The Israel diamond industry produces ornaments secured cryptocurrency

The Israeli diamond exchange, which is one of the largest in the world, will release its own cryptocurrency.

«The new cryptocurrency will be backed by the diamond purchases in the Israeli market and to appear as an updatable indicator trading hall and various shopping Internet sites along with other national and international financial instruments», explained on the exchange.

«We offer people the opportunity to invest in the market without actually buying and selling diamonds,» said one of the developers of cryptocurrency Avishai shoushan (Shoushan Avishai).

Diamond cryptocurrency will be presented in two ways: Carat – for investors, Cut – to market professionals as a method of payment. Cut pre-sale started on the 5th of February. It is planned to launch it into circulation in a few weeks. The Carat release scheduled for March.

A quarter of the cost Carat diamonds will provide the most exchange. Managing Director Eli Avidar thus decided to make cryptocurrency diamonds unique.

Managing Director Eli Avidar exchange:

«This should make it attractive compared to 1400 cryptocurrency that already exist in the world.»

According to Rapaport, for 10 months in 2017 the export of Israeli diamonds in value terms fell by 12% to 3.38 billion dollars, in volume, it decreased by 11% to 1.2 million carats.

Earlier, the head of the development Fund of the Far East (FRD) Alex Chekunov said that in 2018 on a digital platform «Sunrise» will trade in the cryptocurrency Coin D1, secured by diamonds that have been made by Russian and foreign cutters of stones «ALROSA». She cryptocurrency Coin D1 belongs to the company of Singapore Pte Ltd Diamundi. Regulatory framework of the launch of the platform in a pilot mode with the real transactions involved the Ministry of Finance, Central Bank, VEB, FRD, HP RS.

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