There have been rumors and posts, trying to guess Glitzkoin’s business interests in Thailand since early 2022. These rumors picked pace after Glitzkoin organized its first charity event in Thailand, this was in February 2022. The program was organized to provide clean and healthy meals to needy Thais. Local contacts known to our CEO were, on the streets handing over trays of ready to eat food. That was the time when Thailand had still not done away with, restrictions on movements and international travel.
We moved ahead into the year and the Glitzkoin team was, engaged in drafting a business plan for operations in Thailand. The first move which was quite obvious would involve, getting the Glitzkoin token listed on one or more Thai crypto exchanges. With the token already listed on over 10 reputed exchanges, a listing in Thailand would not pose much of a challenge. July 2022 was a tough year for crypto exchanges. Quite a few crypto exchanges fell due to the severe crypto market slump. It is therefore understandable that, we are in no rush to do any additional, crypto exchange listings for the Glitzkoin token now.
With requests from Thai diamond dealers, for the use of the DiaEx diamond trading platform – Glitzkoin readies for a late 2023 launch in a number of countries. Current efforts are directed at building DiaEx support teams that, can communicate in languages other than English. Thailand happens to be an important global player, in the gems, diamonds and jewelry industry.
When implementing the Thai charity plan in February 2022, Glitzkoin had clearly mentioned that, the program was based purely on humanitarian grounds. We will say that again in July 2022 as, we launch another charity donation drive in Thailand. On hearing that the country has been bracing for yet another COVID-19 wave, CEO Navneet Goenka has announced a new round of help to needy Thais. Coordinating with a few orphanages in Thailand, arrangements have been made to donate a number of daily use items to these places.
Close to a ton of items including provisions, food grains, milk in ready to drink packets, drinking water bottles, cooking oil, fish sauce, food flavoring sauce, pampers, baby bathing soap and shampoo, detergent to wash baby clothes and other items have been donated as part of this drive. The COVID-19 infection has not spared children, several children in these orphanages are being treated on the premises. The situation prevented us from meeting the children and interacting with them.
In Navneet Goenka’s words, “… children do not belong to any specific religion or nationality, it is our duty to help and protect children – across the world. I would urge other businesses and individuals, to help in any small way that they can. Glitzkoin has been helping children in rural India and Malaysia … but much more remains to be done”.
Commenting on the Glitzkoin GTN token, Navneet Goenka mentioned that the token continues to be stable and has shown, a high degree of resilience in the past three crypto market slumps. The number of Glitzkoin GTN holders, has grown rapidly since 2021. He added that increasing the number of crypto exchanges that Glitzkoin GTN has been listed on, has significantly increased the base of investors tracking and investing in the token.
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.