The developments that we are beginning to see thanks to the implementation of blockchain technology are covering all kind of areas. Even the gemstone trade is benefiting from blockchain, and a praiseworthy example is the GLITZKOIN proposal.
We can start by saying that GLITZKOIN is a global startup that uses blockchain, intelligent contracts and machine learning to help reduce risk and fraud for banks, insurers and open markets in the diamond and gemstone industry in general.
With its platform they provide users with a complete ecosystem for the diamond and gemstone industry from the supply chain to the monitoring and certification of diamonds, and also a meeting point for the diamond trade and related services. With this they also seek to change the landscape of the diamond industry with everything focused on transparency and security, with one diamond at a time.
GLITZKOIN will position itself as a leader in its industry sector by bringing together professionals from the diamond industry and associating them with technical experts in blockchain, influencing what will be the basis for the future of the diamond supply chain thanks to this conjunction.
With the GLITZKOIN platform online diamond buyers from all over the world will contact directly with diamond sellers, without intermediaries and at more reasonable prices than in the more conventional market. Only certified diamonds from well-known laboratories in the diamond testing area will be placed on sale.
Blockchain plays a fundamental role since the complete information of each diamond will be loaded into the block chain of the platform, forming a permanent and secure record. This safe and verifiable environment for the online purchase of diamonds had never before been available in the market.
In practical terms, an Intelligent Contract will be generated for each diamond, which can be exchanged. By allowing intelligent diamond contracts to be negotiated, the buyer is entitled to request physical possession of the precious stone at any time.
Security, privacy and data integrity are at the core of the GLITZKOIN diamond block chain at all times.
Purchases on the platform will be made with the native GLITZKOIN cryptocurrency, which is the currency of the ecosystem transactions.
The diamond trade has worked for decades with the help of multiple intermediaries in the supply chain, which has led to a constant commission of brokerage, affecting the final price of the seller. With GLITZKOIN that is over, ensuring in addition to transparency, a viable price that will significantly improve the price of the diamond.
GLITZKOIN provides a reliable online payment environment, and procures services such as insurance and shipping.
The GLITZKOIN project has good bases to positively impact its business sector, which will help raise the quality standards of the diamond industry.