GLITZKOIN: AN INTRODUCTION OF THE BLOCKCHAIN TECHNOLOGY INTO THE DIAMOND INDUSTRY

capableuwa (44)in #glitzkoin • 6 years ago

The economy of the world is formed by the emotions of those that live in the world. It becomes an interesting phenomenon to be taken into consideration in general. Sometimes, when things are not in order, all assets which which have a price tagged attached to it begins to fall in price and just one class remains stable. The number one role in this condition is Diamond. So, what is diamond? Carbon they say according to science exhibit and exist in a solid form, therefore the solid state of carbon is Diamond. Its has a cubic crystalline structure. Diamond is well known because of its superlative physical qualities its possessed. It also possess the highest hardness and thermal conductivity of any bulk materials. It can also be referred to as the hardest material on earth and has since been recognized for its beauty as a gemstone. It is rare in nature and difficult to find. Most people talk about diamond but have not really seen diamond that is to tell you how rare diamond is across the globe. In Africa, diamonds are the major natural resources in the Africa region. A research shows that and estimated value of close to about $15 billion worth of diamonds are roughly produced per year which can be estimated to approximately $8.5 billion from Africa which makes an approximate of 65% in value. Historically the value of diamond does not depreciate in any form or ways and diamond can not lose its value, it is has an unshakable durability. Traditionally, transactions in the diamond industry are made via personal contact where both parties try to access each other before a deal can be strike. Though there are some loopholes and risk involved as it is popularly stated to trust and value the diamond dealer before valuing his diamond. This raise more questions with regards to the transactions in the diamond industry.
Today i introduced to you a platform whose focus is to ameliorate transactions in the diamond industry by introducing the blockchain technology. The blockchain technology have been well known for its security and transparency in the cryptocurrency space. I bring to you Glitzkoin.

GLITZKOIN

Glitzkoin will deployed the blockchain technology in the diamond industry thereby creating transparency, security and trust among diamond dealers. In the traditional mode of transactions, it has been seen that transactions involving diamond have not be safe and some many diminishing barriers, death rate, lack of trust have been recorded during the transactions. Glitzkoin is a global platform that is designed with the best digital and emerging technology in the world to reduce risk and fraud for banks, insurers and the open marketplace in the industry industry. The platform offers a decentralized exchange for the diamonds and other related services, meaning the trade is open for all and this will create an avenue for crypto holders to have access to diamonds.

GLITZKOIN AND THE DIAMOND INDUSTRY
Before the emergence of the glitzkoin platform, transactions involving diamonds have been carried out whereby an individual will have to submit some documents for registration and accreditation which is subject to the rules and regulations of the industry. This method involves the use of a third party or an escrow as it is popularly known for in this part of the world. These are now referred to the traditional way of transactions in the diamond industry. Glitzkoin have come with a new method in the industry by the introduction of the blockchain technology, this new technology does not require the service of a middle man, a third party or an escrow, it will create transparency within the platform and buyers and sellers can trade at ease with less risk involved. All Glitzkoin solutions is aimed at making profits.

SOME UNIQUE FEATURES OF THE GLITZKOIN PLATFORM

It has a Decentralized Market Place for trade in diamonds: this helps to facilitate a trustless transactions between diamond traders, it enabled anyone within and outside the ecosystem to purchase diamond and also reduces time of transaction as the traditional method consumes more time and energy.
Its encompassed a global track and trace with the platform: this helps to give an accurate record, origin and history of each diamond.
Integration of the latest blockchain technology into the diamond industry: this helps to create an easy means for transportation, reducing cost while improving efficiency.

TOKEN ECONOMY
Token Ticker: GLT
Token Total Supply: 999, 000, 000 GLT
Token Standard: Stellar wallet (XLM) Compatible
Soft cap = $10M
Hard cap = $40M