GLITZKOIN is a highly advanced blockchain based diamond trading platform with a crypto currency to facilitate smooth financial settlements, with a strong focus on transparency and security. The GLITZKOIN diamond platform is the first major overhaul of the diamond industry in decades. Our platform provides for immediate access for new and existing diamond buyers to connect with existing sellers anywhere in the world. The GLITZKOIN project delivers a 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. Backed by our cryptocurrency, we are poised to define a new and superior standard for diamond trading.

What is GlitzKoin?

The team running this project state that this is a highly advanced blockchain project that runs as a diamond trading platform. So far, this sounds pretty cool but when you are dealing with this kind of item then you clearly need to have a number of different layers of security built into it, which is why running it via the blockchain is such a good idea.

The diamond trading industry has been kind of stuck in old-fashioned ways for some time now, so the idea of moving things across to the blockchain is certainly going to be a rather creative approach. As well as creating a trading platform, they are also going to operate their own cryptocurrency that will be used for the transactions. They state that this will make the financial side of things run more smoothly than before, and with it using the blockchain there is also the sense of complete transparency as well.

The Technical Aspect of GlitzKoin

From the technical perspective, then there is nothing too special about what they plan on doing as it is more a case of them using a different trading commodity rather than trying to change the design of the wheel.

However, what is clear is that they will allow buyers and sellers of diamonds to come together on their platform. Not only is all of their information stored on the blockchain, which means it is secure, there is also the option of operating on the platform and using the security of smart contracts to make sure that the trade does indeed go as smoothly as possible.

Also, people trade with one another, so the middleman idea is then eliminated cutting costs in the process. This alone is a big difference, and it should make the trading aspect substantially easier than before.

The way in which it operates is easy to follow. A seller has diamonds available at a set price, the buyer knows what they want to pay, so searches for the seller on the platform. Both parties agree the price with the smart contract being created offering security and complete transparency. The buyer uses the cryptocurrency to complete the transaction with both parties then being quite content with their side of the deal.

In other words, there really is nothing different about this platform.

The Advantages of GlitzKoin

There are several clear advantages for anybody that is looking at using the new platform. First, by removing the middleman, along with using the cryptocurrency, it does remove so many fees and means it is easier to keep the costs down and get a better deal.

Next, the security that surrounds using blockchain technology and smart contracts is also going to be a big advantage when you think about what is being traded on the platform. The complete transparency just allows both parties to know where they stand making it easier to trust one another from the outset.

The Financial Aspect and the ICO

With the financial side of things, along with the ICO, they are able to accept several different cryptocurrencies as way of payment. This includes BTC, ETH and XLM. Also, there is a minimum investment figure that has been set at $100, so you need to take that into consideration if you are planning on getting involved in this project.

They are also going to be releasing a total of 245 million tokens during the ICO which only represents 25% of what has been created for the project. The rest will be split between management, the community and also for marketing purposes with everything being pretty well laid out in their whitepaper.

The price of the tokens is also going to increase as more are sold. Starting off at $0.12 per token, it climbs to $0.20 with a hard cap in place of $41,800,000 if all 245 million tokens are sold during this period. There are also bonuses available which are tied in with the number of tokens you purchase. However, you need to purchase more than $50,000 of tokens to even get their 5% bonus, so this is certainly not going to be something that applies to most people.

Token distribution

One billion GLT will be minted. Of this 24.5 % will be available for purchase. Of the remainder, these will be distributed as follows:

· Market making: 20%

· Community: 20%

· Management: 35.4%

ICO

The ICO began on 16th March 2018 and will continue until 25 June 2018.

Bonuses are available depending on total token holding. Those holding 500,000 and more will receive 10% bonus; 200,000 to 500,000 8% bonus; and 10,000 to 50,000 5% bonus.

· Token: GLT

· Total coins: 1 billion

· Price: 1 GLT = 0.2 USD

· Soft Cap: 4,200,000 USD

· Hard Cap: 41,800,000 USD

· Platform: Stellar

· Payments accepted: BTC, ETH, XLM

· Minimum investment: 100 USD

· Country: Estonia

ICO Ratings

The ICO has been reviewed by ICO rating sites and has received generally good ratings. Here are some of the main ones:

· Track ICO: 4.4/5

· ICO Bench: 4.5/5

· Found ICO: 7.7/10

· ICO Marks: 7.4/10

So some solid ratings there and the project seems to be generally well received.

Token Economy

GLT is an ICO token of the GLITZKOIN. The minimum buy amount is 100 USD if payment is made through any of these Crypto Currencies — Bitcoin (BTC), Ether (ETH) and Stellar (XLM). For payment made through Bank Transfer, the minimum buy amount is 10,000 USD.

If you want to know the complete list of trending ICOs then you can check the ICO list.

Conclusion — GlitzKoin ICO

This is a great idea for an ICO and a case where blockchain technology can provide a solution to real-world problems.

Everyone knows that the diamond industry is mired in controversy with blood diamonds being amongst the biggest issues, but also issues of fakes and sub-standard diamonds too, as well as criminality.

So to place the entire process on the blockchain should help to cut out a lot of these problems and provide transparency and legitimacy throughout the process from mine to shop.

As ever, the question will be convincing all the parties involved to sign up to the blockchain, but hopefully that will come if they can convince at least a few of the major players to do so.

The idea of people being able to buy shares of diamonds is really good and could allow people to invest in something that hadn’t previously thought of or been able to afford.

So overall this looks like an interesting ICO and with over $10m already raised the future looks bright for Glitzkoin.

Markets

Traditionally diamond trading is carried out through personal contact. Valuations however diligently undertaken are to some extent based on guesswork. According to industry insiders, not all diamond dealers can be trusted. Glitzkoin aims to introduce transparency into this currently obscure market.

Currently, the market for rough diamonds is around $15 billion a year, and that for diamond jewellery is approximately $79 billion.

GlitzKoin Road Map

1. Q4 2017

Initial Spark Followed By Background Research;
Development Of Initial Concepts And Diamond Industry Outreach;
Initial White Paper And Design Prototypes

2. Q1 2018

Project Scope, Token Use Case Design And Token Economics;
Core Founding Team On Board;
Company In Stealth Mode & Registered In Estonia;
White Paper & Technical Architecture;
Official Website Launch;
Token Presale Launch;

3. Q2 2018

Launch Of Public Token Sale;
Conclusion Of Token Sale And Distribution Of Tokens;
Diamond Exchange Development;
Start Global Marketing Effort.

4. Q3 2018

GLT Token Listing On Crypto Exchanges;
Beta Testing Of Diamond Exchange Platform;
Development Of Global Diamond Track & Trace System.

5. Q4 2018

Decentralized Exchange Deployment;
Global Diamond Track And Trace System Deployment;
Bug Fixes And Enhancements To Deployed System.

6. Q1 2019

Adding More Features/Tools To GlitzKoin Diamond Exchange; Continued Marketing To Increase GlitzKoin Awareness.

Decentralized Exchange

GLITZKOIN implements a global exchange that focuses on bridging the gap between the traditional diamond industry and the innovative financial markets spearheaded by cryptocurrencies. With extensive industry knowledge, we aim to engineer a ground-breaking change — enabling people to liquidate and invest in diamonds like any other financial asset, all within a transparent and secure environment. The GLITZKOIN Diamond Exchange enables anyone to invest in individual diamonds, shares of a high-value stone or shares in a basket of diamonds like an ETF.

VISION

GLITZKOIN’s vision for the diamond industry. GLITZKOIN seeks to build a blockchain based open ecosystem for the diamond industry where all the trade in diamonds can be conducted and coordinated. GLITZKOIN is a global startup that uses the best of emerging technology including blockchain, smart contracts and machine learning to assist in the reduction of risk and fraud for banks, insurers and open marketplaces in the diamond and precious stone industry. We provide a full ecosystem for the diamond industry from a supply chain solution, to tracking & certification of diamonds and finally a decentralized exchange for the trade of diamonds and