Does the project benefit from being on the blockchain? Should it be on the blockchain?
CEDEX utilizes the Ethereum blockchain CEDEX.com is a global exchange that focuses on bridging the gap between the traditional diamond industry and the innovative financial markets. With its extensive industry knowledge, CEDEX wants to engineer a groundbreaking change: enabling people to liquidate and trade in diamonds like any other financial asset, in a transparent and secure way.
CEDEX is creating a platform to bring together diamond supply and demand for trading in diamonds. On the supply side, CEDEX is targeting two main sources of supply: diamond dealers and private diamond holders. Diamond dealers looking for a new distribution channel to list their stock have already expressed interest in offering their diamond inventories on the CEDEX Exchange. On the demand side, there are two main purchaser groups: traditional purchasers and cryptocurrency holders.
for its payment solution. Blockchain technology is also powering the underlying CEDEX project in order to create diamond smart contracts. In the first phase, the smart contracts will be issued through a simple process that is initiated once a diamond holder lists a diamond for trade.
The simple interface creates a smart contract on the CEDEX platform backend. This contract represents a diamond’s gemological data and any other information to allow for the creation of a financial product that represents the underlying asset, i.e. diamonds. As the blockchain-technology based CEDEX ecosystem evolves, we anticipate the financial market will adopt diamonds as a new asset class for trading.
Creating diamonds smart contracts is beneficial to the entire ecosystem in many ways:
No additional transportation and insurance are incurred as long as trade remains within the ecosystem.
All transactions using the CEDEX Coin save fiat-currency transaction charges.
The diamond’s origin and all transactions are documented on the Smart Contract.
The execution of trades is executed quickly and efficiently, or P2P, without any third-party involvement.
Open blockchain technology allows anyone to collect, aggregate and analyze the data for their own purpose.
CEDEX is governed by smart contracts and all transactions including payments in and withdrawals out by traders are governed by the Ethereum blockchain. They happen instantly and CEDEX management has no say or hold over this process.
