One of the most expensive natural martial in our world is the cubic crystal solid form of the carbon, known as diamond. This material is so valuable in industry, because of its hardness and thermal conductivity, and in jewelry, because of its beautiful look. For centuries the richest and most powerful men and women in the society are wearing diamonds, to show up their power. Nowadays diamonds are also used in the industry for cutting and polishing as well as heat dissipating. But getting diamonds is hard and expensive. And worse - time consuming…
First the buyers have to find trusty sellers, then usually to meet them in person, which means they have to travel sometimes even thousands of kilometers to make the deal. Here we see three main problems – finding a dealer, trust and delivery. Glitzkoin is aiming to find solutions for all these problems and deliver them in one platform, to serve the diamond industry.
Glitzkoin’s goal is to improve the market by connecting sellers to buyers, improving trust, by removing the slow paper-based documentation and by improving the transportation costs. They also provide tracking and tracing of diamonds, based in blockchin, so the buyer can be sure what is buying and its history. Another benefit of the blockchain based marketplace is decentralization, which means that everyone can buy and sell diamonds.
By lowering the cost of the services around the diamond trade the overall cost of the diamond’s trade is lowered as well. That is making the diamond trades made through the system more cost efficient than usual diamond trade, which means more customers are going to use Glitzkoin, because of its cost efficiency. And even more customers are going to choose Glitzkoin for its transparency and privacy. The diamond industry is going to shake up a bit to answer against Glitzkoin or just to join it.
Every good project needs even better leader. For Glitzkoin this leader is the CEO Navneet Goenka. Nobody knows the diamond industry like he does. He is well aware of the problems in the industry and sees solutions for them in the blockchain’s distributed ledger and cryptocurrencies. He is an amazing specialist in its area and with its over two decades of experience in it is great leader. Looking at the rest of the team the story is similar – great and experienced professionals in their areas, motivated to revolutionize the diamond industry.
First impression is very important, especially in the expensive commodities markets. And Glitzkoin’s first impression is their website. It is looking very space-age-y, with the futuristic design and illustrations. In total contrast of the design is the drawed introducing video. I don’t really like the mixing of the stiles, but it is ok. The website contains just enough information to get basic idea of the project and all needed links to additional information. The website is pretty good, excluding the small design mix up.
The project is pretty popular in the social networks. It is having decent number of followers in the most popular social networks. Let’s start with Twitter with around 2700 followers, Telegram with 3200 members and Facebook with over nine thousand followers. Glitzkoin can also be found in YouTube and Medium as well as in the popular forums like Reddit and Bitcointalk.
Glitzkoin’s whitepaper is pretty short, which I don’t like pretty much. How short? There are 5 main themes in 17 pages, 2\3 of which are illustrations. Even the font is pretty small the information does not look enough for the seriousness of the project. Overall the quality of the writing and illustrations is pretty good, but a little bit more detailed information will be appreciated.
The project started development in Q4 of 2017 and in Q2 2018 are launching the public token sale. The development of the platform itself is scheduled up to Q1 of 2019 and since then only the marketing to increase awareness of the platform will be continued. Overall the project is developed it time period of year and a half, which is looking pretty challenging for a small group of developers, but is easily reachable by a bit larger one.
Glitzkoin is great idea, promising to make change in one technologically backward industry of diamond trading. The idea is well taught and compliant with industry’s needs. The team behind the project is very experienced and I believe they can easily handle the building of the platform in time. The website is good, but the whitepaper needs a bit more information. Popularity of the project is on point, which is very important for the future implementation. Overall good project with a lot of great market opportunities, which will shine just like a diamond.
⚠️Disclaimer & Disclosure: None of what I provide in my articles is investment advice. Please do your own due diligence. A link to the article will be sent to the ICO team and they may issue a reward for it.
❕Glitzkoin’s website: https://www.glitzkoin.com/
❕Glitzkoin’s whitepaper: https://www.glitzkoin.com/dist/img/pdf/Glitzkoin-Brochure.pdf
⚠️Username at Bitcointalk: mirofame
⚠️Profile at Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1653137