The Superior Diamond Blockchain. GlitzKoin ICO rating – not rated.
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Ended ICO : 16/03/18 – 25/06/18
About GlitzKoin ICO (token sale)
GLITZKOIN seeks to build a blockchain based open ecosystem for the diamond industry where all the trade in diamonds can be conducted and coordinated.
GLITZKOIN is a global startup that uses the best of emerging technology including blockchain, smart contracts and machine learning to assist in the reduction of risk and fraud for banks, insurers and open marketplaces in the diamond and precious stone industry. We provide a full ecosystem for the diamond industry from a supply chain solution, to tracking & certification of diamonds and finally a decentralized exchange for the trade of diamonds and related services.
GLITZKOIN UTILITY FOR THE DIAMOND INDUSTRY
We incorporate the latest blockchain technology into the supply chain of the diamond industry. This opens up a new platform to conduct global trade in diamonds. Besides reducing the costs related to a transaction, GLITZKOIN eliminates the inefficiencies that are inherent to paper based transaction processing. A set of advanced functions are implemented to provide a very intricate and detailed, diamond tracing and tracking capability. The objective is to decentralize the market place for diamonds, this will vastly open up access for buyers and sellers of diamonds. The diamond trade does require additional ancillary services like shipping, finance and insurance. These services will be provided by separate service providers. The GLITZKOIN Project will only integrate them in the platform and not be charging any commission or brokerage for such third party services.
MARKET TRENDS AND POTENTIAL
There is no doubt that the implementation of GLITZKOIN, will increase the market reach of the diamond industry. The increased visibility of products and the acceptance of a crypto currency, will make it possible for diamond dealers at all levels to increase their market share. At the same time, the transparency of the whole process and the authentication of the diamonds, will instill confidence in both professional and first time diamond buyers. The absence of middlemen and a lowering of transportation and other related costs, will allow for highly competitive pricing.
GLITZKOIN OBJECTIVES AND FUNCTIONALITY
Integrating the latest blockchain technology into the diamond industry supply chain
– A global trade platform using blockchain technology aimed at improving the cost of transportation, lack of visibility and inefficiencies with paper-based processes
– Connecting all stake holders from Mining companies to Retail customers
Global Diamond Track and Trace
– Block chain based tracking for certified diamonds
– A record of attributes, origin and history of each diamond
– Theft prevention by authenticating and tracking the diamond
– Track stones all through their value added journey
Decentralized Market Place for trade in diamonds
– Facilitate trustless transactions between diamond traders Allowing anyone to buy and sell diamonds
– Facilitate ancillary services like shipping and insurance for diamonds fulfilled by third party providers
– Drastically cut the time required for trade transaction settlements