Carats.io has just announced its strategic partnership with KELA, a jewelry and diamonds e-tailer in Asia, signifying the integration of the diamond blockchain into the market.
Carats.io has created CARAT, a diamond-backed token which provides a solution for the need of a stable coin, basing its value on the positive appreciation of the diamond market. Additionally, Carats.io has created a state-of-the-art algorithm that has standardized price evaluation of the precious stones, and compares individual diamond grade to daily market conditions.
Through this alliance, Carats.io will become Kela’s blockchain and technology partner, while Kela continues to lead the way on the authentication of diamonds and the prevention of fraud. The alliance builds a bridge between two huge industries: the blockchain and the diamond & jewelry industry, providing great value for both. Additionally, Kela’s Founder Mr. Gou Feng will act as an advisor of Carats.io for the Asian markets.
Carats.io CEO and founder Mr. Avishai Shoushan met with Kela’s Founder Mr. Guo Feng in Tel Aviv, Israel, where they agreed to develop a strategic partnership regarding diamond trading using blockchain technology.
The cooperation with Kela, the largest online diamond retail in China, the biggest retail market in the world, will accelerate the Carats.io goal of building the first financial market for diamonds, and will bring much more diamond trading to the market by using blockchain technology” explained Mr. Avishai Shoushan.
Blockchain technology has been behind the formation of a global ecosystem. Kela, one of the largest online diamond retail platforms in China, will combine its business with blockchain technology, and comply with China’s rules and regulations. The cooperation between Kela and Carats.io will allow us to explore and develop blockchain technology together,” added Mr. Guo Feng.
The strategic partnership between Kela and Carats.io will make the retail database accessible by using blockchain technology, and will accelerate Carats.io to be the global authority and financial standard for diamonds.