Tired of cryptocurrencies that do not have valuable assets backing? If you are, you will certainly be interested in the cryptocurrency that our blog will review in this article.
Gemera is a new cryptocurrency that is backed by Colombian emeralds. They are stored in highly technological security vaults in Hong Kong and when you buy the tokens, you are basically buying a share of these assets.
What Is Gemera?
The company that created this product understood that the blockchain technology enables its users to use many advantages that they would simply not be able to if they simply used the traditional financial asset way of buying emeralds. Unlike traditional investments, the blockchain technology offers complete transparency and security for the user.
This cryptocurrency was created by a group of entrepreneurs who are experts on blockchain technology and gems. The team is made of Jorge Pelaez (CEO and founder), Nicolas Revollo (CTO), Danny Arteaga (CCO) and Alejandro Baracaldo (full stack developer), among others.
What this company offers might not be new, but it is certainly an interesting option, as there are not many companies offering valuable assets like emeralds on the market today. Some companies are offering gold, which is considerably more mainstream, but if you are interested in a different investment, you can use Gemera to invest in Colombian emeralds.
Colombian emeralds are, according to the company, the most valuable type of emerald and Hong Kong is a trading place for this type of asset and has vaults that can store these products, so it seemed like the right choice.
About Gemera Tokens
Gemera (GEMA) tokens are the cryptocurrency that powers the system of Gemera and is backed by Colombian emeralds. They might be valuable as these emeralds, but at the same time, these tokens can be transferred and used just like any other cryptocurrency that you might find in the market today.
They are based on the Ethereum blockchain and use smart contracts to ensure that the transactions are safe and non-refundable.
Unlike many companies, Gemera will not have an ICO. Instead, the company will issue tokens and distribute them whenever the company buys emeralds and store them in the vault, which will happen multiple times without necessarily affecting the price of the tokens because there will be more gems backing them.
The tokens are created via smart contracts every time that a batch of Colombian emeralds gets to the safety vault that the company has in Hong Kong. As soon as this happens, a smart contract will create new tokens all at once. Investors that buy the first batch of tokens will have a discount of 10% on the price of the tokens. You can buy the GEMA tokens using ETH.
You can only buy tokens during the sales of the company if you spend at least 0,001 ETH. If you wait, you might be able to acquire the tokens on exchanges without having a fixed minimum purchase amount, but their price will probably be higher, so that does not sound like a great idea at all.
GEMA Tokens And Emeralds
One of the most important factors that will hold the GEMA tokens’ price is that, every year, there will be a short window in which you can redeem your tokens for emeralds of the company. If you have enough tokens, you can select them and trade them for Colombians emeralds by using smart contracts. The emeralds will be delivered at your home or then you can go them in Hong Kong if you want to.
You can see information about the emeralds on Gemera’s online marketplace. The value of the emeralds will be determined by specialists who consider color, clarity, weight and the shape of the stone to determine how much the emerald is worth.
The company has measures that you can take in case the emeralds are ever stolen and ways that you can use to know that they are really stored in where the company says that they are.
Gemera Final Verdict
These tokens can be a good option if you are a high profile investor who likes to invest in assets that are less volatile than Bitcoin, for instance. While it does not look like Gemera will become a very popular cryptocurrency, it can be a very successful one by catering to an elite that likes to trade and collect valuable products.