Press release
New opportunities in diamond trading: Finnowex and Adamant & Grand join forces to create BitCarat, a unique blockchain-based diamond exchange
Swiss-based Finnowex partners with Adamant & Grand diamond broker to introduce cutting-edge blockchain technology to the global diamond market. Blockchain is viewed today as a powerful instrument which is able to transform finance and trading sector, and the joint-venture will create new opportunities for natural diamonds trade around the world.Blockchain technology is not new for the diamond market, and recently a number of initiatives was introduced by IBM, Hyperledger and other tech companies, which allowed the diamond giants such as De Beers to track and trace diamonds on the blockchain. Finnowex and Adamant & Grand make another step introducing BitCarat, the first blockchain-based diamond trading platform.
The BitCarat platform will embrace all the benefits of blockchain – transparency, security and traceability – to become a new generation solution finally able to resolve the problems of liquidity and price efficiency. That will provide an opportunity not only to make the diamond trade more efficient and transparent, but also to produce the first diamond-backed financial derivatives – one of a kind diamond futures.
Comprehensive low-latency exchange technology, as well as sophisticated machine learning algorithm for diamonds price estimation are already created, as well as important parts of physical infrastructure, and the next steps for BitCarat include own blockchain eco-system development and digital diamond bank creation.
Today, when everything, from real-estate to legal services is being transformed by blockchain, that seems to be a logical step for the whole diamond industry. Adamant & Grand and Finnowex are now making the final steps to comply with all the regulations in order to present diamond market participants, investors and blockchain enthusiasts the most safe, secure and transparent platform for natural diamond trading.
About Adamant & Grand
Professional team of experienced diamond brokers specializing in investments diamonds. The company aspires to partner with key diamond industry participants to create the first real “diamonds on blockchain” experience.
About Finnowex
Switzerland-based company providing financial services to blockchain projects.
Adamant & Grand
Third Floor, Landmark Square, 64 Earth Close, P.O. Box 707 Camana Bay, Grand Cayman, KY1-9006, Cayman Islands
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