Doing Business On DiaEx Can Lower Operational Costs
Blockchain technology is fairly new, designing, developing and implementing a blockchain applications is understandably an expensive affair. It might therefore appear strange if we told you that, doing business on the DiaEx blockchain based diamond exchange would be economical. The information compiled in this report should make things clearer.
As a part of the Glitzkoin diamond blockchain project, the DiaEx diamond exchange facilitates B2B and B2C trade in the precious stone. The location or size of buyers and sellers becomes irrelevant, participants interact directly on the platform without the need for middlemen.
The important thing is that, Glitzkoin has already borne all the costs related to the development and implementation phase. Since the project is the brainchild of a second generation diamond veteran, the features incorporated into the DiaEx platform are focused on improving the market scope for diamonds.
The diamond exchange will be actively promoted both, to buyers and sellers of diamonds. Traders will be able to access an entirely new set of buyers through listings made on the diamond exchange. Conventional diamond trade is conducted through a chain of brokers (middlemen), the original price as fixed by the seller is cloaked. Buyers end up paying a much higher price for the diamonds that they buy.
So what we have here is a ready market place for natural and certified diamonds. Also a platform that is professionally promoted to draw both professional and casual diamond traders. And what exactly are the costs involved for buyers and sellers, keep reading to get all the details.
Sellers trading on the DiaEx platform, are required to pay a onetime refundable deposit of $1,000. On completing a sale, the buyer and seller are charged a 0.50% commission (each) on the value of the transaction. The revenue collected goes to maintain the system and perform upgrades as and when necessary. Very economical indeed if you compare, this to opening multiple trading offices and spending funds on the marketing aspect of the business.
Trade in diamonds does not end with the buyer and seller merely agreeing to make a transaction, payment settlement is an important part of the transaction. The banking system requires lengthy procedures to be followed, bank fees can also add a significant cost to the transaction. Though it is the buyer, who has to go through this ordeal, the seller will need to factor those into the price set for a diamond.
The Glitzkoin project, uses blockchain technology to free traders from the shackles of the banking system. The GTN crypto token is used to settle payments, the cost of payment is extremely low, the time required to complete the transaction very small.
It would be fair to say that the DiaEx diamond trading platform, will allow traders of all sizes and irrespective of their geographical location to conduct their business with minimum investment. Listing of diamonds cost nothing and the 0.50% transaction fee is collected only, on successful completion of a transaction.