Glitzkoin, No Competition But Not Taking It Easy
The Glitzkoin project is more than just a diamond blockchain. Glitzkoin marks the first concerted effort by a diamond veteran to improve, efficiency and market scope for the multibillion dollar industry. The conservative industry has generally resisted change and lacks interest in tech based solutions. The diamond industry is home to some of the most inefficient business processes. Business experts agree that the industry despite its $90 billion trade volume, has still to reach its full potential. We might mention here that, Glitzkoin happens to be the first diamond blockchain to be promoted by an industry insider.
- Promoted by second generation diamond veteran, Navneet Goenka.
- Makes a direct connect to the $90 billion diamond industry.
- Focused on improving efficiency and market scope for the industry.
- Leveraging the powerful features of blockchain technology and digital currency.
- Includes a comprehensive blockchain based trading platform - DiaEx.
- The GTN token is the mode of payment on the DiaEx diamond exchange.
- Relieves traders from cumbersome and expensive, bank procedures.
- Listings are limited to natural and certified diamonds – no synthetics.
- The platform facilitates both, B2B and B2C trade in the precious stone.
- Location, currencies and size of buyers and sellers is irrelevant.
- Traders interact directly with the platform, no middlemen and no brokers.
- In the absence of middlemen there is no scope for price cloaking and inflation.
Looking at the comprehensive nature of the Glitzkoin project and the fact that, it has evolved from within the industry – it is fair to say that, the project holds great promise for diamond businesses. While it is true that the project has no real competition, the Glitzkoin team remains critically focused on the task at hand. The idea after all is to deliver a positive impact on the industry.
Glitzkoin So Far:
- The Glitzkoin ICO began in March 2018 and was successfully completed in June 2018. The GTN token was priced in the $0.15 to $0.20 range during the ICO.
- The development work for the DPE (Diamond Price Estimator) and the DiaEx (Diamond Exchange) applications commenced, immediately after the ICO was completed.
- The GTN token began trading on the Stellarport exchange in July 2018. The crypto community, continued its strong support for the project.
- The trading price range from July 2018 to October 2018, was in the $0.18 to $0.23 range. Impressive because, most cryptos launched during that time, recorded heavy losses within weeks of being listed on the exchange.
- September 2018 saw the launch of the much awaited Diamond Price Estimator (DPE), an advanced tool that could estimate the market price of a diamond, with an accuracy of +/- 20%.
- The overall crypto market in November 2018 was marked by falling prices – even giants like ETH and BTC could not escape the trend. As prices slipped, the GTN token seemed to have gained favor with seasoned crypto traders. This could explain the 50% jump in the price of the token as compared to, its ICO value ($0.20). The token touched the $0.30 mark and comfortably maintained that level.
- December 2018 did see some recovery in crypto prices but, BTC was still at its lowest price in 12 months. Interest in Glitzkoin and the GTN token remained high, the token continued to maintain its $0.30 price point.
As the project moves forward along its comprehensive plan, Glitzkoin gets closer to achieving its goal of bringing positive change to the diamond industry. Crypto enthusiasts continue to trade the GTN token as they realize that, the DiaEx diamond trading platform, will increase demand for the token. Here is what is in store for 2019 and thereafter.
- The DiaEx diamond exchange designed to streamline and improve, the supply chain for diamonds is scheduled to launch in Q1 – 2019. The application would be equipped with a simplified process to handle the purchase of GTN tokens.
- An estimated $600 million of certified (natural) diamonds have been processed, the first batch to be uploaded on the DiaEx exchange.
- While the GTN is currently trading on the Stellarport (Stellar based) exchange, negotiations are on to have the token listed on other exchanges.
- Plans to partner with other businesses to accept the GTN token as a mode of payment are underway. A pilot run for this plan is likely to unfold in 2019. Crypto enthusiasts would welcome yet another channel of demand for the GTN token.
- The launch of the DiaEx exchange, would mark the beginning of global campaigns aimed at promoting the trading platform.
The Glitzkoin project is on a mission to boost performance and sales for the diamond industry. The process to find areas that need improvement and develop solutions, would be an ongoing one. The project leads the new generation of blockchain applications that, are directly connected to real world business.
[Track And Trade GTN On Stellarport] [How To Buy GTN Tokens] [Glitzkoin On Instagram]