The DiaEx diamond blockchain is a major component of the Glitzkoin project. The GTN token launched within the project has been assigned a very strategic role. Diamond traders operating on the DiaEx platform, utilize the GTN token to settle payments. The token is also actively traded on 3 crypto exchanges (Dobitrade, CoinTiger, Stellarport) by the crypto community.
Most blockchain projects end their role after the crypto is launched, the project then relies on nothing but crypto market speculation to work on the crypto. Glitzkoin has been one of the very first projects to make a direct connect to the real world economy. Promoted by second generation diamond veteran Navneet Goenka, Glitzkoin is poised to improve productivity and market scope for the multibillion dollar diamond industry.
The project includes a comprehensive blockchain based diamond trading program DiaEx, that is designed to handle B2B and B2C trade in diamonds. Having completed the development phase in late Q2-2019, DiaEx has been going through a thorough pilot run until recent weeks.
It is important to understand that the transactions conducted during the pilot run are authentic and not, test generated buys and sells. A group of diamond traders have been conducting actual transactions on DiaEx. The Glitzkoin team has been closely monitoring the operation and providing, adequate support as and when required.
The pilot run has delivered impressive results and over 600,000 GTN tokens, have been transacted by diamond traders. This to settle payment obligations for trade conducted on DiaEx. The run has also allowed to highlight specific areas within the platform, that call for minor adjustments and tuning. More importantly, no major issues that require significant overhaul have been reported.
The successful pilot run for DiaEx reaffirms GTN as being a truly multifaceted crypto. Besides being actively traded on 3 exchanges (Dobitrade, Cointiger, Stellarport) GTN is also the designated mode of payment on the DiaEx diamond trading platform. Ongoing efforts are being made to get business houses in a range of industries, to accept the Glitzkoin GTN token as a mode of payment. This is something that will further, enhance the demand for GTN.
Here is an outline of the schedule to fully implement and deploy the DiaEx diamond trading platform. With the pilot run proving that no major overhaul or update is required, we expect the final touches to be done within 2019. The first and second quarter of 2020, will see the complete rollout of DiaEx. Traders from across the globe can then register and operate on the platform.
Glitzkoin CEO and diamond veteran Navneet Goenka, explains why the 2020 scheduling is necessary. In his words, ‘… the DiaEx pilot run involved actual transactions, this was not test or simulated data. Fortunately we had no issues that would call for large scale correction or updates, the few minor hitches are already being worked on. One area where we surely need to scale up is support. This involves support for users without crypto knowledge and support related to diamonds, for buyers with little knowledge about the precious stone. This is where the focus is now on. Having said that, we are confident that the Q1-Q2 deployment in 2020 is very possible’.
GLITZKOIN: While it might appear that the Glitzkoin GTN multifaceted crypto has pulled in all the limelight, the project has much more to offer than the GTN token. The project includes the first robust blockchain based diamond trading platform, DiaEx. The GTN token is designated as the mode of payment on the platform, it also actively trades on three crypto exchanges – Dobitrade, Cointiger and Stellarport.
The development phase of DiaEx was completed in a record 15 months, this after Glitzkoin successfully completed an ICO in June 2018. The project makes a direct connect to the multibillion dollar diamond industry. Promoter and CEO Navneet Goenka is a second generation diamond veteran.
At a time when almost 80% of the cryptos launched have crashed to a fraction of their ICO closing value, the GTN has boldly maintained a price level that is close to the ICO closing price of $0.20. Implementation of the DiaEx in the first half of 2020, will significantly up the demand for GTN - the token is the only mode of payment accepted on the diamond platform.
Another aspect of Glitzkoin is the move to have businesses in other industries, use the GTN as a mode of payment in their operations. Much groundwork in this direction has been accomplished in the second half of 2019. Trial runs for this part of the project are scheduled to happen in the first half of 2020. This offers yet another avenue to increase demand for the GTN token.