Carats.io’s introduces the blockchain based service that is the first in the world to commoditize diamonds. Carats.io is undermining the global asset class by imposing transparency and rebuilding with the use of machine learning.
TEL AVIV – April, 2018 – , the diamond backed token, introduces a sophisticated algorithm to compare individual diamond grade and daily market conditions that will achieve the often elusive goal of objective and consistent pricing. Carats.io Diamond Pricing Algorithm (DPA) will price three million diamonds, all valued over one billion USD. The digitization achieves highly reliable accountability, stability, and fungibility, allowing the diamond industry to establish a consumer cryptocurrency, the CARAT Token. Backed by a private digitized reserve of these collective dealers, the CARAT Token represents real diamonds in a transparent and accountable way.
Carats.io’s DPA helps alleviate any price-related anxiety, from both the seller’s and buyer’s sides. The Get Diamond Index (GDX) is the first official diamond market index of its kind, powering the Israel Diamond Exchange. Carats offers the first-ever viable secondary market for diamond commerce, combining the stability of diamonds with the liquidity of cryptocurrency. By tracking daily purchase prices and movement of the GDX, the algorithm provides a reliable, data-driven benchmark of any diamond’s perfect price point, creating a high level of transparency to insure fairness on all ends. The Carats.io DPA uses a sophisticated machine-learning technology to accurately assess the value of its inventory. The Carats.io system runs on:
Commoditization: Diamond prices within the Carats.io platform are linked to the diamond market using the Diamond Pricing Algorithm, which uses the same technology running the Get Diamond Index.
Tokenization: Carats.io developed digital tokens that represent the polished diamond industry, rather than trading the stones themselves. These digital tokens are transferred upon contract fulfillment, eliminating the geographic or temporal limitations of diamond industry.
Standardization: Carats.io self-learning DPA assesses 14 unique parameters, comparing all meritorious aspects of a diamond’s grading against current market conditions to output a fair and objective price value. The Carats.io algorithm incorporates continuous and constant validation, revealing the true market value of any diamond.
Carats.io tokens, CARAT represent real diamonds, and the system provides a uniquely transparent, informative, and empowering environment for token holders. The function of the CARAT Token extends far beyond the simple purchase and sale of diamonds: both diamond dealers and end users can use CARAT Tokens for the safekeeping and transportation of their diamonds. CARAT Tokens are a key feature in the cryptocurrency world as they allow high liquidity and low volatility, backed by the Israel Diamond Exchange.
The Get Diamond Index allows users to conceptualize the performance of the diamond industry. Additionally, it informs the Carats.io DPA, to provide accurate pricing, fostering trust. Indexing certified diamonds from authorized diamond dealers means that after years of repetitive attempts, diamonds can finally be commoditized. As a capable provider of indices, Carats.io allows suppliers to get an educated decision when purchasing diamonds; and buyers to redeem their tokens for fairly-priced diamonds.
Carats.io is beginning the pre-sale of its public token, several weeks before its original date as a result of a large demand and the significant progress achieved by the regulatory agencies. In addition, Carats.io has doubled its backup percentage of diamonds to 50% of the value of tokens issued. The backup percentage is being audited by international accounting firm Ernst & Young. Pre-sale buyers will enjoy various bonus and discount models, depending on the entry date. To obtain CARAT Tokens, they can be purchased by all major at currencies from within the Carats.io platform.
“Carats.io has tokenized the world’s most precious commodity – diamonds. We have allowed financial and crypto markets exposure for the first time to the untouched diamonds market, trading diamond value in a safe and transparent way,” says Avishai Shoushan, CEO of Carats.io. “The CARAT will be the world’s most trusted token. To emphasize this, we are offering complete liquidity, enabling full exchange of CARAT tokens for equally valued diamonds and cash equivalents.”
Israel Diamond Exchange President Yoram Dvash said, “By partnering with Carats.io we are taking the diamond industry to a new level, making diamonds a viable investment channel for a whole new market. This is vitally important for the diamond sector in Israel and the world over. We are proud to play a pivotal role in heralding the next era of diamond trading.”
About
Carats.io is a Big Data solution company for the diamond industry. It offers the first-ever viable secondary market for diamond commerce, combining the stability of diamonds with the liquidity of cryptocurrency. Carats.io is issuing the CARAT Token In collaboration with the Israel Diamond Exchange (IDE), one of the world’s largest diamond exchanges, the company has created the IDE’s official Diamond Pricing Algorithm (DPA) and the Get Diamond Index (GDX). The sophisticated algorithm compares individual diamond grades to daily market conditions, based on not less than 14 diamond parameters. The GDX is the first diamond market index of its kind, based on the daily diamond trading data within the IDE.
