- August 6, 2018
- Posted by: Mor Hazen
- Category: carats blog posts
Being in the vanguard of the next generation of responsible crypto, we are eager for a crypto market based on the transparency, security and stability needed to cement digital currencies’ place in the future of finance
With volatile price swings, coins based on hard-to-explain blockchain technology, and an online community made up of hackers, anarchists and activists, the crypto world has earned a reputation of being a financial ‘Wild-West’. Governments have found themselves playing catch-up, trying to come to grasps with this new sector, while figuring out how to integrate it into the existing financial order. While many ICOs and crypto activists may be reluctant to accept increased regulation and order in this chaotic, but exciting world, we at Carats.io firmly believe that only by developing safeguards and regulatory frameworks, will digital currencies finally take their place among history’s greatest financial innovations.
At Carats.io, we have developed the CARAT token, a digital currency part of the next generation of stable coins – crypto whose value is secured against wild price fluctuations. In our case, we have created a diamond-backed coin, with each token pegged to a real diamond (and fully redeemable in diamonds). This allows us to ensure stability, as well as enjoy the decades-long positive appreciation of the commodity.
However, this is just one step in our vision of synthesizing blockchain technology with the diamond industry. Carats continues to develop technological innovations that will help establish the new, expanded financial market for diamonds.
This ultimate goal places Carats.io’s ambitions firmly within the mainstream financial sector. As such, the company would like to see the crypto world evolve from its frontier-like beginnings, to an established, universally-accepted industry. Where other ICOs may look with suspicion upon any attempt to bring transparency and regulations to the sector, we welcome such attempts as necessary steps, ones that will ultimately allow the market to grow and expand. As crypto becomes more regulated, more transparent and more orderly, more people and companies will be eager to adopt digital currencies as a means-of-payment.
With this in mind, we at Carats.io have taken it upon ourselves to be at the front of this crypto evolution. As a crypto startup, we remain committed to the values of security, reliability and transparency, while developing what promises to be one of the most stable digital currencies on the market. We have actively taken upon ourselves to increase the levels of government oversight of even our own company, by choosing to base ourselves in the U.K., under some of the strictest rules and regulations, as opposed to the relative lawlessness of offshore bases. Additionally, we maintain our commitment to these values in our industry as a whole, welcoming educated and responsible regulation that will ultimately bring the world of crypto out to the real world.