Does the project benefit from being on the blockchain? Should it be on the blockchain?
Yes, 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 diamonds 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.