From the perspective of a customer, the exchange platform acts as a guarantor and conducts a project due-diligence check on the customers. The exchange performs the KYC (Know Your Customer) and AML (Anti Money Laundering) verification for each member. But these are not enough to be a reliable guarantor on a blockchain platform.
DOM strives to be an important tool for the diamond market by providing a safe, transparent and decentralized way to buy and sell diamonds and its products. That is why on DOM, both buyers and sellers will be able to sign smart contracts, when making a deal or share some useful information. The DOM platform on its behalf guarantees payments between users according to smart contracts. Buyers and sellers will be granted with digital signatures to sign smart contracts. This will ensure that the transaction has maximum protection and make blockchain technology act as guarantor of transactions between users.
The platform will introduce variety of payment options with user friendly interface to ensure smooth trading and transactions across the platform. Consumers will be able to buy the diamonds without paying any fees. Every user will also be able to register a diamond, set the price and sell it with the highest profit possible.