Dubai – Mubasher: Two of Al Kasir Group’s units, Al Kasir Jewellery Trading and Al Kasir Portal, have announced the launch of diamond trading on blockchain service with three diamond-backed blockchain assets.
The three assets are stored in highly-secured digital blockchain wallets, according to an official statement released on Wednesday.
The exchange of these assets will commence between 21 and 24 August 2018.
“Backed by a real-world asset, Al Mas, Al Haqeek, And Al Falah are secure, convenient, and easier to store and translate value due to a base measure around which their value revolves.”
The blockchain assets will be traded later on the company’s in-house exchange, enjoying the flexibility of interchangeability of assets and barter-exchange against diamonds, gemstones, oud, bakhoor, and attar, Al Kasir Group revealed.
“The Blockchain-Assets will be available for purchase across the counter as the company aims to open 1,000 stores across the world.”
The asset-backed feature is what differentiates between blockchain assets and cryptocurrencies.
