Before you can solve a problem you must first really investigate it in-depth, make sure you have all the facts straight know exactly what obstacle is it that you are attempting to overcome.
Attempting to solve an issue without being aware of all the variables involved will inevitably lead to failure – not what you want.
When the CEDEX team first started looking at the idea which would ultimately become CEDEX, they needed to identify the main issues plaguing the diamond industry, so they could then come up with the best possible way to resolve those issues.
As you take your first steps into the world of CEDEX, we thought it would be best to tell you all about what these issues were, and how CEDEX solves them, head-on.
The diamond industry has been a virtual cartel for decades if not centuries.
People on the outside have little to no idea about its inner workings, processes or connections – and that is entirely intentional.
It is that very same secrecy that allows the companies and individuals within the industry to run it the way they do – they set prices and standards which the public has no choice but to accept.
What if you want to become a part of the industry? You’d better have some great connections or if you want to be granted access.
This issue is apparent in the age of the internet and information, where nearly everything can be accessed in mere moments – from information to banking records, with the simple click of a mouse – Everything but information on the diamond industry, that is.
To this day, many people have no idea how prices are set, how the market is controlled or where the diamond they just purchased was before it reached their hands.
CEDEX resolves this issue by ensuring that – every diamond’s data, price point and trajectory is fully transparent and trackable – as one would expect in our day and age.
When an investor buys a barrel of oil he does not need to choose it with care – A barrel of oil is a barrel of oil – they are all identical.
The same for goes for a bar of gold, a bushel of wheat or stock in some high-tech company – there is no difference between them – If you’ve seen one – you’ve seen them all.
Pricing such items is as easy as it gets – their prices are always identical to the market price (or at least – they should be). If the price of oil is currently $80 a barrel it would not matter where you got your barrel. The price would still be $80.
But diamonds are a different “animal”. No two diamonds are alike.
Sure, you can have diamonds of similar cuts, clarity, carat or color, but no two diamonds will ever be exactly the same and will therefore never share the same price.
But – if the prices are not the same, how could you sell them, while keeping the buyers informed about their true market worth?
That’s where CEDEX technology comes into play – the DEX algorithm will take all characteristics of any diamond and compare them to similar diamonds, will let you know if a certain diamond you’re interested in is being sold at, above or below market value.
This display will ensure that buyers and sellers are aware of market prices at all times, and allow everyone a fair and equal opportunity to trade, buy and sell according to their individual needs.
One of the biggest problems facing any market or company is the uncertainty it faces when it comes to transactions – is there a demand for their offering? Are people interested? And if so – what would they be willing to spend to acquire the product or service?
In our day and age, companies spend huge amounts of money on market research to find the best products that are most suitable and optimally priced. And even then – they miss just as much as they hit.
CEDEX has come up with a system that will create a reciprocal, two-sided market. We believe it is as brilliant as it is simple.
Diamond dealers and private diamond holders have a vested interest in uploading their diamonds to the CEDEX exchange, as the exchange grants them access to a far greater “bank” of potential buyers from across the globe – an undeniable asset.
At the same time, the fact that the only way to use the exchange and conduct trade on it is via the CEDEX coin will drive the coin’s value up, which, in turn, will likely attract cryptocurrency and general investors from around the globe.
What is perhaps the best part about CEDEX is that this sort of eco-system is naturally self sustaining. More supply feeds into more demand, which feeds back into more supply, and so forth.