Diamonds has always been known to be a representation of wealth. Before diving into the significance of this natural substance let’s take a look at the basis of Diamonds.
Earliest diamonds were found in India in 4th century BC. Diamonds is more than just aesthetically beautiful. It portrays love, romance, and commitment. The word Diamond was gotten from the Greek word “adamas” which means “unconquerable”
Diamonds were worn as adornments, and were also used as cutting tools, served as talisman to ward off evil, and were believed to provide protections in battle. Diamonds were also used as medical aid and were thought to cure illness and heal wounds when ingested.
CURRENT INDUSTRY OVERVIEW
In the world we live in today, BlockChain technology and Cryptocurrencies are transforming and changing the world and the transformation in Diamond Industry is no exemption.
Diamonds are one of the world’s major natural resources especially in Africa. An estimated $15 billion worth if rough diamonds are produced on an annual basis which an estimated $8.5 billion are from Africa.
The need for transparency and visibility in the diamond industry was felt long ago. The need fir a person to person deals when processing a diamond, greatly limited the size of the market.
OBJECTIVES OF GLITZKOIN
• Integrating the latest blockchain technology into the diamond industry supply chain:
GlitzKoin focuses on bringing in the best features of diamond industry with the functionality of using the latest blockchain technology. Diamond transactions that are done on a daily basis are hard to track thus making it almost difficult to keep track of the diamonds, origin and other attributes related information.
Blockchain technology has been a turn around to every industry based on it’s decentralized nature and mouth watering features it has to offer. It would be awesome to see it’s collaboration with the diamond industry.
• Global Diamond Track and Trace
Besides reducing the cost of transactions involved in diamond trading, GlitzKoin eradicates the inefficiencies that are involved in paper vase transactions. A well detailed and layed down functions are implemented to keep track and trace of the diamonds. This would also boost up transactions between buyers and sellers of diamonds. It would also prevent theft by authentication and tracking of the diamonds. GlitzKoin would also help to make a routine track to diamonds keeping tabs towards them all through their journey and to what routes in which it passes through.
• Decentralized Market place for trade in diamonds
Transactions between traders of diamonds would be highly based on trust. GlitzKoin would create a trusted transaction between buyers and sellers of diamonds. Allowing anyone to buy and sell diamonds at any given time without hassle and stress. It also facilitate shipping and insurance of diamonds performed by third party providers.
TOKEN SALES
Glitzkoin tokens will be sold at ICO to be purchased by the investors.
A total of 999 Million Glitzkoin tokens will be generated out of which 245 Million tokens will be sold at the ICO.
At the ICO, the tokens can be purchased using Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ripple (XRP) and Stellar (XLM).
The tokens will be sold in 4 tiers costing $0.12, $0.14, $0.16, and $0.20 respectively.
Bonuses ranging from 5%-10% also available based on the amount of purchases and Tier.
To find out more about GlitzKoin please use the useful links below
Website :https://www.glitzkoin.com/
Facebook:https://www.facebook.com/GlitzKoin-193241214767377/
Twitter:https://twitter.com/GlitzkoinToken
Whitepaper:https://www.glitzkoin.com/dist/img/pdf/Glitzkoin-Brochure.pdf
Author’s Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2111187;sa=showPosts
