Glitzkoin – blockchain ecosystem of diamond industry

Hi everyone, as we all see ICO projects cover different fields of our life. Around 2000 ICO projects have been published for the last 5 months. They have raised about 5 billion dollars. There are projects concerning software, entertainment, artificial intelligence, education, sport, tourism and many others. Today I introduce you the project that involves the field relatively rare covered by blockchain technology: extractive industry project.

What is Glitzkoin?

Glitzkoin is a blockchain platform for diamond global trading, linking the miners, sellers, polishers, end-users and other participants and having tracking function of certified diamonds. At the same time, it is a decentralized exchange platform providing people with the opportunity to invest in diamonds, shares of high-value stones or shares in a basket of diamonds.

Benefits of the project:

  • Lower expenses for transactions
  • Facilitates documentation and other trading steps arrangement
  • Detailed tracking and information on the origin and history of each diamond
  • Integration of financing, insurance, transportation and other services
  • Direct contact and absence of third parties
  • Confidentiality options (Zk-snarks and bulletproofs technology)
  • Public and private blockchains
  • Comfort. Thanks to user-friendly interface users don’t need to have technical skills
  • Identity and Safety. Based on the federated byzantine agreement system the supply chain is completely secure
  • The wide range of customers. Any user can buy and sell diamonds
  • Data transparency
  • Independent applications. Third parties are able to build customized supply chain applications with data confidentiality

The features of decentralized exchange:

  • Binding the global exchange and diamond industry
  • Artificial intelligence algorithms analyze the price and value of diamonds.
  • No trust needed between parties. Glitzkoin with Stellar blockchain provides transparency.
  • There are 3 main aspects of diamond assessed: the gemological perfection represented by gem composite, the rarity of a diamond is indicated by the parallel composite and directions for the diamond industry are given by indices composite.
  • The machine-learning algorithms rank the diamond and calculate its price operating with its data and composites.
  • Besides general distributed ledger Stellar blockchain uses the smart-contract capacity safely during multiple deals and has low transaction fees
  • The parties enter into an agreement which is to be verified by complicated algorithms
  • This exchange unlocks the diamond as an alternative for investments and opens the opportunities for stakeholders
  • There is a shared ownership option. The smart-contract for a very expensive stone can be owned by several buyers. - - - The concept of shared ownership is impossible in case of the transaction with a physical delivery call.
  • The retailer can issue a smart-contract as a purchase offer in order to liquidate the asset. As soon as the offer implements, the diamonds are transported to a handler who evaluates the diamonds according to the international agencies standards as GIA, IGI, HRD and EGL certifications.

Glitzkoin tokens and ICO

Glitzkoin is a utility token that is used for simplifying the transactions inside of platform. It is not a tool for diamond tokenization.
⇨ Total Cap: 999 million
⇨ ICO start: ongoing
⇨ ICO end: June 25, 2018
⇨ Token price: $ 0.2 USD
⇨ Minimum investment: 100 USD
⇨ Payment accepted: BTC, ETH, XLM
⇨ Bank Transfer is accepted in case of minimum 10,000 USD investment

Official Glitzkoin Links:

Prepared by Stavri (Bitcointalk Profile) :
https://bitcointalk.org/index.php?action=profile;u=955201
ETH Wallet: 0xf263f99B27E37e97720b9DdaF525B565E18A89c2

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