LONDON, UK / ACCESSWIRE / November 28th 2018 / Disruptive diamond trading platform, CEDEX is live on one of the leading cryptocurrency exchanges, Coinbene. The CEDEX exchange which focuses on redefining the way and manner of operations within the global diamond marketplace is leveraging blockchain and machine learning technologies to achieve its goals.
Making The Diamond Market Transparent
Having existed as an exclusive market over the years, the activities of CEDEX is aimed at opening up the global diamond market. This innovation will transform diamonds into a new financial asset class, allows people to liquidate and trade in diamonds across the globe.
Until now, the diamond market has been operated in an opaque environment and surrounded with extreme exclusivity. This situation has obviously subdued the potential of the commodity and hindered it from assuming the position of a viable financial asset class.
All this is about to change with the introduction of the first transparent diamond exchange, CEDEX. The exchange incorporates blockchain technology and a unique machine learning algorithm that rates diamonds by their real market value. The CEDEX exchange will create a two-sided market that takes advantage of those changes by bringing together diamond dealers and private diamond holders on the supply side with commodity traders and cryptocurrency holders on the demand side.
A Rallying Point For Digital Assets
Based in Singapore, one of the world's blockchain-friendly nations, Coinbene has established itself as one of the world's largest crypto exchanges. The exchange is popular for its wide range of assets, which gives users an opportunity to perform most of their trading tasks without switching platforms.
Listing on a major exchange usually signifies advanced steps for projects in today's blockchain ecosystem. This move automatically opens up the opportunity for expansion, and coin accessibility. It also affords the participants in the blockchain community an adoption gateway to benefit from the provisions of the CEDEX project.
A Market In Desperate Need Of Scaling
The current B2B diamond trade market is valued at ~ $60 billion USD a year, of which $20 billion USD is the amount spent by consumers on merchandise purchases. Only 5% or $1 billion of this $20 billion market is used for investment purposes. This large discrepancy is the result of a lack of pricing transparency, liquidity, and standardization.
By introducing a transparent, liquid and standardized platform which is made available to all on a globalized exchange, the diamond market is set to scale significantly. The CEDEX technology will permit decentralized diamond rating and enable investors at all levels to trade the commodity with no requirement of prior diamond knowledge.
Blockchain remains a disruptive technology that is affording humankind the opportunity to find better ways of executing existing processes. Despite the reluctance in some quarters over innovations that would breakdown certain monopolies and control, the benefits of the technology are clear to be seen.
By listing on a leading exchange, CEDEX takes the leap to venture into the mainstream and effect the much needed change in the age long diamond market that desperately seeks a new lease of life. Saar Levi, CEDEX CEO says: "After launching the CEDEX platform this week, we are thrilled to have the CEDEX Coin listed on a major exchange like CoinBene. This is another step in the CEDEX evolution towards creating a new diamond financial market"