GLITZKOIN Expands the Diamond Trading Market.

in cryptocurrency •  15 days ago

Мэрилин-Монро-и-бриллианты.jpg

Jewelry quickly wears out and loses its appearance, but precious stones and metals never age and don't go out of fashion. If the way to the heart of a man lies through the stomach, then to woman heart through a ring with a stone. Any girl at least once in her life wants to be a little princess. If you think that it's just whims — then you are deeply mistaken. Diamonds are the best investment, the money should be invested in something ageless and indestructible — in jewelry.

The existing diamond trading market is closed and based on personal contacts between the seller and the buyer. As professionals say, you first need to evaluate the seller and only then his stones. And even this doesn't give any guarantees. In such circumstances, reputation and trust are the basis of successful trading. This state of affairs has attracted many scams trying to sell counterfeit, disputed or defective diamonds. The closed and specific nature of the market hampers its development, standardization and transparency. The situation needs to change.

Tasks Of The GLITZKOIN Blockchain Platform.

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Creating a global platform for the diamond trade, developers solve the following tasks:

  • turning diamonds into an investment asset, like raw materials or commodities;
  • integration of all market participants into a single ecosystem;
  • track the history of each diamond;
  • entering all diamonds parameters in the unified register and simplification of certification;
  • protection against theft, forgery and fraud;
  • facilitation of buy/sell transactions between participants;
  • providing an opportunity for any person to buy or sell diamonds;
  • establishment of a standardized, transparent and safe diamond trading mechanism.

What Will Be The Way To Achieve These Goals?

To create a platform, it was decided to use the Stellar network, which will provide good scaling, reliable storage and transparency of information.

The blockchain technology doesn't provide for the peculiarities of diamond trading. It's that, for example, the characteristics of the diamond, its history, rating and price should be publicly available. Information about the purchase, the transaction amount and other financial characteristics cannot be accessed without special rights.

To do this, either zk-snarks (zero-knowledge proof) or bulletproof (mask that hides the amounts and leaves open the sender and recipient addresses) will be used.

Operation Algorithm of The Platform.

A smart contract is created for each diamond listed on the exchange. It describes all the gemological characteristics of the stone and its cost. The system will use machine learning to generate fair diamond prices.
After creating a smart contract, the diamond deposited in the exchange is physically moved to the guardian's storage. If the buyer wants to take the stone for storage, his smart contract is removed from the exchange.

In fact, the exchange carries out trade in diamond smart contracts. Two schemes are used:

  1. One stone, one contract.
  2. One stone - several contracts.

In the latter case, this situation occurs when diamond value and its partial purchase is high. The same type can be used to create a diamond investment basket.

Summary.

The GLITZKOIN project is created by experienced professionals. Due to the specificity of the diamond trading market and its capitalization, its opening to new investors promises interesting prospects for all participants and the industry as a whole.

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Great review on Glitzkoin. This is surely a great project for the diamon industry.

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hello, @bumshak! great you liked it! stay tuned. Mercy ;-)

if in the field of fake diamonds is very unpleasant because nowadays very many fake jewelry whose name is circulated very many people who deceived,

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hey, @takin ! The purpose of this project is to make this market more transparent, and therefore honest. And most importantly - affordable! Time will show what will happen in the end. Cheers!

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beautiful woman

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Hey, @albayeun ! woman with beautiful diamonds. Marilyn Monroe and expensive stones -It seems as if created for each other ;-)

Integrating real world assets with blockchain is the future. I like the idea behind this one since diamonds are all unique the blockchain can provide proof of provenance as well as tracking. Thanks for the article.

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Blockchain and diamonds are a good cooperation . Diamonds always go up in value, but also fight with fakes is getting harder, then the project will be able to help.

Glitzcoin, is it too flashy for you? check out the whirte paper as always before you invest.
We've begun upvoting and resteeming to our network, this will happen over many hours and has potential to reach our 29,000 followers for you.

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It seems @reteem.bot doesn't like competition....is the flag fair or just bad bad business?

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Funny if he talk to himself from account 2 to account 1. This is one person.

@resteem.bot

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@resteem.hero does resteem for FREE, but it is part of @premium.resteem network too.
Users may choose 1 Free resteem or by paying they get resteemed many times over many hours.
@resteem.bot = 1 Resteem blast .....hmm which is better?

I am part of resteem.hero network too.

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This is another one of his accounts, he tries to pretend that several people are involved.
Sometimes he even talks to himself from one account to another, of course how good his service is. Very funny.

His "network" is one person with many accounts.

But that's not the main problem.

For example, if he has 100 accounts and one person follows all accounts, then that is not 100 follower, it is still 1.

His alleged 29000 followers are scam.

@resteem.bot

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guys , don't fight under my article ;-) it is better to write how you feel about diamonds.

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Like he tries to fake this "conversation" with 3 accounts so he also fakes his "service".
Don't let him scam you.

@resteem.bot

Resteemed to over 18800 followers and 100% upvoted. Thank you for using my service!

Send 0.200 Steem or 0.200 Steem Dollars and the URL in the memo to use the bot.
Read here how the bot from Berlin works.

#resteembot #bestofresteembot #winwithresteembot

@resteem.bot

Feel free to join our partner crypto exchange: https://www.binance.com/?ref=10230705.

@resteem.bot

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In reply to your downvote... is that fair business or just bad business? @premium.resteem is a network of accounts not operated by a bot and a user's post is upvoted and resteemed over a number of hours by real human beings not souless software (and not in one go). We believe it is selfish to downvote just because you have fair competition.
Oh yes, we also read the post and make human comment too.

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He is just a scam.

Even if he have more accounts he can't just add the followers because there are duplications.

followers account 1 + followers account 2 + followers account 3 = wrong

@resteem.bot

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I don't think so. Which is better being blasted ONCE to 18,000 or multiple times uin our network over many hours ( mamy more chances to be noticed. Also iif we counted all of the network followers it would be over 50,000 we don't count every follower as we know some are just duplicate.We are also a human network.

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This is another one of his accounts, he tries to pretend that several people are involved.
Sometimes he even talks to himself from one account to another, of course how good his service is. Very funny.

His "network" is one person with many accounts.

But that's not the main problem.

For example, if he has 100 accounts and one person follows all accounts, then that is not 100 follower, it is still 1.

His alleged 29000 followers are scam.

@resteem.bot

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guys , don't fight under my article ;-) it is better to write how you feel about diamonds.

how fashine the girl is!

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@yaru! Idol of that time!