beside is it legal, is the project available to all country or limited to certain countries. Great concept though.
One of the team members answered this in telegram, just posting it below:
Evgeni:
> cardo yasilad
> A token that can be use to buy Diamond in the cedex exchange, is
Hi Cardo,
Let me answer your question.
First of all, there are different types of diamonds and every diamond is unique. Diamond prices can start from few hundred USD and reach prices of hundreds million dollars (unique and rare diamonds)
Regards the trading at our platform:
CEDEX Coin holders will be able to use their tokens once the sale is completed and tokens are distributed.Tokens will be used for the following services:
To certify diamonds in gemological labs
For secure and insured transportation services for the tokenized diamonds
For insurance services
For custodian services -Allowing the diamond holder to keep assets at the custodian.
Once the CEDEX Platform is up and running, Tokens will be used in the following ways:
Traders who want to purchase diamonds via Diamond-Smart Contract on the CEDEX platform will have to purchase CEDEX Coin to carry out their transactions.
Payment to and for all service providers, such as the gemological labs, custodian, insurance and transportation will only be done using CEDEX Coin.
Later, once additional financial products are developed, traders opening a short position will use CEDEX Coin to cover the collateral and borrowing fees.
Traders will be able to use their portfolios as collateral to receive CEDEX Coin loans.
Purchasing diamond derivatives.