Gemera's cryptocurrency is backed by Colombian emeralds

Gemstones are a popular store of value. They are easy to hide, easy to move and are practically guaranteed to remain valuable regardless of broader market fluctuations. Among gems, rubies, sapphires and emeralds are particularly prized; and among those precious gems, Colombian emeralds enjoy a special reputation. They are the most valuable of emeralds that have found demand all around the world for centuries and continue to do so now.

https://www.gemera.io/

Acquiring those emeralds can be difficult and risky. There are many fakes out there whose real value is far less than what they're sold for. Even if one can be sure of their authenticity, buying emeralds is expensive and usually done through inflexible, middleman-heavy channels. Gemera seeks to make investing in Colombian emeralds transparent and available to all. It does this by offering a unique type of cryptocurrency tokens backed by the emeralds in its possession, and a blockchain-based system for inspecting and purchasing those gems for its tokens.

What does Gemera offer to its investors?

Emeralds mined by Gemera's partners in Colombia will undergo a complex, multi-stage tokenisation process. They will be selected by experts, certified in a specialised laboratory and assessed to determine a fixed GEMERA token (GEMA) price. GEMAs will be issued and made available for purchase in Token Generation Events that will repeat as more emeralds are harvested and prepared for tokenisation. The emeralds will be insured and stored in a secure vault, with annual audits to confirm the authenticity and quality of the emeralds.

Information about the emeralds will be stored on the blockchain, with added certification and audit records uploaded using IPFS. All of this data will be available to the users on Gemera's decentralised emerald marketplace. It will use INFURA API to connect with the Ethereum mainnet and IPFS. For a 3% fee, GEMA holders will be able to redeem their tokens in exchange for emeralds on an annual basis (though later, Gemera may allow more frequent redemptions). They will be able to pick out what emeralds they want, view full information about them and either collect them directly from the vaults or order a delivery to their place of residence. GEMA tokens are meant to be externally tradeable as well, dependent on Gemera reaching an agreement with exchanges.

What are Gemera's strengths?

The Gemera team has an extensive familiarity with both cryptocurrencies and Colombian gem mining. It has pledged to vet its emerald producer partners for good environmental and social practices. 4Cs Emeralds, a company operating in several of the biggest Colombian mines, has already agreed to be the first such partner. Working with local and American experts, Gemera has developed a new detailed assessment process for emeralds, used to determine their quality and value based on multiple parameters, including colour, clarity, size and cut. Its initial marketing strategy will focus on the growing emerald market of East Asia.

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A unique if risky opportunity for cryptoinvestors

Gemera's promise is considerable. It offers a cryptocurrency that is backed by a real, reliable and valuable asset, something that is sure to be appreciated by investors frustrated by the instability of most cryptocurrencies as they are now. At the same time, it provides a new and improved way of investing into Colombian emeralds, sure to attract those for whom such an investment would normally be inaccessible. Potentially, it can deliver a great deal of value for its investors, the cryptoindustry and the emerald industry alike.

Can it live up to this promise? It depends on the proper function and good faith cooperation of every part of its supply chain, from the miners through the auditors and storage providers to Gemera's own digital technology. The volatile political and military situation in Colombia may also give some cause for concern. But if no unexpected problems interfere with Gemera's operations, the project should have a clear path to success.

Links:

Website: https://www.gemera.io/
WhitePaper: https://src.gemera.io/src/GemeraWhitePaper.pdf
Telegram: https://t.me/GemeraProject
Facebook: https://www.facebook.com/GemeraProject/
Twitter: https://twitter.com/GemeraProject
Medium: https://medium.com/@gemeraproject
ANN: https://bitcointalk.org/index.php?topic=4789620.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049

Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.

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