Will The GTN Crypto Token Be Accepted By The Diamond Industry
The Glitzkoin diamond blockchain project was in a way, conceived by the diamond industry. Second generation diamond veteran Navneet Goenka CEO of Glitzkoin remains convinced that, it is only technology that can pull the glittering industry out from the brink of stagnation.
Aimed at improving the efficiency and market scope for the industry, the Glitzkoin project includes a comprehensive diamond exchange nicknamed, DiaEx. The platform supports B2B and B2C trade, features have been incorporated to ensure the integrity and reliability of the platform.
It is important to understand the strategic role assigned to the GTN crypto token. Glitzkoin launched the GTN token as part of the project. The DiaEx diamond exchange, uses the GTN token to settle payments and this, puts an end to cumbersome and expensive bank procedures.
Glitzkoin has been one of the earliest projects to focus on real world business. The crypto community was quick to realize that this, would begin a new trend. The ICO for the project was successfully completed in June 2018 (ICO price $0.20), with the active support of seasoned crypto traders. The fact that the GTN token would be used as a mode of payment on the DiaEx platfrom, pulled in significant crypto space interest.
The DiaEx diamond exchange is scheduled to be implemented in the last quarter of 2018. Crypto investors continue their support and have, one important question in mind - will the diamond industry accept the GTN crypto, as a mode of payment to settle trade transactions. The answer is a loud ‘YES’, but requires some clear explanations.
Unlike most blockchain projects that are conceptualized in the minds of tech gurus, Glitzkoin literally took shape from the corridors of the multibillion dollar diamond industry. The project promoters are well aware of the inefficiencies and potential that exist within the business.
It has always been the desire of diamond traders to have, access to a payment mode that would not involve the banking system. Lengthy and expensive banking procedures add time and costs to the business process. The choice of blockchain technology was specifically made as this, would facilitate the implementation of a crypto currency. To put it simply, the GTN token as a mode of payment on the DiaEx exchange is there because, it fulfills a long standing desire of the diamond industry.
Read the above report and you will realize why, the diamond community will have no problems accepting the DiaEx trading platform and the GTN token as a mode of payment. The DiaEx exchange is the final stages of testing, the Q4 launch in 2018 is right on track. In the meantime, it might be interesting to take a look at what is happening to the GTN crypto token.
So what is the present position of the Glitzkoin GTN token. The ICO price was fixed at $0.20 and the ICO was completed in June 2018. Since the Glitzkoin project is based on the Stellar blockchain, the token was listed on Stellar exchanges in July 2018. This as the project moved into the development phase. With exemplary support from seasoned crypto enthusiasts, the GTN token has maintained an impressive price range of $0.18 to $0.23. View this in the scenario where, most of the crypto tokens launched during the same time, lost upto 70% of their ICO value – after being traded for a couple of weeks. End of October 2018 at the time of compiling this report, the GTN token continues to hold its price at the above range.