The diamond industry has a long history, but continues to gain popularity to this day. But all the processes from production to delivery to the final consumer require significant modernization, as they are time-consuming and are accompanied by high costs for paperwork, diamond certification, logistics, etc.
Outdated mechanisms make the sale of diamond products inefficient and expensive, which, accordingly, affects the price. As a result, diamond production takes more time and money, consumers have to pay a higher price, and companies have less income.
The creators of Glitzkoin carefully studied the existing shortcomings of the diamond industry and found a solution that will allow to change the industry. The company uses blockchain technologies that make the process of production, licensing and delivery of diamonds transparent, economical, and much more efficient.
What problems does Glitzkoin solve?
The Glitzkoin platform integrates innovations into the diamond industry, including blockchain, smart contracts and machine learning, to reduce the risks of fraud associated with forgery and diamond products for consumers, retailers, insurers and banking organizations.
Thanks to blockchain and smart contracts, participants of the Glitzkoin ecosystem will be able to fully monitor the entire process of production, licensing and supply of diamond products to ensure its quality. Certification is carried out by world-renowned experts from the Gemological Institute of America.
The benefits of the project
- The ability to track the production and supply of diamond products at all stages;
- Manufacturers will significantly reduce costs in the supply and certification of diamond products;
- For owners of diamonds will have access to the marketplace worldwide, where they will be able to sell them at the market price without middlemen;
- All data, including certificates, documentation, registration and transportation information is transparent and reliable thanks to the blockchain.
GLT tokens are created on the Stellar blockchain, which allows to conduct transactions with high speed and low fees. Tokens play the role of the main means of payment within the ecosystem Glitzkoin and intended to pay for the platform services, certification, purchase and sale of diamonds, and much more.
ICO takes place in the present moment and will continue until 25 June 2018 or until they reach hardcap 41.8 million $. Project successfully achieved softcap, grossing 17.8 $ million Price token 1 GLT = 0,2 USD. Purchase of available for BTC, ETH, and XLM. The minimum investment amount is only 100 $. To buy using Fiat Bank transfer, you will have to invest at least 10,000 $.
My thoughts and conclusions
Glitzkoin looks like a promising project that will change the diamond industry and modernize production processes. The platform provides a trading platform for the exchange of diamonds directly between suppliers and consumers, so that consumers will get lower prices, and retailers will reduce costs by eliminating intermediaries. A team of experts, who have extensive experience in the diamond industry and blockchain industry, is working on the project. Given the demand for the diamond industry, the project will be very popular.
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