Commenting on the completion of the GLITZKOIN ICO, diamond veteran and CEO Navneet Goenka thanked the participants for their enthusiastic support. Unlike most ICOs that draw interest from the select group of crypto world enthusiasts, GLITZKOIN got a hefty dose of support from the 90 billion dollar diamond industry.
Leveraging the fact that, it happens to be the first diamond blockchain project to be backed by a diamond veteran, GLITZKOIN has worked on a strategic plan to improve efficiency and market scope in the multibillion dollar industry.
The decentralized diamond blockchain to be deployed as part of the project, will allow diamond sellers, both big and small to list their certified diamonds from any point on the globe. Limiting listings to certified diamonds, would eliminate one of the biggest challenges faced by the diamond industry. Although not very common, unethical traders are known to falsely pass artificial stones as ‘authentic’ diamonds.
Once implemented, the GLITZKOIN diamond blockchain will allow diamond buyers to directly access one of the largest collection of certified diamonds without, passing through a chain of brokers and middlemen. Conventional diamond trade is dominated by a chain of brokers, these middlemen inflate the price of the precious stone without adding any value to the transaction.
The fact that, every diamond listed on the GLITZKOIN blockchain would be backed by an authenticity certificate, makes the trading platform safe for both seasoned and debutant buyers. This combined with the fact that, price tags would not be inflated with brokerage fees and commissions, would help widen the market for diamonds.
Navneet Goenka mentioned that, the successful completion of the ICO signals the next phase of the project. Procedures for the issue of tokens to more than 14,000 participants would soon be completed. Requirements for listing the GLITZKOIN token on popular crypto exchanges were being readied on priority.
The diamond community that had actively supported this project, would now be keen to get a first look at the blockchain based trading platform, the CEO seemed confident of meeting their expectations. With areas for improving efficiency in the industry being clearly defined and a highly skilled technical team onboard, first phase testing would be no later than the early part of September 2018.
The CEO had something interesting to say about the impact that GLITZKOIN had made on the crypto world, ‘…with the crypto community gradually focusing on projects that are specific to an industry, GLITZKOIN will be viewed as a blueprint for future industry specific blockchain based solutions’.
Company Name: Glitzkoin
Contact Person: Navneet Goenka
Email: Send Email
Phone: +60 104248192
Address:Tartu road 83
City: 10115 Tallinn
State: Harju County