Talking about the scope of the Glitzkoin blockchain project that includes, the GTN multifaceted crypto token. This is a quick roundup and more detailed videos, can be seen in the Glitzkoin Youtube channel.
It is important to define the scope of Glitzkoin because, most projects have nothing more than a cryptocurrency that, trades on exchanges. While GTN has been trading on exchanges, it has been assigned a more strategic role by Glitzkoin.
Promoted by a second generation diamond veteran, the project includes a comprehensive diamond trading platform – DiaEx. The platform provides the multibillion dollar industry, with an additional sales channel. GTN is the designated mode of payment on DiaEx, this adds another stream of demand for the token.
The partnership between online ticketing giant Myticket.Asia and Glitzkoin will soon allow, customers on the ticketing portal to use GTN to pay for their purchases. Besides adding another source of demand for GTN, this concept will set the tone for similar partnerships with other businesses. Negotiations in this direction are already in progress.
After a brief slowdown during the 2020 pandemic, the Glitzkoin project is now back on track. GTN is scheduled to start trading on the, Latoken exchange in the first half of 2021. The year would also see the complete implementation of the project.
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]