BASE.INFO team has interviewed Saar Levi the CEO of CEDEX project. We have asked the most topical questions to get acquainted with the project and to learn the future plans of the CEDEX team.
Please welcome, Saar Levi.
Please describe your company/project in 2 sentences.
CEDEX is a blockchain based global diamond commodity exchange that transforms diamonds into a new financial asset class. The CEDEX exchange allows investors to easily and securely trade in diamonds, while diamond holders can effortlessly liquidate their assets.
Why did you decide that blockchain should be the basis of your project?
CEDEX was founded on the ideas of openness and transparency at its very core, so using blockchain made complete sense as it is the best way to insure that every step, every transaction, every move made will be above board and visible to everyone involved.
When adding the security and speed of transactions to that core you get a base that we view is the best one we could hope for.
Why did you launch the ICO? Was it the only option to collect the funds?
No, it was not, other options were viable, but in the early stages of the project it became obvious to us that since we were trying to get the public interested in what is essentially an entirely new investment opportunity that will rely on them to succeed.
As such, an ICO was the best way to ensure that people interested in the project also have an interest to hold the coin and watch both it and the project succeed.
Briefly describe your team. Why these people became the engine of your project?
Our team is comprised of over 20 individuals with varying expertise, but regardless of what they do - they are all on the cutting edge of their respective fields and fully support the idea behind CEDEX, as such, they are all driven to see it succeed.
What are the main centerpiece and the highlight of your project? What will attract the investors' attention?
The main attraction is when you say to investors that CEDEX will allow Diamonds to become a financial investment and not just a piece of jewelry. Turning diamonds into a new financial asset class and the ability to trade them.
The diamond industry has been closed off to the public for centuries, and anyone wanting to sell or buy a diamond would have to go through one of the industry's "official" channel, most likely - at a loss.
That will change when the CEDEX exchange is live as anyone in world can trade, buy or sell diamonds with ease and do so at their fair market price.
What are your thoughts about ICO marketing? Can it be really effective due to all the restrictions and other phenomenas?
We strongly believe it can be, so long as it is done right, with the right people and the right intentions - there are more than a few bad apples out there, but if we, and other companies like us do our part to become and stay reliable and above reproach - there is no reason ICO's can not maintain as respectable a success rate as any other form of fundraising.
ICO marketing also tends to be far more efficient when it is backed by a real, viable project, one that can help its currency stay in demand and rise in value, just as the CEDEX coin will be.
Why is your project better than your competitors?
We've got what we believe to be 3 main advantages on our competitors - the fact that CEDEX is a utility coin is important because it will ensure that the exchange will have constant support.
Our proprietary DEX technology is also a big advantage as it will serve as a way for our exchange to present accurate information at all times and keep market fair, relevant and accurate.
And finally - CEDEX will be the first B2C blockchain based diamond exchange, and because the diamond market is virtually untapped when it comes to anyone outside the industry, being the first to break into it will give CEDEX a major advantage.
What are the major ways of monetization for your project?
Like most projects CEDEX will finance itself by charging fees on transactions conducted on the exchange as is the norm in exchanges.
Which markets are the most attractive for you right now? Do you take in consideration the USA and other countries with the legal restrictions for the crypto crowdfundings?
We will officially launch the platform in the UK, so that is our main focus for the moment, but our roadmap also covers future expansion to other countries and we hope to have our large community represented as well as possible - they come from South Korea, India, Australia and Europe so we would obviously like to expand to those locations as far as trading goes.
We should mention that exchange sellers can come from any location on the globe.
Describe your project in 3 years? Will it change something in the world?
Our current roadmap goes as far as the end of 2020, but we envision CEDEX slowly expanding to various parts of the world, as the project grows in scope and abilities, in the hopes that maturity for the cryptocurrency market also improves and acceptance is such that the CEDEX coin and platform slowly become synonymous with a way of purchasing diamonds.