This was the title of a Glitzkoin post on LinkedIn and was subsequently tweeted. Drew much attention as many crypto participants wondered whether, Glitzkoin had finally joined the group of crypto predictors and guess masters. The theme of the report is in reality a narration of present reality.
Get on twitter and track the big crypto players, those with thousands and even millions of followers. A significant number of these accounts are now, consistently tweeting about Altcoins. They have surely not given up on Bitcoin and ETH but, their newly acquired fascination with Altcoins cannot be missed.
No doubt that most reference is made to the same group of Altcoins - no more than 8 to 10 of them. The posts are smartly worded and just fall shy off, what could be termed as 'price pumping'. We have no complaints in general about this trend. Glitzkoin has always goaded crypto pundits, to shed light on Altcoins. The idea is for the crypto market to be defined by a broader group of cryptocurrencies. Things are moving in that direction and everyone in crypto space should applaud it.
Where we could see improvement is when, Altcoins are selected to generate buzz and trade activity. We would see more constructive engagement if, the pundits actually helped highlight Altcoins which had good potential. These could be Altcoins that for some reasons remained hidden, within the heaps of Altcoins that are currently listed.
Followers of the Glitzkoin project would agree that, many issues raised in the Infopedia section of the www.glitzkoin.com website, have started being addressed. We talked about the need for a wider inclusion of cryptocurrencies in crypto markets, highlighted the need for crypto legislation, explained the valid logic behind crypto taxation etc. Our stand on these and other crypto related issues, has remained consistent over the years. We will continue to push for change that would in the long term, benefit all crypto industry stakeholders.
GLITZKOIN: A quick recap of the Glitzkoin project and the GTN crypto token. The project was launched to improve the demand for natural diamonds and to enhance, the efficiency and productivity of the multibillion dollar industry.
The DiaEx diamond trading platform was developed using Stellar blockchain resources. The GTN token was launched as part of the project and is designated, as the mode of payment on DiaEx. Promoted by second generation diamond veteran Navneet Goenka, Glitzkoin assigned a multifaceted role to the GTN token.
The trading platform was completed in 2019 and was put through rigorous testing in early 2020. A team of diamond dealers subsequently did a pilot run on DiaEx with, actual transactions made on the platform. This process was largely successful and revealed a few areas for improvement. The Glitzkoin tech team was handling the minor adjustment when, the pandemic and subsequent lockdowns slowed down the process. The management will reschedule the full launch of DiaEx once the health crisis eases.
Talking about the multifaceted nature of the GTN token, the project is also focused on further increasing usage for the crypto – this aside from crypto exchange trade and the payment usage on the DiaEx platform. The concept is to have operators of various businesses, accept the GTN token as a mode of payment in their operations. Moving this idea forward Glitzkoin has confirmed a partnership with online ticketing giant Myticket.asia, wherein clients of the ticketing portal could use the GTN token as a mode of payment. Technical requirements for the integration of systems on both sides is at an advanced stage, nearing completion. Reviewing the challenges that the entertainment industry has been going through during the COVID pandemic, both managements have decided to set a launch schedule when the situation starts to normalize. The arrangement setup between Glitzkoin and Myticket.asia will form the blueprint, for similar deals to be negotiated with other business operators.
Related Resources: [Project Updates]