Dor EligulaICO team member replied on 28 Aug 2018
Hey Karnika.
As your review is appreciated, we'll be happy if you'll re-review our project with more details:
- There is a KYC process (all online).
- There is plenty of difference between us and the other ABC's as:
1. Diamonds are an easy-to-redeem commodity. Should you decide to convert your crypto into its real-world value, you’re better off doing it with the most concentrated store of wealth (as diamonds have been proven to be). Just imagine trying to redeem $1 million in gold - you’d need a truck to haul it off. However, $1 million in diamonds can fit in your pocket.
2. Diamonds are still a relatively untapped asset - there is still no financial market for the commodity. With the first financial market for diamond still in the construction phase by Carats.io, an investment now in a diamond-backed currency holds the incredible potential of a soon-to-be unlocked market.
3. Among commodities, diamonds are one of the most stable in value. While gold, silver and other commodities are exposed to financial markets and speculators’ whims, diamonds have remained steady for over three decades (while enjoying a positive appreciation).
4. Diamond-backed crypto lets you profit from interest. Other digital currencies, like Tether, let you store your investment without gaining any interest or appreciation (similar to placing your money in an Index-Linked Certificate of Deposit). With diamond-backed currencies you can enjoy the positive appreciation of these shiny gems.
5. Diamonds are a heterogeneous, varied commodity. They come in many different sizes, colours and forms, and can be redeemed and liquidated into any of these.
Besides the basic utilities (which are innovative by themselves as diamonds are not investable nowadays), our CARAT Token will provide many more utilities that other ABC's may not provide to their token holders:
Buy jewelry with the CARAT Token - Kela.cn recently became the first announced diamond and jewelry retailer that will accept the CARAT as a means of payment.
Get FIAT loans for crypto and diamonds - the CARAT will function as a collateral and financing tool for crypto holders and diamond dealers through the Celsius Wallet.
Peer-to-peer transactions - The diamond-backed CARAT will be used as an official means of payment on the IDEX platform - allowing more than 7,000 professional dealers to trade peer to peer with no middleman
More utilities will be announced soon.
Regarding the milestones - as we're building a long-run project, with long-run objective - we decided to first develop our technology (before the ICO).
That's why we went to an equity round - where a known Israeli VC has backed us with the funds for the technology development and deployment. We decided that before the ICO, everything shall be in place. We dont promise (like many others do) - we deliver.
Here are some milestones alreadt acheived by our team:
Here are a few of our key milestones:
Deployed our Diamond Pricing Algorithm, which has already priced more than $1 billion value of diamonds.
Launched the Diamond Financial Index which covers a wide range of more than 750,000 diamonds daily. It’s already live and running - you can see it feature prominently among the five live indices at Investing.com.
Announced a strategic cooperation with Kela.cn - the Asian jewellery giant - which will accept our CARAT Tokens as an official online and offline means of payment. Read more at LeapRate.
Secured a partnership with Celsius Network (who raised $50,000,000 in their TGE), which allows CARAT Token holders to receive fiat loans in return for their CARAT Tokens.
Announced a strategic partnership with IDEX - the world's second-largest diamond platform. This brings overs 750,000 certified diamonds and 7,000 professional traders into the Carats.io ecosystem.
Mr Eli Avidar, the former CEO of the Israel Diamond Exchange and acting Vice President of the International Jewellery Confederation (CIBJO), has joined the Carats.io team as the company's President. Read more at Rough&Polished Magazine
As your review is appreciated, we'll be happy if you'll re-review our project with more details:
- There is a KYC process (all online).
- There is plenty of difference between us and the other ABC's as:
1. Diamonds are an easy-to-redeem commodity. Should you decide to convert your crypto into its real-world value, you’re better off doing it with the most concentrated store of wealth (as diamonds have been proven to be). Just imagine trying to redeem $1 million in gold - you’d need a truck to haul it off. However, $1 million in diamonds can fit in your pocket.
2. Diamonds are still a relatively untapped asset - there is still no financial market for the commodity. With the first financial market for diamond still in the construction phase by Carats.io, an investment now in a diamond-backed currency holds the incredible potential of a soon-to-be unlocked market.
3. Among commodities, diamonds are one of the most stable in value. While gold, silver and other commodities are exposed to financial markets and speculators’ whims, diamonds have remained steady for over three decades (while enjoying a positive appreciation).
4. Diamond-backed crypto lets you profit from interest. Other digital currencies, like Tether, let you store your investment without gaining any interest or appreciation (similar to placing your money in an Index-Linked Certificate of Deposit). With diamond-backed currencies you can enjoy the positive appreciation of these shiny gems.
5. Diamonds are a heterogeneous, varied commodity. They come in many different sizes, colours and forms, and can be redeemed and liquidated into any of these.
Besides the basic utilities (which are innovative by themselves as diamonds are not investable nowadays), our CARAT Token will provide many more utilities that other ABC's may not provide to their token holders:
Buy jewelry with the CARAT Token - Kela.cn recently became the first announced diamond and jewelry retailer that will accept the CARAT as a means of payment.
Get FIAT loans for crypto and diamonds - the CARAT will function as a collateral and financing tool for crypto holders and diamond dealers through the Celsius Wallet.
Peer-to-peer transactions - The diamond-backed CARAT will be used as an official means of payment on the IDEX platform - allowing more than 7,000 professional dealers to trade peer to peer with no middleman
More utilities will be announced soon.
Regarding the milestones - as we're building a long-run project, with long-run objective - we decided to first develop our technology (before the ICO).
That's why we went to an equity round - where a known Israeli VC has backed us with the funds for the technology development and deployment. We decided that before the ICO, everything shall be in place. We dont promise (like many others do) - we deliver.
Here are some milestones alreadt acheived by our team:
Here are a few of our key milestones:
Deployed our Diamond Pricing Algorithm, which has already priced more than $1 billion value of diamonds.
Launched the Diamond Financial Index which covers a wide range of more than 750,000 diamonds daily. It’s already live and running - you can see it feature prominently among the five live indices at Investing.com.
Announced a strategic cooperation with Kela.cn - the Asian jewellery giant - which will accept our CARAT Tokens as an official online and offline means of payment. Read more at LeapRate.
Secured a partnership with Celsius Network (who raised $50,000,000 in their TGE), which allows CARAT Token holders to receive fiat loans in return for their CARAT Tokens.
Announced a strategic partnership with IDEX - the world's second-largest diamond platform. This brings overs 750,000 certified diamonds and 7,000 professional traders into the Carats.io ecosystem.
Mr Eli Avidar, the former CEO of the Israel Diamond Exchange and acting Vice President of the International Jewellery Confederation (CIBJO), has joined the Carats.io team as the company's President. Read more at Rough&Polished Magazine
