GLITZKOIN: THE DECENTRALISED DIAMOND INDUSTRY USING BLOCKCHAIN TECH

elmichaels (1)(1)in #blockchain • 6 years ago (edited)

INTRODUCTION
(GLITCOIN, THE MILLENNIALs INDUSTRY)

Diamond is a precious gemstone that has existed since time immemorial, it is very precious as it is said to be the hardest substance known man. With this review you will be able to see the workings of the diamond industry and how GLITZCOIN has come to revolutionise it and make it open and accessible to all.

Brief Summary On Diamond
As mentioned earlier, Diamond is the hardest material on Earth, it beauty and glittering nature after being polished makes it an extremely valuable gemstone. Other than being a gemstone, it extremely hard nature makes it very useful as a material for cutting and grinding tool to serve industrial purpose. The demand for both rough(direct from the Earth) and synthetic diamonds (lab-made) has risen due to the demand from China, India and the U.S.A and the emergence of the millennial generation, but this millennials are tech savvy, well educated and always on the internet. Therefore the best and most efficient marketing strategy is understand and orientate them about diamonds (gemstone and industrial use) that best suits their lifestyle.

INTRODUCING GLITZKOIN

The blockchain technology as we know has brought about a shift in the way individuals and companies do busimess but that change hasn't affected the transaction in the diamond industry. The fact that diamond transactions must be made only by physical contract, means you must always value the dealer before you value the diamonds. But even with this evaluation , transactions stakeholders are still exposed to guess work and misconception.

Glitzkoin, a major player in the diamond industry bring transparency and ease to the diamond industry by integrating it with the latest decentralize internet value system(blockckain technology). The aim of this ecosystem is to bring and reduce the risk from supply Chain to tracking and certification of diamonds. This technology will help secure the diamond pipeline and also ancillary services like shipping, finance and insurance.

Glitzkoin is here to improve the diamond industry using four key components, which are:

Create a supply chain on the blockchain for the diamond industy:
The need to link all stakeholders in the diamond industry on a single platform makes the Glitzkoin platform user-friendly, secured workspace which keeps historical records and connects all involved stakeholders in the diamond pipeline. This also reduces the ancillary service payments that hinders diamond transaction process.
DECENTRALIZED EXCHANGE:
Glitzkoin exchange market uses proprietary machine learning algorithm to give full control to Glitzkoin users. This gives full confidence to buy and sell diamonds amongst Glitzkoin users.
GLOBAL DIAMOND TRACK and TRACE :
Glitzkoin users can build digital ledgers that track and protect valuable digital assets through lifetime journey. Glitzkoin uses smart contracts that enhances transparency and authentication of a diamond. This track and trace algorithm features a permanent global ledger that protects a diamond during its exchange journey.
OPEN ECOSYSTEM:
The Glitzkoin ecosystem helps connect the mining and polishing companies to the jewelry store. The Glitzkoin wallet enables coin management for its users and also helps to the efficient creations of smart contracts.

TOKEN DETAILS

The Glitzkoin token, the GLT is the only token that will be used in the Glitzkoin ecosystem and it will be use to facilitate smooth financial settlements, in order to create transparency in the platform.