GLITZKOIN: CHANGING THE FACE OF DIAMOND INDUSTRY WITH DECENTRALIZED BLOCKCHAIN TECHNOLOGY

Glitzkoin is a decentralized platform for diamond transactions in a secured and transparent way based on stellar blockchain.

Diamonds are natural resources that glitter and they represent prestige and wealth. They are Africa's major natural resources of which approximately 65% of rough diamonds produced per year are from Africa. The sale of diamond jewelry increases per year and according to statistics, the net worth is in excess of 79 billion USD every year.
With its growth in value, diamond is seen as an asset to hold on to rather than making transactions with them. This is largely so because there is no transparent platform to buy or sell diamonds. The only available option is the conventional method where you make use of your guesses and try to trust a dealer enough not to fraud you. Transactions in this method take a longer process of meeting with the other party to discuss business, hence, diamond transactions are restricted. Also, the fees charged by middlemen and third parties are exorbitant. In addition, the traditional means of trading do not facilitate tracking the movement of the stone. Some blockchain based platforms that have proposed solution have not been able to wipe out all these challenges.

GLITZKOIN'S VISION
Glitzkoin is set to build an ecosystem where transparent diamond trading can take place in a coordinated manner. This is achieved through emerging technology such as blockchain, smart contract and machine learning.

The benefits which Glitzkoin offer against the traditional model are:

• SUPPLY CHAIN SOLUTION
  The aim is to create a decentralized marketplace for diamonds where buyers and sellers from anywhere in the world can connect without any restrictions. This will facilitate collaboration between stakeholders right from mining companies, polishers to retail consumers for smooth transactions. Sellers' transaction history are securely recorded on blockchain for buyers to review, hence, transparency is enhanced. Glitzkoin is providing an efficient, cost effective and faster transaction as opposed to the conventional paper based transaction processing.

• TRACKING AND CERTIFICATION OF DIAMONDS
  Glitzkoin ensures that only certified and authenticated diamonds with its history permanently recorded on blockchain are put up for global trade. Besides, smart contracts are designed specially for digital certification and verification to prevent theft. There is also a global ledger on blockchain that trace diamonds on their lifetime journey thereby giving protection to them. This will restore trust and confidence to the industry at the same time combating fraud. As time goes on, other precious stones will be added.

• DECENTRALIZED EXCHANGE
  By machine learning algorithms, there is a global exchange which will allow individuals trade diamond like any other financial asset rather than holding onto it. Transactions are faster in a seamless and transparent manner while further enhancing acceptability. Before a diamond can be listed, it must be certified and its characteristics visible to everyone. One good thing about trading on Glitzkoin platform is that its users will have the option of selling the stone either as a single Diamond-Smart contract or as a multiple Diamond-Smart contract, called the shared investment option.
  Glitzkoin will facilitate third party services such as shipping, insurance, finance without charging any commission for them.

GLITZKOIN WALLET
This wallet is compatible with all devices where users and developers will be able to follow their transaction history, balances, subscription contracts and the likes.

TOKEN AND TOKEN DISTRIBUTION
The token name is Glitzkoin with the symbol, GLT. It is in partnership with STELLAR community. For GLT token purchases, the accepted cryptocurrencies are Bitcoin, Ethereum, Ripple, Litecoin and Stellar.

MANAGEMENT TEAM

ADVISORS

CONCLUSION
In conclusion, Glitzkoin will change the face of diamond industry with its superb features. This blockchain based ecosystem which combines privacy, security and simplicity is one that investors and traders should take advantage of in order to invest in diamond. Developers will integrate Glitzkoin API (Application Programming Interface) into the website which can be used to access the various services offered.

To know more about Glitzkoin project
Join the Telegram Group: https://t.me/joinchat/H2lmsxLwenY3S8Fp_CFQBA

Follow on Twitter: https://twitter.com/GlitzkoinToken

Follow on Facebook: https://www.facebook.com/GlitzKoin-193241214767377/

Follow on Medium: https://medium.com/glitzkoin

Website: https://www.glitzkoin.com/

Whitepaper: https://www.glitzkoin.com/dist/img/pdf/Glitzkoin-Brochure.pdf

ANN Thread: https://bitcointalk.org/index.php?topic=3355944.0

Information about the author
Bitcointalk username: Anike01
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1565368
Stellar wallet address: GCDPYAR55FLCBQ7NFBC75MHM4NO5UP3KBLYCCMZC3TTTWKU534KL4JNF