Glitzkoin: Superior Diamond Blockchain With Cryptocurrency

adebits (11)in #diamond • 6 years ago (edited)

Diamonds have been treasured as gemstones since their use as religious icons in ancient India. Their usage in engraving tools also dates to early human history. The popularity of diamonds has risen since the 19th century because of increased supply, improved cutting and polishing techniques, growth in the world economy, and innovative and successful advertising campaigns.

The need for transparency, visibility and objectivity in the multibillion dollars diamond industry was felt many decades ago. The need for person to person contact when processing a diamond purchase or sale, limited the size of the market. GLITZKOIN focuses on integrating the best features of the conventional diamond industry with, the utility and functionality of the latest blockchain technology.

GLITZKOIN is a global startup that uses the best of emerging technology including blockchain, smart contracts and machine learning to assist in the reduction of risk and fraud for banks, insurers and open marketplaces in the diamond and precious stone industry. GLITZKOIN provide a full ecosystem for the diamond industry from a supply chain solution, to tracking & certification of diamonds and finally a decentralized exchange for the trade of diamonds and related services.

GLITZKOIN seeks to transform the diamond industry by diminishing barriers, increasing coordination, and instilling trust in cross-border transactions for the diamond industry.

CORE FEATURES OF GLITZKOIN ECOSYSTEM

Diamond Industry Blockchain Supply Chain- GLITZKOIN supply chain combines privacy, accessibility, and security to create enterprise-ready applications.The propriety blockchain has privacy options configured specifically for the diamond industry.The platform ensure transparency by building on both, public and private blockchains so as to achieve a hybrid technical model. This combines the best of both worlds; high security of the public blockchain is paired with permissioned controls in private blockchains, this allow us to better serve the industry.

Decentralized Exchange- GLITZKOIN implements a global exchange that focuses on bridging the gap between the traditional diamond industry and the innovative financial markets spearheaded by cryptocurrencies. With extensive industry knowledge,they aim to engineer a ground-breaking change – enabling people to liquidate and invest in diamonds like any other financial asset, all within a transparent and secure environment. The GLITZKOIN Diamond Exchange enables anyone to invest in individual diamonds, shares of a high-value stone or shares in a basket of diamonds like an ETF.

Traders can have full confidence in buying and selling, even without prior knowledge of diamond trading. Thanks to
the decentralized nature of the exchange, our machine learning algorithm, and blockchain technology that rates a
diamond’s asking price, the value of any diamond listed on the Exchange is completely transparent; liquid because it
creates a two-sided market by enhancing both the supply and demand and standardized because GLITZKOIN creates a
unique benchmark value, rate and smart contract for every stone.

Global Diamond Track and Trace- GLITZKOIN builds a global, digital ledger that tracks and protects valuable assets throughout their lifetime journey. We collect an asset’s defining characteristics, history, and ownership to create a permanent record on the blockchain. This digital incarnation, or thumbprint, is used by various stakeholders across a supply chain pipeline to form provenance and verify authenticity.

The blockchain based tracking for certified diamonds records attributes and origin for each stone. This critical information is available to anyone who wants to verify the authenticity of a specific diamond, this provides for Theft Prevention. Buyers would show a high preference for authenticated diamonds. Besides authentication of diamonds, the GLITZKOIN platform will also make it possible for a stone to be tracked all through its journey on the value chain.

ICO DETAILS AND GLITZKOIN(GLT)SPECIFICATION

The token is Stellar Blockchain compliance token, the token will be used for transactionns in Glitzkoin ecosystem. Its value will depends on many people in diamond chain of production and retailing are using the platform. Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ripple (XRP) and Stellar (XLM) are accepted as the mode of payment for GLITZKOIN Token purchases.