The idea of Glitzkoin is to bring transparency and simplicity to the diamond industry. It integrates the conventional diamond industry with the latest decentralized internet value system. Evaluations and assessments will no longer be done by guesses and hunches. GLITZKOIN seeks to transform the diamond industry by diminishing barriers, increasing coordination, and instilling trust in cross-border transactions for the diamond industry. High utility blockchain that, provides a win-win trading platform for both diamond buyers and sellers. Detailed records are maintained in a tamper proof environment.
Blockchain technology and Crypto currencies are transforming the world and the Diamond industry is no exception. Despite some nascent efforts, no blockchain ecosystem focused on the diamond industry has been designed that encompasses the various issues faced by the industry. The need for transparency, visibility and objectivity in the diamond industry was felt many decades ago. The need for person to person contact when processing a diamond purchase or sale, limited the size of the market. GLITZKOIN focuses on integrating the best features of the conventional diamond industry with, the utility and functionality of the latest blockchain technology.