Topic: [ANN] DiaEx, Diamond Exchange launched by Glitzkoin - page 5. (Read 2681 times)

I often wonder as to why did you guys choose Stellar network to create your infrastructure while the whole world is going gaga over Ethereum or EOS? Can anyone please answer this.

this is first project in blockchain for diamond?

Hi kryptocatz, thanks for your participation on this topic. Talking about diamond trade and the mode of settling payments. The industry has for long been frustrated with stringent bank scrutiny and expensive bank charges. Many diamond stalwarts are of the opinion that, it is merely the big value of diamond transactions that attracts such unwanted attention. However the truth is that diamonds are extremely rare, they are scintillatingly gorgeous and they are awfully expensive. Neither the diamond community nor the banking system can change that scenario.
 
More than 80% of the $90 billion trading activity in diamonds, happens across borders in the form of international trade. Delays in payments, lengthy procedures and expensive bank charges pose a tremendous challenge. And of course, the complication of multiple currencies and conversions, adds its own complexity.
 
Gliitzkoin is headed by a diamond veteran, it is needless to say that, the diamond community has been kept updated about every single feature and process being incorporated into the project and more specifically, being implemented in the DiaEx diamond exchange. The platform will support B2B and B2C transactions, the presence of a cryptocurrency on the platform, will come as a relief to diamond buyrs at all levels. We can claim with confidence that, the presence of the GTN crypto token, was one of the major reasons why, the diamond industry welcomed the GLITZKOIN initiative.
 
Hope that answers your question, it is wonderful to see crypto gurus like you taking an active interest in real world business applications based on blockchain and cryptos. Keep in touch with the GTN token trading on Stellarport at https://stellarport.io/exchange/alphanum4/GTN/GARFMAHQM4JDI55SK2FGEPLOZU7BTEODS3Y5QNT3VMQQIU3WV2HTBA46/native/XLM/Stellar
 
 

You guys seem to have an impressive and clear cut agenda but, one question lingers in my mind. Why are you so confident that diamond traders will embrace your strategy to settle payments on the DiaEx platform using the GTN token. Yes diamonds are big bill merchandise and the move could significantly boost demand for the glitzkoin token - but will the diamond industry really be interested.

Our founder, Mr Navneet Goenka, is a 20 year diamond veteran and has created a huge network of diamond traders from across the world.
He has convinced leading diamond dealers of the benefits of a blockchain, and they will be listing their diamonds on DIaEx. This will be the initial supply for the platform.
For the buyers, we will be heavily advertising among the following user groups:
- Diamond Traders in diamond districts across the world.
- Crypto investors looking to diversify their portfolio
- Retail diamond buyers

Who would be the initial users for your platform?

The Platform is a work in progress.
Our business development team is also currently at work in acquiring diamond traders for the platform. They will be listing their inventory on the platform for anyone to buy.
Once the product is launched you will be able to see the details of the available diamonds alongwith other relevant details.

To put your mind at ease, i would like to mention two things:
- Our company is headed by a diamond veteran who can ensure a steady supply of diamonds for the platform.
- The payments from the buyer will remain in escrow until they are satisfied with their purchase. This will be enforced using smart contracts.

Hi blocktrasher18, will try to answer your query while keeping technical jargon related to diamonds at the minimum. When you talk about an impartial and unbiased certification, it needs to be done by an independent third party. While the 4C parameters (color, carat, cut and clarity) are very clearly defined for a diamond - sellers are known to set their own standards. There is often an intention to overstate the 4C parameters, the idea is to get a higher price for the stone. There are hundreds of diamond testing labs in the world but,  only a handful are internationally recognized. Diamonds listed on the GLITZKOIN DiaEx Diamond Exchange, will need to be certified from a shortlisted (4 to 5) reputed diamond testing centers. Another very important parameter that will be clearly mentioned on the diamond certificate relates to the, authenticity of the diamond.  To state that very simply, the stone will be certified as being natural and not factory made.

The promoters of GLITZKOIN are diamond professionals, being in the industry for decades they have a good idea where loopholes exist - and these will be plugged. At the end of the day B2B and B2C transactions can be conducted on the DiaEx diamond trading platform, from any point on the globe. The amazing thing is that both, professional and first time diamond buyers can trade with confidence.

We do hope that the above info answers your doubts. You might be interested to know that, more than $500 million worth of diamonds are currently being processed, verified and cataloged - these will list (first batch) the moment the DiaEx has passed through the testing phase. You can check a more detailed report on diamond certification on the main website at [url]https://glitzkoin.com/infopedia/glitzkoin-blockchain-requires-more-than-4cs-to-list-diamond[url]

Learnt whatever little I know about diamonds from your website but, had a question to ask. What exactly is a certified diamond? In what way does a certified diamond increase customer confidence. Also, who certifies the diamond is it Glitzcoin or some independent organization. Asking this because, if it can really boost buyer confidence, then trade on your diamond exchange would be much higher. For investors like me it would mean, higher demand for the GTN token - thus positively impacting the price.

thank you for your comprehensive answer, I read it, I wanted to ask you how I will be sure that it is in fact I buy the product and not a simple wrapper?

Thanks a lot for your question.
We are on track to developing a Diamond Exchange (http://www.diaex.info/)
The difference that we bring to the table is that, our project is headed by a diamond veteran of 20 years. He has been running a publicly listed diamond company for the past two decades, and has spent his entire life in understanding the finer nuances of the diamond trade. He has an established global network of different stakeholders in the diamond supply chain.
Unlike other tech startups, this is a disruption, not from the outside, but from the inside. An industry insider, has decided to take it upon himself to bring about changes in an industry in which, he himself is a second generation stakeholder.
Glitzkoin is essentially trying to build a marketplace, called DiaEx, for trading diamonds. As most of you would know, any startup looking to develop a marketplace, is always faced with the chicken and egg problem. Buyers will only come when there are sellers, and vice versa.
After long hours of explanation and endless sessions to present the concept of a comprehensive diamond blockchain configuration, GLITZKOIN CEO Navneet Goenka, has convinced leading diamond dealers to list their inventory on the blockchain. The list of certified diamonds ready to be listed on the DiaEx Diamond Exchange, now totals a little over $500 million. A significant increase in this list is expected by late October 2018, the same time when the exchange will be ready to run through a thorough testing phase.
The project is poised to bring positive change to an industry that despite its multibillion dollar turnover, has begun to show clear signs of stagnation. Lot of hard work remains to be done but, this would all be possible with your participation. 

konstant111 : great question let the team answer that but as an investor, I saw some advantages that this project has over other diamond blockchain concepts. Most projects begin with a technology, they then try to see where that can be applied in an industry. In the case of Glitzcoin, the CEO is already a second generation diamond veteran, he knows the weak spots in the industry. So he actually went scouting for a technical solution and was impressed with blockchain technology. What I mean to say is that, every feature incorporated into the blockchain application here, addresses a specific weakness or inefficiency in the diamond industry. And with an industry insider on the top, the diamond community is more likely to follow his advice. As crypto investors, we are of course keen to see GTN token demand rise, due to diamond trade on their platform - I think they call it Diaex. Since the annual turnover of the diamond industry is close to 90 billion dollars, the scope for token demand is significantly high. Keeping fingers crossed.

hi guys, I have heard about your company, what development path you have chosen in the future than this token is better, I have seen some other diamond companies based on blockchain technology?

The first industry specific blockchain project that I invested in. Does make sense to have an industry insider at the top, makes it easier to implement the project. Still a few months for the DiaEx to be deployed for actual use I believe, considering that the token price is quite reasonable – makes sense to hold them. If any of you has an idea of GLITZKOIN plans in Russia, please share it here. They have a diamond expert from Russia on their team and also Mikhail Koslov – a politician and expert business planner. Read somewhere about their official meetup in Moscow.

Hi Guys, a small note about the price of the GTN token.
We would prefer if the price moved organically without any intervention. To prove our commitment, we will refrain from doing high blast advertising and loud marketing campaigns. Just present facts, plans and updates as they really our and leave the decision to all of you.
Just a quick note, demand for the GLITZKOIN GTN token, has a three pronged feed.
(1) From the crypto community trading on the exchange, for now it can be reviewed on Stellarterm.
(2) From diamond traders operating on the soon to be implemented DiaEx Diamond Exchange, the GTN token will be used to settle payments on that platform.
(3) An innovative approach (under negotiation) to have high end department stores and malls accept the GLITZKOIN token as a mode of payment.

It is no secret that the potential for price rise of a token, is directly related to the forces of demand. This is even more true as the number of GTN tokens remains fixed at just 999 million. Even as we happen to be in the development phase, the token is doing extremely well. After successfully completing the ICO at a token price of $0.20 in June, the GTN token, maintains impressive consistency at the Stellar based exchanges – trading price is around $0.18 to $0.22. The token has consistently shown up in the top 10 list (by volume) on Stellarterm. This is of course due to the wonderful support that we have received from all of you.
A quick link to the GTN – 3 Layers of Demand on Insta and if you prefer more detailed notes, review the medium post.

Sorry Cryptoking1567, I disagree with your suggestion. The thought that the GLITZKOIN token price could significantly appreciate after the launch of the Diamond Exchange, seems logical but, nothing wrong with that. You talk of reckless speculation and I am against that too but, a jump in authentic demand for a crypto token is real - the price should reflect that. The GLITZKOIN project is clearly promoted as an industry specific blockchain application, the promoters should focus on improving the diamond industry. The behavior of the GLITZKOIN token at the stock exchange should be left alone. Basically your suggestion implies, slowing down the usage of the DiaEx just to ensure that, there is no sudden jump in the GTN token price. So you might be having some novel suggestion for the times when  the token goes down too In my opinion the demand for the token from the trade conducted on the diamond exchange, will far outstrip crypto world activity on the exchange. Just let it flow naturally, no need to control anything.

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After researching this project it does seem that you guys have at least 2 streams of potential demand for the GTN token. The crypto exchange activity is fine, much of the trading now is from crypto world participants I guess. But when you do launch the DiaEx diamond trading platform in the last Q2018, demand for the token could spike considerably. A sudden jump in GTN token prices might please some but, I prefer a gradual appreciation - just to keep reckless speculation away. It might be a good idea to build up the diamond list on the exchange, in steps - not all at a time. Saying this after I say this, info pic on your website.
https://glitzkoin.com/uploads/images/img_5b962d0392a562.19926723_gtn-token-stats-01-0802-update-01.jpg

The GLITZKOIN ICO successfully ended in mid-June 2018 but, that has not lowered interest in the GTN tokens. After staying updated about the brisk pace at which the development phase of DiaEx has been cruising, interest in GTN tokens has been steadily growing.

DiaEx is a state-of-the art diamond exchange aimed at improving efficiency, profitability and market scope for the multibillion dollar diamond industry. Buyers and sellers of all sizes and located at any point on the globe, can conduct their trade on the platform. DiaEx does much more than merely, bring traders together, the platform implements the GTN crypto token to settle payments. By eliminating middlemen and restricting listings to certified natural diamonds, the diamond exchange inspires confidence and reliability. International diamond trade can be conducted without, the obstacles that multiple currencies plays on payment procedures.

We have completed the first phase of DiaEx.
We have launched the Diamond Price Estimator, using which you will easily be able to get the market rate for your diamond.
Our algorithm takes into account multiple factors such as:
   * Shape
   * Size
   * Clarity
   * Color
   * Cut
   * Polish
   * Symmetry
   * Certification
With our tool, you can easily evaluate the value of your diamond and ensure that you are not duped when you go out to sell your diamond.


We will be posting more updates about the product on this thread.
Here is a quick guide to Buying GTN Tokens.