What Is GlitzKoin?
GLITZKOIN is a blockchain-based projects that intends to revolutionize the diamond industry by leveraging smart contracts and machine learning. The startup is ran by a team of experts from bother the diamond mining sector and blockchain technology experts.
How GlitzKoin Decentralized Diamond Industry Platform Works
Integrating Blockchain Technology To The Diamond Supply Chain
The GLITZKOIN platform will bring together all stakeholders involved with the diamond trade, all the way from the mining process to its eventual sale. This will significantly increase the efficiency of transactions within the sector.
Besides, the integrated blockchain is specifically made for the diamond sector. It combines both private and public distributed ledgers to establish a hybrid model which offers more transparency than the normal structures. Other benefits of the GLITZKOIN blockchain include privacy, usability, inalterability and compatibility with third-party applications.
The primary objective of the GLITZKOIN global exchange is to incorporate the use of digital currencies in the existent diamond sector. This revolutionary idea will enable investors to liquidate their diamonds as they would to any other financial asset. However, unlike other assets, this exchange guarantees transparency as well as security during transactions.
Notably, all transactions on the GLITZKOIN platform are validated using smart contracts. These contracts are based on the Stellar Blockchain, which facilitates the processing of multiple requests per minute while imposing affordable charges.
Global Diamond Track And Trace
GLITZKOIN will keep a record of all physical and digital assets on its proprietary blockchain databases. Regarding diamonds, the platform will ascertain its salient features, history and ownership. This data will be digitally stored on the distributed lager, where it can be accessed to validate the authenticity of an asset as well as its provenance.
The GLITZKOIN ecosystem is a collection of services that work together to avail a seamless experience to players in the diamond mining and processing industry. Moreover, it also provides a basis for the development of related applications. It comprises of:
- GLITZKOIN Wallet – this is the platform through which users manage their coins and validate transactions.
- GLITZKOIN API – third-party applications can integrate GLITZKOIN services onto their platforms using the project’s API.
- GLITZKOIN Merit Engine – after the completion of the token sale, GLITZKOIN will launch a loyalty reward system based on merit scores.
GlitzKoin GLT Token ICO Details
GLITZKOIN will issue a token with the same name during its token sale. The total supply of tokens is capped at 999,000,000 GLT.
Distribution Of Tokens
During the crowdsale, the eligible cryptocurrencies will be BTC, XLM, LTC, ETH, and XRP. The tokens will be distributed as follows:
- 35% – company
- 20% – market making
- 20% – community
- 25% – token sale
The GLITZKOIN concept was incepted in the last quarter of 2017. In 2018, the company became registered and subsequently inaugurated its website as well as the presale phase of the token sale. The ICO main event is scheduled to take place in the second quarter of 2018, after which the project will embark on a marketing campaign. Later on, the GLT token will be made available on cryptocurrency trading platforms.