GLITZKOIN offers a one-of-a-kind blockchain based diamond trading platform delivering a win-win scenario for both diamond buyers and sellers. While cryptocurrency has already revolutionized a wide range of industries and sectors, its potential to improve diamond trade has not been fully understood – this was until now. GLITZKOIN has decided to take a leap and bring the power of decentralization to overcome the shortcomings in this industry.
The token sale of GLITZKOIN is now live and has been receiving a steady response from both, diamond industry veterans and the crypto world.
The first phase of the token sale has now been completed and the second phase is almost nearing its end. The GLITZKOIN token is available at 0.14 USD each in this phase. The pricing for the third phase would be 0.16 USD. The total supply of tokens through the ICO is 245 million accounting for a total of 41,800,000 USD.
Backed by the GLITZKOIN token, the platform is geared to make diamond trading more effective and transparent. It will improve the cost of transportation, lack of visibility and inefficiencies with paper-based processes while connecting, all stakeholders from mining companies to retail customers. The platform will use blockchain based tracking for certified diamonds and maintain a record of attributes, origin, and history of each diamond. Authentication and tracking processes will be used to maintain security and avoid risks related to theft. Diamonds listed on the blockchain can be tracked through their journey.
The decentralization achieved through blockchain technology will allow buyers and sellers from any part of the globe, to interact with each other. No middlemen, no price tag loading with multiple commissions and brokerage and no price cloaking. To be implemented on the same platform in a phased manner are ancillary services like, shipping and insurance. These functions will be fulfilled through third party service providers.
Combining the best features of the conventional diamond industry with the utility and functionality of the latest blockchain technology, the GLITZKOIN project is poised to build a diamond trading platform that is configured to revolutionize the industry.
Following a recent press conference in Malaysia, we saw YTL the Malaysian business conglomerate, reveal its intention to allow the GLITZKOIN cryptocurrency as a mode of payment in two of its high profile shopping malls – StarHill Gallery and Lot10. Close on the heels of this disclosure, came the decision of Malaysia’s leading fine jewelry provider CERES. GLITZKOIN cryptocurrency would be accepted on par with other payment options at CERES showrooms.
GLITZKOIN is geared to increase the market reach of the diamond industry through, increased visibility of products and the elimination of middlemen and brokers.
More information about the platform and the ongoing ICO can be found at glitzkoin.com.