A company called Diamond Standard made a new way of sending money around the world using diamonds instead of regular money. It's called Carats and it lets people send money to others by moving digital diamonds from one phone to another. These digital diamonds are backed by real diamonds that are kept safe in big, secure vaults. This is a new way of sending money without having to deal with banks or their rules. Read from source...

1. The title is misleading and sensationalized. It implies that diamonds are a viable alternative to traditional currencies for global money transfer, which is not the case. Diamonds have no intrinsic value or liquidity compared to fiat or crypto assets. They are simply another asset class that can be traded or used as a store of value, but they cannot function as a medium of exchange in the same way as money.
2. The article does not provide any evidence or data to support the claim that diamonds are worth $1.2 trillion and are once inaccessible to investors. This figure seems arbitrary and exaggerated, and it does not reflect the actual market size or demand for diamonds. Moreover, diamonds have always been accessible to investors who can afford them, and they are not a new asset class.
3. The article fails to explain how Carats works as a digital commodity currency. It does not clarify the mechanism of converting diamonds into digital tokens, or how the value of these tokens is maintained in relation to the physical diamonds stored in Brinks vaults. It also does not address the issues of security, transparency, and auditability of the system, which are crucial for ensuring trust and confidence among users.
4. The article suggests that Carats allows users to send and receive money globally without regulatory hurdles. This is a false and unrealistic claim, as any digital asset or currency that involves transactions across borders is subject to various laws and regulations, such as anti-money laundering, taxation, sanctions, etc. Carats cannot bypass these legal requirements, unless it operates in a jurisdiction where there are no relevant rules or enforcement mechanisms.
5. The article expresses an irrational enthusiasm and optimism for Carats and its potential to revolutionize the global money transfer industry. It ignores the existing alternatives and challenges that face Carats, such as the competition from other digital assets, the volatility of diamond prices, the lack of awareness and adoption, etc. The article also appeals to emotional language, such as "skip the bank", "revolution", "here's how", which are designed to persuade and influence readers, rather than inform them objectively.

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