Cryptonian

There are two severe problems in traditional system for a jewelry trade industry.

1. existence of an unconditional trusted broker between wholesalers and retailers. : Wholesalers lend diamond/jewelry to retailers via brokers without any collateral. Brokers usually take 5~20% fee from every transaction as trust cost. They just trust brokers. That's how they have done this business for many years. Last year total of 3 million dollars fraud were caused by brokers. ==> To remove brokers, crowd-funding with smaller fees via blockchain can solve this trust issue.

2. at least 30 day delayed settlement from retailers : Wholesalers tolerate this delayed settlement because this is the way they've done the business. But risk is very high especially from the perspective of 'liquidity'. ==> To increase liquidity for wholesalers, transaction receipt from retailers can be accepted for economic activities from wholesalers. (Transaction receipt can be a type of NFT) The settlement will be automatically sorted out via smart contracts.

The system is mainly built on several smart contracts.

• NFT to represent Jewelry to be traded.

• Crowd funding scheme to rent retailers for them to use it as deposit for to-be-traded jewelry.

• IoU scheme to provide liquidity wholesalers. They can take being-traded jewelry as a collateral to mint stable coins.