GLITZKOIN THE INTEGRATION OF BLOCKCHAIN TECHNOLOGY INTO DIAMOND INDUSTRY SUPPLY CHAIN
INTRODUCTION
Diamond is a solid form of carbon with diamond cubic crystal structure. It is a major natural resources in Africa. The process of fetching Diamond from the soil is referred to as Diamond Jewellery supply or Diamond pipeline, it passes through several stage which includes;Exploration,Minning,sorting cutting,polishing and lastly retailing.
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Glitzkoin seek to offer a blockchain designed ecosystem with the aim of creating a platform where deals or buying and selling of diamonds can effectively takes place.
Glitzkoin is a universal business venture that plans to employ technology that are uprising such as Bitcoin,Smart contract etc. Which aims to effect and bring to the bearest minimum the potential negative effect of an event and fraudulent activities for banks,insurers etc.
Glitzkoin ecosystem makes attainable sophisticated functions embedded therein,intended for Diamond industry,it ranges from a solution to chain supply,tracking capacity and certification of diamond. Glitzkoin aims at bringing down transaction fee to a bearest minimum as well as abolishing inadequacies that are inbuilt or present when transaction is been carried out via written documentation.
Glitzkoin invention will bring about growth and advancement and influence the diamond Industry.
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BASIC ROLES AND GOALS OF GLITZKOIN
A decentralised Exchange for commerce,and trade that is buying and selling of Diamond and associated services with the exclusion of subsidiary services such as Insurance,Finance and Shipping. Although they will be included on the Glitzkoin platform however services will be carried out by entirely by a third party service provider and no required payment will be levied for such services. It aims at building trustworthiness among persons that trades diamond.
Glitzkoin is designed on blockchain technology for effective integration into Diamond industry supply chain. It is designed to enhance transportation cost,deficiency in apparency and ineffectiveness associated with paper work or written document procedures. Also all custodians from the minning company to retail clients are interconnected.
On the Gliztkoin platform historical details of approved Diamonds are found for instance details and information regards origin or the source,it is also designed to hinder the possibility of theft,at the same time confirming its genuineness,and the ability to keep track of the certified diamond and its equivalent value through its journey. Duration for trading transaction is also reduced.
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UNIQUE FEATURES OF GLITZKOIN
■Glitzkoin has a unique feature and function known as "shared investment " when a dimond is put up for trade,the holder of diamond can decide to trade as a single smart contract or as a multiple-smart contract,enabling retailers/consumers to invest in the Diamond that is considered highly valuable.
■Glitzkoin platform offers a universal digital ledger that have the capability to track and keep safe all assets that have value all through their duration. Details of each assets are described and stored for example,its chracteristics,history and ownership.
■Glitzkoin platform integrate all stakeholders in the diamond industry,the minning companies,diamond polishers,certificate authorities,retaile sellers and consumer,in order to make easy,effective transaction with the emphasis on transperency and security at forefront. Data and trade are concealed and kept coded,hidden or difficult to understand
■Glitzkoin employ steller blockchain for its solution with the inclusion of fundamental or basic distributed ledger, its admits smart contract faculty in a secured,efficient way at a reduced transaction cost.
TOKENIZATION
On the Glitzkoin platform,Bitcoin,Litecoin,Ripple,and stellar are used as a medium of payment and exchange for GLITZKOIN token.
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For more details please visit the links below;
Website: https://www.glitzkoin.com/
Facebook:https://www.facebook.com/GlitzKoin-193241214767377/
Medium: https://medium.com/glitzkoin
Telegram:https://t.me/joinchat/H2lmsxLwenY3S8Fp_CFQBA
Bitcointalk username: spicytee
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1579677;sa=account
Date: 24/05
You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.