Glitzkoin: The platform that brings solutions to the problems faced in diamond industry

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Introduction

Diamond is known to be the most stable currency in the market place, and it is a treasure that always appreciate overtime. The diamond industry is known to be one of the most oldest industry, and the first mining company that ever existed in the ancient manuscripts. Diamonds are generally accepted due to it's glittering appearance and it's hard nature. According to statistics, it was reported that only 20% of diamonds are used as jewelries, the rest are used industrially for the purpose of abrasiveness. Diamonds has enjoyed exponential growth over the recent years with an estimate of$75 billion every year. However, the diamond industry is still facing some challenges that seems to slow down the industry. The challenges includes; eye to eye contact for business transactions, lack of transparency and simplicity. Due to this challenges, Glitzkoin has emerged to bring an absolute solutions to the challenges. Now let's talk about Glitzkoin.

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➰What is Glitzkoin all about?

Glitzkoin is a platform that provides solution to the challenges faced in the diamond industry, by developing a diamond exchange platform that is based in a decentralized technology. In this platform, diamond are allowed to be transacted without eye to eye contact. This platform also makes diamond industry more efficient with clear transparency.

➰The glaring problems in the diamond industry

An average man cannot acquire diamond because it is too costly. One carat of diamond worth $10,000

In the diamond industry, another challenge faced is high transaction charges.

Within the diamond industry, there are often no trust between two parties i.e the buyer and the seller.

Transactions are often kept on paper, and this might be manipulated by fraudsters.

➰Glitzkoin solutions to the problems

In order to provide a lasting solution to the challenges in the diamond Industry, Glitzkoin has utilized these three components:

Glitzkoin provides a decentralized exchange

With Glitzkoin decentralized exchange platform, all dealers of the diamond industry are connected for trading. The used of decentralized technology has made it possible for Glitzkoin to create a system that allow people to liquidate and invest in the diamond business just like other financial platforms. Glitzkoin has restored the confidence in buying and selling activities in the diamond industry with the use of decentralized technology.

Glitzkoin trace and track feature

With this feature, Glitzkoin has made it possible to track and secure valuable assets of the users. Glitzkoin acquires the ownership record of a diamond and the defining features to create a tracking space in the blockchain. In order to verify authencity and to detect thives, all stakeholders fingerprints will be collected.

Glitzkoin provides a SupplyChain based on blockchain for the diamond Industry

With Glitzkoin, the privacy of the users is ensured. This is ensured through the use of SupplyChain that is integrated in blockchain.

In conclusion, Glitzkoin has provided everything needed to make the diamond industry reach it's full potential by making it more efficient with simplicity. For more information visit https://www.glitzkoin.com cheers!

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