Global evolution has been a constant change over time with the introduction of new technology in some aspect of life. When I mean change in some aspect of life, I mean innovation for the betterment of getting things done. The term "diamond" which stems from the Greek word "Adamas" meaning unbreakable, is the hardest natural substance on the planet earth. It is made up of entirely carbon atoms and these carbon atoms help to form crystals of diamonds with the right combination pressure and temperature conditions.
The traditional diamond exchange system is centralized and controlled by few people. The traditional mode of diamond exchange is centralized and not all transparent, thus new investors and the modern internet age buyers have clamored for a decentralized diamond exchange network that will put away the question of transparency and distrust.
- Expensive middlemans.
- Complicated storage of records of diamonds old-fashioned with paper.
- Fraudaulent transactions.
- High fees due to currency conversions and bank fees through international transactions.
Total token: 999,000,000.
Soft cap: 4,200,000 USD.
Hard cap: 41,800,000 USD.
The integration of blockchain technology into the diamond supply chain will ensure equal conditions for all participants. The future platform will bring together all stakeholders involved in the diamond trade — from the mining process to the sale. This will significantly improve the efficiency of the entire sector.
The implementation of the block chain in the diamond production sector will provide the Union as a private or public distributed registers to create a hybrid model with increased transparency in comparison with traditional structures. Other benefits of the blockchain platform include privacy, usability, immutability, and compatibility with third-party applications. The use of block technology will involve all participants in the diamond industry to coordinate the actions of people interested in the development of the global diamond market.
Each gem presented by its owner will receive a full description from the experts. This information and price will be available for free viewing. To do this, the platform will include a stock exchange with the ability to sell and buy diamonds. The exchange currency will be the GLT token. It will be used as a means of payment within the system of smart contracts.
The Glitzkoin being an open ecosystem, consists of user applications that will give traders, buyers and stakeholders a smooth experience while using the platform.
The Glitzkoin also launched it’s token in the second quarter of 2018. The Glitzkoin platform looks a very promising platform.
Work on the Estonian project Glitzkoin began in 2017. By the end of last year, its authors had already published a White paper and prepared a plan for the implementation of the concept of changing the segment of the extraction of valuable minerals and the introduction of the block chain in the diamond trade.
The team of developers and advisors includes 12 people, including:
- NavNet Goenka (Executive Director, born in a family closely associated with the global diamond industry, has twenty years of experience in this field and has played an important role in identifying critical deficiencies that lead the industry to stagnation).
- Lila Hussein (head of business development Department, has twenty-three years of experience in financial, strategic and operational management, previously more than 14 years served as General Manager of the largest air show in Southeast Asia, Lima Airshow, is a member of the Council of various human rights organizations and women entrepreneurs).
- Shashank Agarwal (technical Director, graduated from Imperial College London has an MBA, an expert on blockchain with more than 10 years of experience in the technology industry, well versed in web and cloud applications that previously worked in various companies in UK, UAE and India).
- Nilesh Agarwal (head of product development Department, has extensive experience in the most well-known high-tech companies such as Microsoft, Amazon and Samsung, specializes in creating intuitive and user-friendly interfaces).
- Olga Rosina (diamond specialist, holds a master's degree in management and computer science, a veteran of the diamond industry with more than twenty years of experience, previously worked in companies such as Alrosa and Gokhran, in the 1990s has repeatedly become the winner of the beauty contest in Russia).
In addition, the project GlitzKoin gives the opportunity for companies to actively pursue individualized application of the chain where the data are strictly classified. With Glitzkoin offering a new marketplace for buyers and sellers using the blockchain technology, I think that trading will be more simplified as well as safe and therefore more and more people will be going to use the marketplace that before didn’t know how to buy or sell their diamonds.
Website : https://www.glitzkoin.com/.
ANN Thread : https://bitcointalk.org/index.php?topic=3355944.0.
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Medium : https://medium.com/glitzkoin.