Glitzkoin has repeatedly urged the crypto industry to encourage crypto usage. The project has incorporated this concept into its mission. The DiaEx diamond trading platform which is a part of Glitzkoin, designates the GTN crypto token as the mode of payment. With an intention to go beyond the 90 billion dollar diamond industry, Glitzkoin is also focused on partnerships across a range of businesses.
A partnership was finalized between MyTicket.Asia and Glitzkoin in early 2019. As per the agreement, visitors to the leading online ticketing portal, could soon use the GTN token to pay for their purchases. This would add another stream of demand for the token.
While development work to implement this agreement was largely completed, implementation was delayed due to the pandemic. With the health crisis showing signs of easing, Glitzkoin expects to implement this module in 2021.
GTN investors realize that the MyTicket-Glitzkoin partnership is just the beginning, the plan is to make similar agreements across industries. Negotiations are currently underway with a few business operators. Final discussions are expected to pick up pace once, the agreement with MyTicket.Asia is fully implemented.
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]