The GLITZCOIN aim to use the blockchain technology, smart contract machine learning to assist in the reduction of risk and fraud that is rampart in the diamond industry. The GLITZCOIN will provide a full ecosystem for the diamond industry from a supply chain solution to tracking and certification of diamonds and finally a decentralized exchange for the trade of diamonds and related services.
Diamond as one of the precious face many problems in its trading and retailing. Diamond industry needs to have a physical contact before diamond can be bought or sold. Diamond selling and buying is basically based on guesswork, there is no way to really evaluate the real value of diamond and there are a lot of risk in trading of diamond. It is said that you have to evaluate a diamond seller before evaluating his diamond, this means there are limitations to who and who can buy and sell diamond.
THE GLITZCOIN OBJECTIVE AND FUNCTIONALITY
The GLITZCOIN aim to create a global trade platform using the blockchain technology to improve the cost of transaction, lack of visibility and inefficiencies with paper-based processes. With the platform there will be a block chain based tracking for certified diamonds, a record of attributes, origin and history of each diamond, also there will be theft prevention by way of authenticating and tracking of diamond, all these with the use of the global diamond track and trace feature on the GLITZCOIN platform.
Decentralized Market Place for trade in diamonds
A decentralized marketplace for diamond will allow anyone to be able to buy or sell diamond. It will also facilitate ancillary services like shipping and insurance for diamonds fulfilled by third party providers.
The GLITZKOIN ecosystem is a collection of decoupled services which run in tandem to provide a seamless experience for diamond traders, buyers, seller and other stakeholders. The GLITZKOIN is a proud contributor of the stellar community, committed to advancing open source collaboration and working alongside the brightest minds in the blockchain space. With this decentralized exchange, traders can have full confidence in buying and selling, even without a prior knowledge of the diamond trading before. This is because the GLITZKOIN create a unique benchmark value, rate and smart contract for every stone. With this decentralized exchange, traders can have full confidence in buying and selling, even without a prior knowledge of the diamond trading before. This is because the GLITZKOIN create a unique benchmark value, rate and smart contract for every stone.
Traders can have full confidence in buying and selling, even without prior knowledge of diamond trading. Thanks to the decentralized nature of the exchange, our machine learning algorithm, and blockchain technology that rates diamond’s asking price, the value of any diamond listed on the Exchange is completely transparent; liquid because it creates a two sided market by enhancing both the supply and demand and standardized because GLITZKOIN creates a unique benchmark value, rate and smartcontract for every stone.
YOU CAN READ MORE ABOUT THE PROJECT
whitepaper
website
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