Diamonds are one of the world’s major natural resources. An estimated US$15 billion worth of diamonds are produced per year. They are used to create jewelries and to collect them. However, far from everyone takes into account that the process of diamond delivery is quite long and difficult. It has several different stages:
- exploration;
- mining;
- sorting;
- cutting & polishing;
- delivery;
- retailing.
Each of these stages is away from the public eye, which is why sometimes we can’t be sure of the quality or origin of a specific jewelry. You a priori can’t track the production of a precious stone, so there’s a main problem – how to get guarantees that you’re paying for a real diamond and not for a good fake?
Appearance of new technologies, in particular, blockchain, can be the key to solution of all issues between the manufacturers and consumers in the field of diamonds.
Unique platform GLITZKOIN – is first-of its-kind project, which will be able to take a diamond market to a new level, while helping not only miners-manufacturers of precious stones, but also their end-users.
Goal of the project
Main goal of GLITZKOIN creation is a formation of effective system, which can control the diamond trading and track the mining, transportation, certification and marketing history.
About the project
GLITZKOIN will use Blockchain technology, which allows to track the execution of all operations in the chain of diamond deliveries, in order to change the current situation. Experienced team of professionals from diamond industry and experts related to Blockchain technology and the world of cryptocurrency are working on the creation of this project.
A lot of parties are interested in creation of this platform, namely:
- mining companies;
- organization of diamond cutting and polishing;
- certification centers;
- retailers;
- end-users.
By attracting all these participants to GLITZKOIN, developers provide easiness and effectiveness of the execution of operations related to the diamonds. Besides, this platform guarantees the maximum level of fraud protection, which is necessary to the diamond industry.
One of the most important features of GLITZKOIN is a creation of global exchange that eliminates the disparity between the traditional diamond industry and modern financial markets. In other words, people will use diamonds as they use any other type of assets due to this platform. And the consumer can use not only ordinary, but also collectible diamonds for trading and he won’t need comprehensive knowledge of this field, because his property will be equivalent to the virtual currency. Price of diamonds will be determined by the unique system of machine learning algorithms, which will consider the value of diamonds, their rarity, processing quality and certification.
If required, any trader can order a delivery of his property to his house.
Besides, the information about the every diamond’s origin, its sale and transportation will be recorded in Blockchain hereby excluding the possibility of buying fakes.
One more feature of GLITZKOIN is a decentralization of marketplace, which allows to ease the process of diamond trading and to use the additional services, such as insurance and financing.
Dates and details of ICO
Pre-sale of coins was in the first quarter of 2018. The public sale of tokens is taking place now. Price of 1 GLT is US$0,16 now. After US$17,8 million are reached, the price of coins can increase up to US$0,2.
Tokens BTC, ETH, XLM and bank transfers are accepted as payment.
Soft Cap of the project of US$4,2 million was reached. Hard Cap of GLITZKOIN is US$41,8 million.
Investment
GLITZKOIN is worth investors’ attention for several reasons:
- first Blockchain project in the field of diamond industry;
- takes the industry to a new level;
- allows to use the diamonds as the assets for trading;
- creates a transparent system to verify the authenticity of precious stones;
- price of coins constantly raises;
- Navneet Goenka is working on the creation, he has 20 years of experience in the field of diamond industry.
Conclusion
The idea of creation of diamond blockchain is new and quite attractive. It’s most notably related to the fact that diamonds can be used as the assets, which increases their popularity and, therefore, their price. This will have a positive impact on mining industry, which will start to get more orders and will receive more funding. This will also have a positive influence on consumers, because they will be able to verify the authenticity of precious stone at any time and to learn the history of its mining, processing and transportation.
The site and all the documentation can be found at the links below:
Site | Whitepaper | Telegram | ANN Thread
Links to my accounts:
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