Why CEDEX deserves your attention.
I’ve been “in” the crypto world for a couple of years now, and while i am nowhere near as “hardcore” as some of the people i’ve had the chance to talk to, I consider myself pretty knowledgeable by now - I’ve seen projects come and go, ICO rise and fall and have gotten to know “the lay of the land” by now.
And the one thing I can say that most projects have in common is this: They start out by wanting to “change the world” in some way and are choosing to go via the ICO route because it offers them an immediate route at what the old financial world would call “start-up cash” to finance their project and start building it.
But as we’ve seen many times over the years, not just in the crypto world, but far before it is that an IDEA is not enough, actually - most times - it’s nowhere NEAR enough, you have to have the knowledge and ability to back it up.
Which is where most projects run into the wall - they have an idea, great as it may be, but no ability to execute it properly, and that’s when investors start growing upset and agitated, that’s when projects run into problems, that’s when people start treating the entire ICO “sphere” as just another get rich quick scam.
Projects without the ability to follow through on their promise are the reason more projects, great as they may be fail - they give the entire realm the aroma of something bad.
So with all that in mind, I set myself a ground rule not long after seeing yet another interesting ICO sink - I will always try to look at projects and put aside how I personally feel about what they are trying to accomplish, try to be cold, analytical and calculated when weighing the good and the bad.
Most of all, I was going to look at two things - the actual viability of the idea, and the backing behind the project, which more than likely will make the difference between a project failing and succeeding.
And CEDEX is one of the projects which has caught my attention in the biggest way over the last few months.
It’s idea is as simple as it is full of potential - take an industry that is essentially closed off and exclusive but has an incredible potential for profit (the Diamond industry) and allow anyone to become a part of it by buying, selling and trading diamonds with fair market prices ensuring that no one is scamming you or reaping profits that defy logic off your back.
The Idea appealed to me for a simple reason - i’ve been working with cryptocurrencies for some time now, and know that their market is as volatile as they come - I was here when bitcoin reached 20k USD.
I was also around to watch it crash down below 7k not 6 months later.
Not only was I “there” my income suffered for it!
Bitcoin and many other currencies like it represent a great temptation for profit, but they also come with a significant risk - you have no “real” way of getting out quick if you need to.
If you held certain stocks around 2008, you had a way of getting rid of them, sure, you would have taken a loss, but it would have been in the 10-20-30% range. Not the 60-70-80% range (assuming you had the smarts to get out).
But no such option currently exists for crypto players like myself and many others - there’s simply no easy way of ensuring your current position stays as close as possible to its actual worth - if you have 20k in bitcoin/ether/any other currency when you go to bed, you’re just as likely to wake up with 19.8k as you are to wake up with 6.2k.
But the idea of CEDEX provides crypto investors with a safe, secure and viable option, but one that has simply not been explored enough so far - treating diamonds like any other financial asset.
The “old guard” has gold as an “insurance policy” when their chosen currency goes crazy for some reason, why can’t crypto players have the same thing? And why can’t it be done in a way that we KNOW works better - with sharing, inclusion and transparency of information and finances.
The idea behind CEDEX is rather simple - they will have an algorithm to analyze the worth of every diamond uploaded to their platform and you could browse through the various diamonds being offered on the exchange, see their ranking and decide, according to your own definitions, which one represents the best of most suitable deal for you.
Once you’ve “chosen” your diamond, you can simply pay for it with the CEDEX coin (which you can also use to pay for various transportation and storage costs) and that’s that - you are now the proud owner of a bona-fida, fully certified diamond, one who’s value won’t drop by 80% just because someone sneezed wrong - you have a FIXED POSITION.
If and when your chose currency rebounds and you want to “get back in the game” - great - you simply list the diamond back on the exchange and sell it on and you receive payment in CEDEX coins, which can then be converted back to your currency of choice.
So yeah, I invested in CEDEX and I am now patiently waiting for the launch of their platform and for the ability to secure my crypto finances just like I would any other investment in the “real” world.
If you are anything like me and you sometimes wake up in a cold sweat over the BTC or ETH rates, fearing for your investment and its future - there is now a cool and promising new way of securing it - CEDEX, I would highly recommend you check it out, i’m including links to a great presentation by the CEDEX CEO Saar Levi, explaining the vision behind the project, and the whitepaper, if you’re into some in-depth reading.