The Glitzkoin project and GTN token have been in the limelight, ever since the project was launched in early 2018. No doubt that the concepts put forward by Glitzkoin, were unheard of and even confusing at that time. When crypto circles were talking only about Bitcoin, the Glitzkoin team was pushing for ‘crypto usage’ and a wider representation, of cryptocurrencies in crypto markets.
A slight jolt during the 2020 pandemic but, quickly back on track in early 2021 – Glitzkoin has today become the focus of attention among crypto analysts. The surging interest in the Glitzkoin GTN token, can be gauged from the number of reputed analysts who, have offered to promote the project and the token.
CEO Navneet Goenka has this to say, “… we have always maintained that, GTN should rely on organic growth. Paid media noise can never replace, true substance and fanatical commitment. We have a commitment to all GTN investors, that should be motivation enough”.
The DiaEx trading platform that, would make a direct connect to the $90 billion diamond industry, has now been fully developed. The second pilot test phase where a group of diamond traders run, actual transaction data on the platform is scheduled to complete in Q4/2021. The platform has been designed to accept the GTN token as the mode of payment.
The team has been exploring the possibility of deploying, platforms similar to DiaEx across a range of industries. This is something that would, further increase usage of the GTN crypto. Not many blockchain and crypto projects have built in such comprehensive plans, to increase usage of their cryptocurrency. This move in itself, has drawn the attention of seasoned cryptocurrency players.
Another feature that has raised the level of the Glitzkoin project is the, way in which efforts are made to go beyond what was planned in the project white paper. The partnership between online ticketing giant MyTicket.Asia and Glitzkoin in the year 2019, recognizes GTN as a mode of payment on the ticketing platform. The development process for this project, has been completed.
The pandemic situation has slowed down business in the entertainment industry. The launch of the MyTicket-Glitzkoin deal will be scheduled when the conditions are right. Having said that negotiations are already underway, to strike similar deals with other business operators. The objective is to have the GTN token implemented as a mode of payment on, existing online platforms.
A journey that started in 2018 when Glitzkoin was launched, has today achieved an impressive degree of completion. No denying the fact that, the confidence and loyalty of Glitzkoin well wishers and investors, was extremely motivational to the team.
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]