In this episode of my review, I want to carry out a SWOT analysis framework on Glitzkoin. The SWOT Analysis is known as the Strength, Weakness, Opportunity, and Threat of a business model. It is the foundational assessment model that helps an organization to identify its internal and external factors, that enables them to make a solid plan for their business growth. It is a tool for general business strategy.
SWOT Analysis
Strengths
As an industry that is currently valued at about $90billion dollars, Glitzkoin is pioneering the diamond industry trade on the blockchain. It is the first blockchain to create a marketplace on the blockchain for diamond. This sets it way ahead of future competitors as it would acquire more market value for diamond trading within the blockchain ecosystem.
The use of blockchain to accelerate diamond trading would create a seamless transaction between buyers, sellers, and all stakeholders within the ecosystem, and help infuse trust within the ecosystem and create transparency between transactions.
Another strength which I find in Glitzkoin is the team. The CEO of Glitzkoin is Navneet Goenka who is a veteran in the diamond industry, with over 20years of experience in the industry, and their head of Business development is also endowed with 23years of experience in strategic, fiscal, and operations leadership. Head of Technology is Shashank Agarwal who is a blockchain expert with over 10years of experience in the technology industry. If you look closely you would agree with me that these army of expertise are more than ready to bring this project to life.
Weakness
Even though this looks like a perfect project, but there is still some weakness. As cryptocurrency is still emerging, it is yet to be adopted by many. It would take few more years for the world to fully adopt the technology.
Oportunities
In this section, we would look into the opportunities that are available for the Glitkoin project.
With the current cryptocurrency 24hour trading volume about $20billion at this bear time, the cryptocurrency market is still emerging and this volume is predicted to increase x5 or more in the coming months. with currency total market cap of about $250million and about $800million at the beginning of the year, which shows there is still huge room for growth in the coming months.
The diamond industry is valued at about $90billion with the clumsy way of transactions are carried out, and the chances of fake diamond being sold in the market. If blockchain technology is implemented in the diamond industry and an avenue is available for everyone with no fear of fraud, the current value is likely to experience a significant increase.
Threats
The crypto space is still very much a baby, and there have not been much done about the regulation of the space. Which subjects the crypto space to a lot of volatile regulation that may come up in near future, which may in one way pose a treat to some blockchain project.
additionally, the crypto space is very volatile and it hasn't gone mainstream yet, this is something I think would take a little while to happen, which would leave the projects market value operating below per.
In conclusion, we could read through the positives and negatives surrounding Glitzkoin, and we clearly see the positives far outnumber the negatives. As the project intends to provide solutions to the challenges faced by the current diamond industry, we could see it has no rival in this market.
Further Information
Website : https://www.glitzkoin.com/.
Whitepaper : https://www.glitzkoin.com/dist/img/pdf/Glitzkoin-Brochure.pdf.
ANN Thread : https://bitcointalk.org/index.php?topic=3355944.0.
Facebook : https://www.facebook.com/GlitzKoin-193241214767377/.
Twitter : https://twitter.com/GlitzkoinToken.
Telegram : https://t.me/joinchat/H2lmsxLwenY3S8Fp_CFQBA.
Reddit : https://www.reddit.com/r/glitzkoin/.
Medium : https://medium.com/glitzkoin
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This article is not a financial advice. Investing in ICO may be extremely risky, always remember to do your own research and consult financial and legal advisors before investing in ICOs.