LET'S TALK GLITZKOIN!

nnedaddy1 (38)in #blockchain • 6 years ago

Diamond is one of the world's major natural resources. It is estimated that the diamond industry employs approximately 10 million people the globe over.

This industry has grown exponentially in the last couple of years and still growing .
The benefit of the industry to the socioeconomic development of any society cannot be overemphasized.

However, the industry is plagued with challenges that are impeding its continuous growth.

Location barriers

Management inefficiency.
High cost of Transaction.
Trust based issues
Lack of sophisticated tracking systems.
Fraud etc

For the continuous expansion of the diamond Industry , the afore mentioned areas must be improved on.

This is where glitzkoin comes in.

Glitzkoin is a global start up that uses the best of emerging technology including block chain, smart contracts and machine learning to assist in the reduction of risk and fraud for banks , insurers and open market place in the diamond industry.

WHY GLITZKOIN?

Glitzkoin would Integrate the blockchain technology into the supply chain of the diamond industry in order to improve on the diamond industry management efficiency.

Glitzkoin hopes to provide a global platform that will connect traders, investors and every stakeholder in the industry.

It would make available an effective trace and track system. This system will make it possible for diamond location at any point in time to to be know by parties involved.
This will go a long way in building trust among traders and investors.

Provide a marketplace where traders and investors will interact and transact businesses without having to travel long distance to meet with each other as was the case in the present diamond industry model.

Glitzkoin plans introducing an ancillary services such as insurance and shipping .

Glitxkoin would make it possible for retailers to buy diamond in fractions through its "shared investment option"

WHAT ARE THE BENEFITS OF THE GLITZKOIN?

Transactions would be processed faster and at an even reduced cost.

Buyers and sellers will be able to access the diamond market seamlessly.

Trust is built among traders and investors.

Competitive pricing.

The monopolistic power of the diamond dealers are eliminated.

Investors and traders will be able to know the exact location of diamond at any given time.

Improved management efficiency.

Geographical barrier is cut off.

Traders will be able to buy diamond in fractions.

HOW DOES IT WORK?

When a seller indicates Interest for his / her diamond to be listed on the glitzkoin platform.

Glitzkoin will send the diamond to its testing lab....this is to ensure the authenticity of otherwise of the diamond.

The test lab is expected to certify the diamond after confirming its authenticity.

The glitzkoin will then list the diamond on the blockchain.
The diamond price , specifications, and physical characteristics as seen on the certificate will also be listed on the blockchain against the diamond.

As soon as a buyer indicates interest on the diamond smart contract and price is negotiated.
The diamond will be sent as soon as payment is made.

The diamond smart contract is then delisted on blockchain once the seller can confirm the receipt of payment.

The Glitzkoin ecosystem comprises of :

Glitzkoin wallet.

Glitzkoin Merit Engine.

Glitzkoin API.

Information on token sale

Softcap. = $10 Million

Hardcap= $40 Million

Useful links

Website http://www.glitzkoin.com/

Whitepaper. https://www.glitzkoin.com/dist/img/pdf/Glitzkoin-Brochure.pdf