💎Diamond Standard Co. has launched CARATS, a blockchain payment system using tokenized diamonds instead of traditional currencies. The system allows users to buy, trade, and transfer these diamond tokens, even cashing out in local fiat or exchanging for physical diamonds. CARATS bypasses regulatory hurdles faced by centralized exchanges and payment services, as it's not a cryptocurrency but a physical commodity receipt system. This innovation highlights the struggles faced by many, including Elon Musk's X platform, in acquiring necessary money transmitter licenses across multiple jurisdictions. 🚀