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February 09, 2018, 10:27:06 AM |
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The Israeli Diamond Exchange, which is one of the largest in the world, will issue its own crypto-currencies.
"The new crypto currency will be backed up by purchases of diamonds in the Israeli market and will be displayed as an updated indicator in the trading floor and on various trading Internet sites along with other national and international financial instruments," the exchange explains.
"We create opportunities for people to invest in the market without actually buying and selling diamonds," said Avishai Shoushan, one of the developers of the crypto currency.
The diamond crypto currency will be presented in two forms: Carat - for investors, Cut - for market professionals as a method of calculation. Pre-sale Cut started on February 5th. It is planned to put it into circulation within a few weeks. Release of Carat is scheduled for March.
A quarter of the cost of Carat will be provided by the diamonds of the exchange itself. The managing director of the organization, Eli Avidar, thus conceived the idea of making the crypto currency on diamonds unique.
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