It was about a year ago that Glitzkoin published a report about cryptos and banks on the Infopedia channel. The report was based on the views of Glitzkoin CEO Navneet Goenka and Glitzkoin Russian Advisor, Mikhail Kozlov.
The essence of the Glitzkoin report was that, the conventional banking system would gradually lose its importance if, it did not adapt itself to the technical innovations invading the financial sector.
Times have changed, an increasing number of nations are implementing laws and regulations to oversee crypto transactions. Changes are also being rolled out in the banking sector. Swiss Bank SEBA claims to be the first, crypto supporting bank to have been given a license.
More crypto banks have been launched in recent months, they aim to bridge the gap between conventional banking and cryptos. The interesting thing is that most of these banks offer services related to both, conventional banking and digital assets.
Mikhail Kozlov welcomes the trend, ‘… let me say that this very welcome development came sooner than I had expected. Banks should include crypto related services in their operations. Having said that, it is necessary for crypto risk factors to be clearly understood and evaluated’.
There was another view expressed by CEO Navneet Goenka, ‘… I surely welcome the emergence of crypto banks. But looking at things in a different perspective, I wonder whether banks will gradually take over the work of crypto exchanges. This is more likely to happen now as, cryptos are being legalized in many nations. This after defining rules and laws to govern crypto trade’.
GLITZKOIN: The first diamond blockchain project to be promoted by a diamond veteran, Glitzkoin developed from the vision of second generation diamond veteran Navneet Goenka.
The project includes a comprehensive blockchain based trading platform. Nicknames DiaEx, the platform has been thoroughly tested in a B2B and B2C environment. The multifaceted GTN crypto which is a part of the project is also the, designated mode of payment on DiaEx.
Glitzkoin successfully completed an ICO in June 2018 and the GTN token, currently trades on 3 high volume crypto exchanges. The DiaEx diamond trading platform has successfully gone through a pilot run that was conducted for around 3 months. Actual diamond transactions in both B2B and B2C environments were successfully transacted. Complete deployment of DiaEx for global access is on schedule, it is due to launch in the first quarter of 2020.