Blockchain technology Blockchain and Crypto currencies change the world and the industry Diamond is no exception. Despite several new-born efforts, no blockchain ecosystem that focuses on the diamond industry has been designed that covers a variety of problems faced by the industry.
The need for transparency, visibility and objectivity in the diamond industry was felt several decades ago. The need for person-to-person contact when processing diamond purchases or sales limits the size of the market. GLITZKOIN focuses on integrating the best features of the conventional diamond industry with the latest blockchain, utility and functionality technologies.
Diamond is one of Africa's major natural resources, and especially Africa. It is estimated that rough diamonds worth US $ 15 billion are produced annually, of which approximately US $ 8.5 billion comes from Africa (about 65%). The diamond industry employs about ten million people worldwide, either directly or indirectly, across the various spectrum roles from mining to retail. Global diamond jewelry sales have continued to grow, tripling in the last 25 years, and currently worth more than $ 79 billion annually.
The supply chain of diamond jewelry (known as diamond pipe) is the process that brings diamonds from the earth to the consumer. It has several different stages:
This document outlines GLITZKOIN's vision for the diamond industry. GLITZKOIN seeks to build a blockchain-based open ecosystem for the diamond industry where all diamond trading can be done and coordinated.
GLITZKOIN is a global startup that uses the latest technology, including blockchain, smart contracting, and machine learning to help reduce risk and fraud for banks, insurance companies and open markets in the gem and precious stone industry. We provide a full ecosystem for the diamond industry from supply chain solutions, to track & certify diamonds and ultimately a decentralized exchange for diamond trading and related services.
We incorporate the latest blockchain technology into the diamond industry supply chain. This opens up a new platform to conduct global diamond trading. In addition to reducing transaction-related costs, GLITZKOIN eliminates inefficiencies inherent in paper-based transaction processing. A set of advanced functions is implemented to provide extremely complex and detailed diamond tracking and tracking capabilities. The goal is to decentralize the diamond market, this will greatly open access for buyers and sellers of diamonds. Diamond trading does require additional additional services such as shipping, finance and insurance. This service will be provided by a separate service provider.
There is no doubt that the implementation of GLITZKOIN, will increase the market reach of the diamond industry. Increased product visibility and acceptance of crypto currency, will allow diamond dealers at all levels to increase their market share. At the same time, the transparency of the whole process and the authentication of diamonds, will instill confidence in the professional diamond buyers and the first time. The absence of intermediaries and decreased transportation and other related costs, will enable highly competitive pricing.
The minimum purchase amount is 100 USD if payment is made through one of these Crypto Currencies - Bitcoin (BTC), Ether (ETH) and Stellar (XLM). For payments made via Bank Transfer, the minimum purchase amount is 10,000 USD.
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