Thursday, February 8, 2018

One of the top three diamond exchanges in the world planning to tokenize diamonds as Israel jumps into the cryptocurrency game

Israel's global diamond market is getting a cryptocurrency boost as the world's third largest diamond exchange is planning to put their business on the blockchain, and initiate a cryptocurrency for customers and investors.

The cryptocurrency Israel’s Diamond Exchange expects to launch is largely hoped to boost trade and make operations more transparent, as this time its sales will directly depend on diamond price fluctuations. 
"The new cryptocurrency will be backed by the diamond turnover on the Israeli market and reflected as an updatable indicator in the salesroom and different retail websites, along with other national and international economic indicators," Israel’s Diamond Exchange, which is among the top three largest in the world, said in a statement. 
Blockchain-based Carat and another digital currency, which goes by the name Cut, are expected to arrive around May and be widely used by investors as well as the general public. – Sputnik News
And the tokenization of everything continues...

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