At all times, precious stones and metals were considered a symbol of wealth and luxury. To own them means to belong to the highest social stratum of society. And it is a value, the fashion that never passes and which is constantly growing in price. And of course, if a man wants to make an expensive gift to his beloved, then he gives diamonds. No wonder they say that diamonds are the best friends of girls.
Diamonds are one of the most stable investment tools, and tend to grow steadily. Also, with the help of them, investors minimize risks, as they are "resistant to the crisis." From September 2008 to October 2009, when one of the largest financial and banking crises in history occurred after the collapse of Lehman Brothers, the price of diamonds fell by an average of 16.5%. Gold fell by more than 21%, platinum by about 59%, S&P 500 – by 52%, the Shanghai stock exchange fell by more than 69%. The benefits of investing are obvious.
Everyone wants to own diamonds despite the fact that it is a very expensive purchase because it is a symbol of prestige. Every customer buying them wants to be 100% sure that this product is of the highest quality and not exactly a fake. The modern market is closed, it is based on personal contacts between customers and sellers and in fact buy diamonds from dealers with a high reputation. Special the specifics of the market and the absence of a global database of diamonds attracted a large number of scams that sell damaged and stolen diamonds.
Platform Glitzkoin qualitatively improve this market!
Glitzkoin is a worldwide decentralized marketplace for trading diamonds, is developed on the blockchain Stellar with the use of smart contracts. Thanks to this platform, new opportunities will be created and many problems of the industry will be solved:
1. A single global base of diamonds will be created, which will have access to all market participants;
2. Development of a transparent, safe and standard trading mechanism;
3. Now everyone will have the opportunity to sell and buy diamonds;
4. Each diamond will be recorded in the blockchain and you can view its entire history;
5. All diamond characteristics and full documentation will also be stored in the blockchain;
6. Simplified certification system and protection against counterfeiting and fraud;
7. Easy and safe process of investing in diamonds as in any other investment instruments.
How would that work?
As I said earlier, each diamond will be entered into a single register, and on the exchange it will be equivalent to a smart contract. It records all Gemological characteristics of the diamond including its cost, which will be regulated by machine learning. At the same time, the diamond rating, its history and price will be publicly available information, and the trading history including the sender and recipient addresses will not be available without special rights.
After entering the data in the register, the diamond will be transferred to storage. The user who bought the diamond will be able to get it for storage. Then the smart contract becomes a supply contract, and after the delivery of the diamond to the owner the contract will be removed from the exchange.
What are the benefits to investors Glitzkoin?
On the diamond exchange Glitzkoin will be several investment options by buying individual diamonds, shares of precious stones or shares in a basket of diamonds an analogue of ETF.
The Glitzkoin platform introduces an innovative type of trading called "Equity investment" - partial ownership of a diamond. This will enable small customers to invest in diamonds that were not previously available.
Conclusions and prospects of the project
In the project team there are specialists whose experience is 20 years in the diamond industry, and this suggests that the project will be made qualitatively and thoroughly thought out. The emergence of such a project will attract new investors and open up additional prospects for private investors and funds. And the introduction of blockchain and smart contracts will increase confidence in diamonds as an investment tool and make the trading market standardized, simple and safe.
Friends, thank you for reading! What do you think about Glitzkoin?
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