The main endgame of cryptocurrencies is to provide a means of wealth for many people, but the hard facts behind this technology are that it makes the management of any industry much less shady and clean thanks in no small part to Blockchain Technology.
Glitzkoin is coming to disrupt one of the dirtiest industries in the world by making every deal involving diamonds as clean as the water. The team working at the company is very familiar with every aspect related to the way diamonds are handled, sold, and traded on the open market.
They also have some of the greatest specialists in Blockchain working with them. Many big players and stakeholders in the industry are betting on the success of this initiative, mainly because if it proves to be successful it will give a facelift to a maligned marketplace.
All Diamond Players under a Single Roof
One of the biggest goals set by the guys working at Glitzkoin is to bring all the big players in the diamond industry under a single roof. The company is looking to make deals with legit mining companies, polishers and artisans, certification services, retailers and finally with consumers. It’s a tough mission since many of them have their own ways of working the marketplace in their favour.
But having the option of following each one of their stones under a simplified market watch that lets them know the state and value of their rocks in real time can look very attractive. Primarily when the Blockchain certifies the authenticity of the diamond using tamperproof methods that allow even the most basic user to spot a scam.
The Strongest Selling Point of Glitzcoin
Glitzcoin offers a number of advantages just by using a Blockchain network for their operations. The levels of security increase a ten-fold when their customary programming offers something that most blockchains networks are not able to offer: privacy meant for the parties involved in the transaction and no one else.
To paint a clearer picture we just need to point out the fact that the public nature of Blockchain could make every transaction a field for competition between diamond merchants that could take down prices in the long run.
Since the marketplace for diamonds sorely lacks stability instead of downsizing, each transaction will be kept private, and the information will only be disclosed if both parties agree to it or an issue arises during the exchange.
The Endgame for the Glitzkoin Initiative
Since the Glitzkoin network is being developed for every player in the diamond marketplace the mainframe of the platform is one of the most user-friendly you’ll be able to find. The protocols of the network will be easy to incorporate on the existing systems of each company to secure seamless integration.
The supply chain will be handled on a sole ecosystem where the security features will be built to be in compliance with the Federated Byzantine Agreements to run a clean network that will filter out those who try to sell fake stones. Every player of the network will build a reputation that will be available on demand by the players of a transaction. Failure to comply could risk the deal.
In the end, the historical records of transactions will give every user the chance to be as mindful as they want when it’s time to make a deal. To learn more about Glitzkoin offerings, you can go to https://www.glitzkoin.com/.
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