Health Over Economy No Longer Possible – Need Strategy Shift

The pandemic has raged for over 8 months now showing no signs of abating. Regions that seemed to have it under control, are quite often reporting second and even third waves. 

The initial approach of locking people and economies down while, distributing financial aid to people has become unmanageable now. Government revenues have trickled and public health costs keep rising. A different approach is the need of the hour. 

What is needed is an opening up of economies, delivering job opportunities while still ensuring that, the risk factors related to the COVID-19 virus spread are kept under check. While making employment opportunities available, industries and governments should try to make the opportunities as inclusive as possible. This implies that, every person or at least a large proportion of people that seek employment – find it. 

While we talk about opening up and keeping a tight check on the risks of getting infected, it is important to understand individual responsibility. This task is too big and too sensitive to be left to the industry and government, each of us needs to play an active part. Wearing a mask, maintaining social distancing and following the practice of hand hygiene is absolutely essential. 

Businesses on the other hand, should provide sufficient facilities at the workplace for employees to practice the above safety precautions. Providing sufficient handwashing facilities, spacing out seating arrangements and even educating and supervising the adherence to the safety measures, should be undertaken. 

The summary is that we cannot remain locked down, neither can be open up recklessly. Every single human being on this planet, is a stakeholder in the fight against the deadly virus. This no time to play the blame game and no time to take undue risks. 

 

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.  

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Related Resources: [Project Updates]