We see that a lot of you have raised issues about our ability to create an exchange in the diamond industry which happens to be extremely conservative.
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.
Glitzkoin Team
Everyone here is talking about building their own resources to yell ... scam ... scam ... i understand nothing ... but i know that ... the we want the diamond trading platform ... you cannot stop them from yelling all over the world ... but you have a duty to maintain order here ... and keep updating us with the progress.
Its not so easy to penetrate and disrupt a rigid and highly regulated market like this one. Thats why the project, as bad as it may sound, will face a lot of problems before succeeding.