I was recently asked to review CEDEX and I reached out to the company to tell me what would I be missing in their white paper or on the website that I should be looking at for my review. Basically I asked them for them to review their company and send me their review of there own company and then I take that plus my own research and what buzz I hear in the crypto circles and I give a review saying this is a BUY or an AVOID in my opinion. My opinion is something you could use or not use in doing your own research and making your ultimate decision to invest in these companies or not. Below is copy and paste hype from their website that the person from the company sent me:
CEDEX is the First Ever Certified Blockchain Based Diamond Exchange.
CEDEX.com is a global exchange that focuses on bridging the gap between the traditional diamond industry and the innovative financial markets. With its extensive industry knowledge, CEDEX wants to engineer a ground breaking change – enabling people to liquidate and invest in diamonds like any other financial asset, in a transparent and secure way.
The CEDEX exchange enables anyone to invest in individual diamonds, shares of a high- value stone or shares in a basket of diamonds (ETF).
Investors, buyers and sellers are confident because the diamond value is transparent, using the DEX, our machine learning algorithm and blockchain technology that rates a diamond’s asking price, liquid because it creates a two- sided market by enhancing both the supply and demand, and fungible because CEDEX creates a unique benchmark value, rate and contract for every stone.
CEDEX was founded by a group of experienced veterans from the FinTech, diamond, financial and online industries, all of whom have extensive industry knowledge.
Become part of one of the most revolutionary changes in the financial industry in centuries – enabling people to finally invest in diamonds like any other commodity. www.cedex.com
I suggest you go to their website and read it carefully to see what I’m talking about when I say this is in my opinion a HOT MESS and should be avoided. Look at the chart they put in white paper that says ” Today the diamond jewelry industry & other is 99% of the market and 1% is investment” they then show in the same chart ” The future” which they tout will be 80% investment and have jumped from us $1bn to us $348bn. Note their is no explanations on how this is going to happen or a timeline other then the future, and then they try and compare gold jewelry to investments in gold to show that diamonds could be just like gold.
They fail to mention the stigma that diamonds and diamond mining has along with the fact that man made diamond technology has come so far in last few years and will have a major impact in my opinion on pricing in the industry.
In conclusion in my opinion this is the classic case of a great looking website with videos, tons of graphics, nice charts, pictures of a large team and a fancy white paper that has no meat on the bone to how the projections are real and if any of what they say has anything to back it up. Is this what the diamond industry is looking for? Do they need this and will they except this? You make your opinions after reading their information.