We have often talked about building usage cases for the Glitzkoin GTN token. The DiaEx diamond trading platform, which is part of the Glitzkoin project – designates the GTN token as a mode of payment. This is one GTN usage case where, the token is deployed as a payment token.
The MyTicket-Glitzkoin partnership is a more advanced case. It involves dealing with an external business from the entertainment industry. MyTicket.Asia the leading online ticketing portal, will soon allow customers to pay for their purchases using the GTN token. This is another case where Glitzkoin, focuses on increasing usage of the GTN token.
It is true that GTN investors are keen to see, the implementation of the DiaEx and MyTicket modules. So why are these and other usage cases for the GTN, important for crypto investors. At the very basic level, deploying the GTN token as a mode of payment, would increase market activity for the token. And since this buy and sell activity, would be purely organic – the token would be better assessed, by dozens of portals that track GTN and other cryptocurrencies.
A crypto that has wide usage, gains more exposure, this builds reputation and long term loyalty. It is generally known that, interest in cryptocurrency has grown tremendously in the last 2 years. One notable feature is that, the number of non tech crypto investors is increasing at an impressive rate. Expanded exposure for a crypto becomes even more important, as the market width expands.
The fact is that very few crypto projects are backed by comprehensive project plans. GTN which is launched as part of the Glitzkoin project, has a strategic role to play. While it does trade on multiple exchanges like other cryptocurrencies, it also performs multiple tasks within the project. This is something that has attracted medium to long term investors to GTN.
Two quick notes related to the DiaEx trading platform and the MyTicket-Glitzkoin partnership. The technical team at Glitzkoin is currently exploring, options to deploy trading platforms similar to DiaEx, across a range of industries. These platforms would have the GTN token, as one of the payment options. The MyTicket-Glitzkoin partnership is just the starting point, negotiations with other business operators for similar partnerships are already underway.
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]