GlitzKoin: Pioneering the Diamond Blockchain

clauming (7)in #crypto • 6 years ago

Introduction

Hi dears, another interesting project is being started. First of all, for who missed previous entry, what's a cryptocurrency? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.

All this racket of cryptomoney has been increasing exponentially, however, most people know nothing about how blockchain technology works, what a smart contract is and how it could be used. For this very reason, I will first of all carefully introduce this type of block chain technology.

Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, paypal, etc.). The blockchain is the technological basis for all cryptomontages, whether Bitcoin, Ethereum, Hyperledger, etc.

An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agree. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.

After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.

Diamonds are one of the main natural resources of the world, and specifically of Africa. Due to the need for person-to-person contact when processing a diamond purchase or sale, it limited the size of the market and generated the need for transparency, visibility and objectivity in the diamond industry for many decades.

For this reason, the project I am going to present you is Glitzkoin, first decentralized blockchain-based crypto project that focuses on integrating the best features of the conventional diamond industry with the utility and functionality of the latest blockchain technology.

Presentation

Definition

Glitzkoin (https://www.glitzkoin.com/) is a global startup that uses the best of emerging technology, including blockchain, smart contracts and machine learning to help reduce risk and fraud for banks, insurers and open markets in the diamond industry and the precious stone. Specifically, the project has created a diamond trading platform based on a highly advanced blockchain with a cryptographic currency to facilitate financial arrangements without problems, with a strong focus on transparency and security. The Glitzkoin diamond platform is the first major revision of the diamond industry in decades and provides immediate access to buyers of new and existing diamonds to connect with existing sellers anywhere in the world.

Goals
First, by integrating the latest blockchain technology into the diamond industry's supply chain, Glitzkoin aims to improve the cost of transportation, the lack of visibility and the inefficiencies of paper-based processes through a platform global commerce that uses blockchain technology and connects all stakeholders of mining companies with retail customers.
In addition, the company aims to create a chain of blocks based on the tracking of certified diamonds and a record of the attributes, the origin and history of each diamond, the prevention of theft through authentication and monitoring of diamonds and the track stones along your value-added trip. It aims to get all the pieces taking advantage of Global Diamond Track and Trace.
Finally, it will create a decentralized market for the diamond trade that will facilitate transactions without trust among diamond traders and allow anyone to buy and sell diamonds. In addition, it will provide auxiliary services such as transportation and insurance of diamonds provided by third-party suppliers and will drastically reduce the time necessary for the settlement of commercial transactions.

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Benefits
The main benefits Glizkoin brings to the diamond industry are:

Facilitate ease and efficiency in compliance with transactions
Guarantee transparency through the creation of public and private block chains
Keep transaction data completely private, both transaction data and trade secrets remain encrypted and hidden for competitors
No technical knowledge is required for companies or users

More specifically, the three main branches of the platform offers users many other advantages:

Supply Chain	Decentralized Exchange	Global Diamond Track and Trace
Completely safe	Allows people to liquidate and invest in diamonds like any other financial asset, all within a transparent and secure environment	Tracks and protects diamonds and other valuable stones during their lifetime
No technical knowledge required	Allows anyone to invest in individual diamonds	Protects the provenance of high-value assets such as diamonds. This facilitates trade without confidence in the global market while reducing risk and fighting theft, traffic and fraud
Securely record historical data and transactions, allowing suppliers to prove their reliability to buyers and rating institutions	Creates a unique reference value, an interest rate and an intelligent contract for each stone	Increases transparency in the diamond supply chain
Allows companies to quickly create customized supply chain applications, from end to end, with data privacy	Allows transactions without trust between diamond traders or between any two parties

Roadmap

Quarter	Q4 2017

Initial Spark followed by a background investigation
Development of Initial Concepts and Reach to the Diamond Industry Initial White Paper and Design Prototypes

Quarter	Q1 2018

Scope of the Glitzkoin Project, Case Use Design of Tokens and Founder Team of the Economy Nucleus of Tokens on Board
Company in stealth mode, registered company in Estonia
Deck and White Paper Project, Technical Architecture
Official website Launch Token Launch Presale

Quarter	Q2 2018

Launch of the public sale of chips
Conclusion of the sale and distribution of cards Development of the exchange of GlitzKoin diamonds
Start the GlitzKoin Global Marketing Effort

Quarter	Q3 2018

List of GLT tokens in Crypto Exchanges
Beta Testing of the Development of the Diamond Exchange Platform of the Global Diamond Tracking and Tracking System

Quarter	Q4 2018

Deployment of decentralized central
Correction of errors and improvements in the implementation of the Global Diamond Track and Trace System in the implemented system

Quarter	Q1 2019

Adding more features / tools to the GlitzKoin Diamond Exchange Continued the Marketing to Increase the GlitzKoin Knowledge

Airdrop

The project gives the opportunity to earn Glitzkoin (GLT) tokens performing some social media tasks and doing simple steps from the bounty program explained into the Bitcointalk platform. Here (https://bitcointalk.org/index.php?topic=3534822.0) you can access to the link in order to see what are the conditions to become an early GLT contributor and start acquiring tokens.

Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (https://www.glitzkoin.com/dist/img/pdf/Glitzkoin-Brochure.pdf). You can also stay tuned in their official Telegram group (https://t.me/joinchat/H2lmsxLwenY3S8Fp_CFQBA). I hope you liked the post and soon I'll send you new ones.

Extra details

Token: GLT
Platform: Stellar
Type: Stellar
ICO price: 1 GLT= 0.2 USD
Tokens for sale: 245,000,000