Many have wondered when trading various metal commodities with brokers why the diamond market can’t be leveraged through CFD trading.
Well, it seems that you may soon have a way to trade in a “girl’s best friend.”
It seems that the Israel Diamond Exchange has announced a signed agreement with CARATS.IO to launch a new digital currency backed by diamonds. It will be named CDC standing for CARATS.IO Diamond Currency.
This new cryptocurrency will completely reflect diamond investments with the Israel Diamond Exchange. The movement of this currency will mirror the diamond trading activity at the exchange.
Many have tried to turn diamonds into viable trading instruments but have failed to complete the task. The President of the Israel Diamond Exchange, Yoram Dvash explained that the way to complete this mission was to bring in innovators from outside the diamond industry. That is why a cryptocurrency system was chosen.
What CARATS.IO Says:
Executives from CARATS.IO told us that “The diamond industry can be an attractive investment channel for the many investors in digital currencies. This currency is unique as it will be backed by investments in diamonds, which have steadily appreciated over time. There is a large community of investors in digital currencies throughout the world. By backing this currency with diamonds we are significantly decreasing the speculative level of the investment. Our cooperation with the Israel Diamond Exchange is an important step in making this currency a reality.”
Being the largest diamond exchange in the world, the Israel Diamond Exchange seems to be moving in a wise way. Many investors have had a strong desire to invest in this market, but without the means of securing diamonds themselves.
By using a currency standard, people will feel as if they are holding precious “rocks” in their hands without really doing so.
Personally, I believe the CDC will be a great investment choice when launched.
I predict strong returns, so be prepared to invest in this cryptocurrency.