Glitzkoin has consistently maintained that Altcoins must take on a bigger role. This is a general statement and applies to all Altcoins, not just the Glitzkoin GTN token. The mistake of building multi trillion dollar crypto markets, based on a handful of cryptocurrencies – was glaringly exposed during the April – May 2021, crypto market slump.
To be more resilient and attractive to a wider base of investors, the foundation of crypto markets must include a wider range of cryptocurrencies. Navneet Goenka CEO Glitzkoin makes a point, “… you have over 5,000 trading Altcoins … but you will hear crypto media talk about, no more than 10 to 20 of these. Altcoins that make the most media noise and spend big on publicity campaigns, get noticed”.
There is no blame game here, corrections are possible and called for on both sides. While project promoters must build comprehensive projects with, clear cut plans – crypto media and analysts, must review Altcoins based on their true value. Glitzkoin Business Development Manager Lila (Hussain) Ruzaini says that, “… there is surely a place for commercial crypto media but, this media content must be marked as such. It is not uncommon to see paid media content from crypto analysts that, is passed off as their personal opinion or recommendation!”.
2021 has seen many more Altcoins enter the limelight, this is something that should be welcomed. Cryptocurrencies like DogeCoin, Cardano, XLM and Glitzkoin GTN have gained much investor interest. It is important to keep up this momentum, what we must aim for is at least 200 to 300 actively trading Altcoins.
Navneet Goenka talks about Bitcoin and Altcoins, “… we are in no way implying that, Bitcoin is on its way out or down. Crypto markets need BTC but what they do not need is, super domination by a handful of cryptocurrencies … focus should be on increasing Altcoin activity rather than on, lowering BTC trade or price”.
Glitzkoin GTN which started trading in 2018 is backed by a comprehensive project. Built in modules within Glitzkoin are aimed at, increasing usage of GTN. With a sizeable portion of the development work completed by 2019, the Glitzkoin team continued to work remotely through the 2020 pandemic lockdowns. Additional exchanges are being added for Glitzkoin GTN in 2021. The idea is to provide more investor exposure to the token. Since GTN is being promoted as a payment token, there is a need to make Glitzkoin GTN more easily accessible.
The video embedded on this page, will give you a clear idea of the scale and vision, with which the Glitzkoin project is being developed and 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.