Hi Vazan25, you would be glad to know that the Glitzkoin blockchain project was conceptualized and launched, after a thorough study of the global diamond industry. Unlike most blockchain projects that evolved from tech rooms, Glitzkoin was launched as a means to resolve many of the deficiencies in the diamond industry and more specifically in diamond trade. It happens to be the first diamond blockchain to be launched by a diamond veteran and not a blockchain guru. After all, technology is merely a tool used to achieve certain results in the real world.
Coming to the usage of the DiaEx diamond exchange. Total trade in diamonds stands at around 90 billion dollars, this spread across more than 70 nations. The unique feature of the DiaEx platform is that, it is designed to support B2B and B2C transactions. Built in features like the mandatory diamond certification and the KYC that will be conducted for sellers and buyers, will boost confidence. It would for the first time, be possible for an absolute novice to buy a diamond online - without the risk of being overcharged or receiving a fake stone.
We have already processed and coded more than $500 million worth of diamonds to be listed on the first batch. That figure should move up to around $1 billion within the first 3 months of operation. Conventional diamond trade is characterized by brokers and middlemen, these entities in the supply chain can inflate the price of the stone by as much as 15% to 25% - this by adding their own commissions and brokerage fees to the originally quoted price. Buying a stone on the DiaEx would connect buyers directly to the exchange, no fakes and no price inflation.
A very modest target of 3% to 5% of the total diamond trade has been envisioned for the Glitzkoin diamond platform (DiaEx). This would amount to a whooping $2.7m to $4.5m - and if you consider that the GTN token would be used to settle payments, you can well imagine the excitement that this would generate for seasoned crypto traders.
Regarding the time frame, the DiaEx is scheduled to reach the testing phase in Oct 2018. A full fledged launch is slated for the 4th quarter of 2018.
Thanks for your message and allowing us to explain the project in more detail. The token is now trading on Stellarport and can be reviewed at
https://stellarport.io/exchange/alphanum4/GTN/GARFMAHQM4JDI55SK2FGEPLOZU7BTEODS3Y5QNT3VMQQIU3WV2HTBA46/native/XLM/Stellar