With the completion of the Glitzkoin ICO, CEO Navneet Goenka is now engaged in the phase of the project that, he has a deep passion for. DiaEx the brainchild of the second generation diamond veteran is a blockchain based, diamond trading platform. Stalwarts in the diamond community are super excited, about the whole concept of a diamond blockchain. The development team is on target, trial runs could be made as early as September or October 2018.
The fact is that the DiaEx diamond trading platform is a game changer for diamond buyers and sellers across the board, all sizes and at any location in the world. Certified diamonds with a certificate issued from any of the listed testing labs, could be listed on the Glitzkoin DiaEx exchange.
The certificate translates, the features of the diamond into objective and comparable information. What this implies is that, the buyer of a listed diamond need not be a trained diamond professional. And for seasoned diamond buyers, the Glitzkoin diamond exchange, would provide complete information for tens of thousands of diamonds.
While the convenient access to thousands of diamonds, is itself a big reason for diamond buyers and sellers to patronize the DiaEx exchange, the Glitzkoin project has much more to offer.
The challenge of confirming to ridiculously cumbersome and time consuming bank formalities, has always plagued the industry. In Navneet Goenka’s words ‘… the industry was being suspected of everything and subjected to all types of checks and verifications… the fact that, diamonds are big dollar items was being ignored…’ Transactions conducted on the DiaEx diamond exchange, will be settled using the GTN (Glitzkoin) token. No more bank hassles and no more, struggling with the logistics of multiple currencies.
Glitzkoin happens to be the first diamond blockchain that incorporates, comprehensive trading features and is promoted by a diamond veteran. No surprise therefore, why every element that was included in the project plan, aims at delivering direct benefits to the 90 billion dollar diamond industry.
Here is a brief summary of what, the DiaEx exchange aims to deliver to the industry. To begin with, restricting listings to certified diamonds, eliminates the possibility of fake diamonds being traded. The CEO has clearly stated that, there is no room for fake or synthetic diamonds on the Glitzkoin blockchain. Allowing buyers to directly access diamonds listed on the exchange, removes the need for middlemen and brokers. This adds transparency to every transaction and also, prevents the possibility of the diamond price being inflated. The crypto currency is an added bonus that, plays an extremely critical role on the DiaEx diamond trading platform.
So does the DiaEx development signal, the end of the crypto community participation in the Glitzkoin mission. The answer is surely ‘NO’, the use of the GTN token to settle payments on the platform, will generate significant demand for the token on crypto exchanges. Crypto enthusiasts are well aware that, the higher the demand the higher the possibility of price appreciation for the token. At the end of the day, it is going to be a win-win scenario for all stakeholders.