What is GlitzKoin (GTN)?
GlitzKoin is a platform that utilizes the latest cutting-edge technology, including blockchain, smart contracts, and machine learning. It aims to lessen risk and fraud for financial institutions, insurance companies, and open markets related to diamonds and other precious stones. They offer a complete system for the diamond industry from supply chain management to monitoring & validation of diamonds, as well as a decentralized exchange for trading diamonds and related services.
The platform has included the most up-to-date blockchain technology in the diamond industry's supply chain. This creates a new system to conduct international diamond trading. As well as lowering fees associated with transactions, GlitzKoin eliminates the problems that come with paper-based transaction processing. It also implements additional advanced features that give an extremely intricate and detailed capability for tracing and monitoring diamonds. The goal is to decentralize the market for diamonds, allowing more buyers and sellers to access it easily. Other services like shipping, banking, and insurance are necessary for the diamond trade too.
The GlitzKoin Decentralized Exchange is a revolutionary platform that utilizes machine-learning algorithms to bring clarity and consistency to the international diamond markets. It has three main parts:
- Gem Composite, which evaluates a diamond's gemological excellence;
- Parallel Composite, which gauges the rarity of certain types of diamonds;
- Indices Composite, which offers traders insights into market trends in diamonds.
Diamonds uploaded to this exchange must go through the registration before being categorized by type. This system also applies artificial neural network technology based on all available data on diamonds.
The GTN crypto token is the native utility token of the platform. Care to see the current GTN price? Check out the live GlitzKoin price chart above.
Use Cases of GTN Tokens
The major use of the GTN token on the platform is to cover transaction fees for all transactions carried out on the platform. These transactions range from uploading diamonds, certifying those diamonds, and selling or buying from other users.
Though GTN coin is also used to cover smart contract fees needed for certain transactions on GlitzKoin.
To know how much these would cost, you can begin your research by checking the current and the previous GTN price. Overall, if you plan to invest in the project, knowing the main movements in the GlitzKoin price would be beneficial.
Who Founded GlitzKoin?
The GlitzKoin crypto project was founded by Navneet Goenka. Navneet has been in the diamond industry for two decades and is well-versed in the operations of its $90 billion market. As CEO, Navneet leads the GlitzKoin project to introduce the changes to the diamond industry.
Navneet is also accompanied by Lila Hussain, the head of business development with 23 years of expertise in providing financial, strategic, and operational leadership. She worked as a general manager for 14 years at Lima Airshow. Aside from her professional life, she takes part in a lot of social work and sits on various boards related to Human Rights and Women's Entrepreneurship organizations.
Shashank Agarwal is also a part of the leading team as head of technology. He holds 10+ years of experience in technology industries worldwide (UK, UAE & India), along with qualifications such as engineering and an MBA from Imperial College London.
The team is advised by reputable individuals like Mikhail Kozlov and Datuk Mat Rabi Abu Samah.
GTN Tokenomics
As of January 2023, the total supply of GTN tokens is around 999 million. From this number, 35% has been allocated to the company, 20% reserved for the community, 25% for the token sale, and another 25% for market making. These tokens are being released carefully over a period of time to help maintain GlitzKoin price stability and the integrity of the system.
