GLITZKOIN: BRINGING BLOCKCHAIN TO THE DIAMOND INDUSTRY TO FACILITATE EASY BUYING AND SELLING BASED ON TRUST AND TRANSPARENCY

zubbykay (39)in #ico • 6 years ago

Regarded as one of the world's major natural resources with half of the global output coming from africa, diamonds can be refered to as one of the precious gift of the universe to mankind. Diamond is said to be extremely rare and it is a gemstone said to be a solid form of carbon which has a diamond cubic crystal like structure. Four major characteristics can be said to be a descriptive factor of diamond which can also be refered to as the four Cs and the include:

The CARAT which deals with the weight.
The CUT which dwells on the quality of the symmetry, the polishing and also the proportion
The COLOR which involves how close to white is it .
4 The CLARITY which considers how free it is from unwanted materials (inclusions).
Ever since the discovery of diamonds, it has been used for different purposes and majorly for adornment though it can also be used in industries as industrial abrasives for cutting materials that are extremely hard.
Diamonds in our modern day society revolves around the keywords glamour, prestige and glitter. It is regarded as a precious stone for the wealthy and the luxurious. Transactions involving the trade of diamond involves critical assay involving both the dealer and the buyer it is a trade based on trust and also personal connect. Even though both the dealer and the buyer tend to do critical evaluation of eachother before releasing their diamond or cash they still end up question the trust and transparency in the trade. GLITZKOIN is a platform which is developed with the initiative of bringing simplicity coupled with transparency to the diamond industry.

GLITZKOIN PLATFORM
Diamond trading is said to be faced with hunches as well as trust issues despite the critical evaluations carried out before the trade-off which however posses as a major setback to the diamond industry but however the GLITZKOIN platform is a decentralised platform on a mission of transformation in the diamond industry. Glitzkoin is bent on bring trust, transparency, coordination and visibility in the diamond industry. Glitzkoin incorporates the latest of blockchain technology to help acheive their mission of providing a conventional diamond industry with the best features.

Glitzkoin uses both blockchain technology and smart contracts and also machine learning to aid in the reduction of the risks as well as fraud conversant with the diamond as well as precious stone industry. Glitzkoin helps provide an ecosystem which offers a supply chain solution to the tracking and also certification of the diamond down to the exchange (i.e trade of the diamond and other related services). Glitzkoin is bent on presenting the diamond industry with a whole new experience which they are said to make happen by using blockchain.

THE OBJECTIVES AND FUNCTIONALITY OF GLITZKOIN

INTEGRATING THE LATEST BLOCKCHAIN TECHNOLOGY INTO THE DIAMOND INDUSTRY SUPPLY CHAIN: Glitzkoin aims to connect all stakeholders from the mining companies to the retail customers by using blockchain technology which is also aimed at improving the transportation cost, lack of visibilities as well as the inefficiencies witnessed in the paper-based process.
GLOBAL DIAMOND TRACK AND TRACE: Glitzkoin offers a blockchain tracking system for certified diamonds, a detailed record involving the origin and the history of each of the diamonds as well as tracking of the stones through their journey.
DECENTRALISED MARKETPLACE FOR TRADE IN DIAMONDS: Glitzkoin facilitates a reduction in the time required for transaction settlements, allows anybody to buy as well as sell diamonds and also facilitates other services like insurance and shipping of the diamond.

CONCLUSION

Glitzkoin is a platform which is bringing new revolution to diamond industry. Their major agenda is to provide a new, reliable and transparent way of trading diamonds which is built on trust between the buyer and the seller of the diamond. The platform also offers certain benefits which will be vital in helping the growth of the diamond industry at large.

TOKEN SALE AND TOKEN DISTRIBUTION