The Altcoin sector is densely crowded, differentiation is the only way to gain recognition and stand apart from the crowd. Glitzkoin is aware that the GTN token, faces tremendous competition. A study of the project plan would reveal that, differentiation is in focus. The project includes modules that, promote Glitzkoin GTN as a mode of payment.
Conceptualized in 2017 and launched in 2018, the Glitzkoin project has made significant progress on multiple fronts. The Glitzkoin GTN token now trades on over 10 crypto exchanges. The DiaEx diamond trading platform which is a part of the project, designates the GTN token as the mode of payment. The platform supports B2B and B2C trade in diamonds and is aimed at, improving efficiency and market scope for the $90 billion diamond industry.
As per an agreement finalized in 2019 between online ticketing giant MyTicket.Asia and Glitzkoin, visitors to the ticketing portal would be allowed to use the GTN token to pay for their purchases. This partnership signaled Glitzkoin’s entry into the entertainment industry.
We are in 2021 now and it is important to review the progress made by the project. The DiaEx diamond platform was schedule to be launched in 2022, this date has now been preponed. After a very successful second pilot run was completed in September 2021, Glitzkoin experts have decided to prepone the launch date. The second pilot phase was much more than a ‘test’ as, live transactions were conducted by diamond dealers during this phase. Payments were settled using the Glitzkoin GTN token and actual delivery, of the diamonds was taken. Preapproved diamond dealers, would now be invited to operate on DiaEx – this signals a true launch.
Development work to implement the MyTicket-Glitzkoin partnership has been completed, multiple rounds of testing have been organized. The system integration process has been developed and tested in September 2021. It is our serious intention to give visitors to the MyTicket.Asia ticketing portal, an exciting payment option. We hope to open up crypto payments on the portal ‘as soon as possible’. In this case, things would become possible, once the pandemic is brought under control. The entertainment industry, has been badly affected by the health crisis and related government restrictions, have only worsened things.
Launching these two important components, will open up further possibilities for the Glitzkoin GTN token. Negotiations are already underway, to develop and install platforms similar to DiaEx in a range of industries. Partnerships similar to the one with MyTicket.Asia, are also discussed. The GTN token would be included as a payment option, in all such cases.
We are at a point where GTN investors, various industries and Glitzkoin – have common objectives. A scenario where the future holds much potential for all 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.