Connecting two worlds that offer numerous benefits: Precious emeralds and Blockchain technology.
The redemption process is composed of the following steps:
The Custodian Bank selected by Emerald Trade to hold all emeralds in safekeeping located in Miami, FL, under a custody agreement, shall provide the nominated accounting firm with verification that it holds every emerald specified on each invoice and the corresponding valuation (formal appraisal) and quality certification of the gem lab.
The owners of Fura can redeem their tokens for emeralds through the website www.furatrade.com. Owners of FuraCoins can redeem their tokens twice a year. The first redemption round starts from May 18th to June 18th (2023) and the second redemption round stars from November 18th to December 18th (2023). Individuals who purchase FURA can go to the website to view each emerald’s most recent price, alongside its copy of the GIA certificate and other related government documentation.
Emerald Trade keeps certificates from laboratories from the countries where the emeralds are purchased and then recertifies the gems through the prestigious GIA laboratories located in New York once the emeralds enter the United States. Unlike our competitors, which only have certificates from countries outside of the United States. Emerald Trade uses GIA certified certificates, and the Emerald Report price list system to evaluate the price of gems. Market Value includes a very detailed description, precise measurements and grades, color, digital image(s), and determination of the value within the appropriate market. The appraisals for each emerald are verified by a GIA certified master gemologist who provides a fair market value price for each stone. It is also important to note that the appraisals are independently conducted by a non bias third party service unaffiliated with Emerald Trade. Appraisals of each emerald are done on a recurring quarterly basis.
The answer to this question is NO, because FuraCoin’s only commitment in this regard is that, in general, Emeralds fully support the value of the Tokens, which does not mean that the specific gems are directly linked to the Tokens.
To reinforce the transparency of the process, Emerald Trade will conduct a biyearly audit to verify the authenticity and quality of the emeralds by a trusted third-party company.