GLITZKOIN_The Future Intelligence Updating the Diamond Industry

prasannpr143 (51)in #diamond • 6 years ago (edited)

Diamond industry produces 15 Billion US dollar worth rough diamonds per year and diamond jewelry worth 79 Billion US dollar annually. But from the ancient times, the supply chain of diamond industry shows environmental inefficiencies , ethical problems and inefficiencies in transparency. Existing Diamond market suffers form

Low Transparency
Higher Centralization of the Market
Inaccessible Knowledge of Diamonds
Low Confidence of New Customers
Improper Communication in the Network

Current processes of the diamond market are outdated. Because of that diamond market has been gaining considerable losses in the past years. Other engaged industries have gaining huge profits by providing services to the diamond industry.

GLITZKOIN creates a digital certificate for every diamond registering on the platform. From that all the transactions and details of diamonds will be safety stored in the Blockchain. GLITZKOIN project has the first successful Utility Blockchain in the diamond industry. After information was stored in the blockchain, even the GLITZKOIN company owner cannot alter that data, that is due to the unique quality of the public ledgers which are using in the GLITZKOIN platform. Generally the Blockchain itself can be identified as an decentralized, distributed and public digital ledger.

Customers generate an unbreakable trust with these stored informations. GLITZKOIN enables a feature to track diamonds from the mine to all the owners. All the details will updated in the Blockchain. Due to this track and trace facility a strong theft prevention will enabled. Anyone uses the platform can get information about the ownership of any pre-registered diamond.
In brief GLITZKOIN provides,
-Tracking & tracing of Diamonds
-100% Decentralized marketplace for diamonds
-Converting Traditional supply chain of diamond to a Blockchain based ecosystem

The GLITZKOIN ecosystem provides a higher level of connectivity among diamond sellers, traders, buyers, and among other Stakeholders, by providing a seamless experience. For the first time in the history anyone can buy diamonds online with no barriers. GLITZKOIN ecosystem can identify as trustless system. Trustless is a term that has become common since the Blockchain technology which defines that no trusted third party wanted in transaction. Anyone from anywhere can make a transaction with no paperworks in no time. This is the true revelation of the technology overtaking what it should. Due to that even the stakeholders of mines also can strongly participate in the retail market of diamonds. Eventually that leads to a competitive diamond market. Correct prices of diamonds will be revealed to the world by attracting new buyers and seller to the industry. Blockchain is a tool that can increase transparency in the industry, so current systems of diamond industry will be upgraded to a new level.

The working team of professionals can create a big influence in projects like GLITZKOIN. GLITZKOIN owns an expertise'd team and well experienced advisory board consists with Mr. Mikhal Kozlove, Mr. Datuk Mat Rabi Samah and Mr. Paolo Alberttelli. Their fields differs from diamond industry to Blockchain development, therefore the project has created using the maximum level of intelligent.