Blockchain Technology, Expanding Diamond Markets

I have always maintained that the diamond industry has scope for growth. The extravagant look and glitter of this 90 billion dollar industry, cloaks systems and procedures that are inefficient and unproductive. For example, the practice of trading through brokers increases the price of diamonds without, making any value added contribution. The presence of a grey market, where diamonds are wrongly graded and sometimes fake, keeps many diamond lovers away. The distributed ledger concept of blockchain combined with the possibility of handling payments through digital currencies, holds promise for diamond trade. The GLITZKOIN project is geared to implement a blockchain based diamond trading platform. The project plan includes the deployment of a crypto currency that would be used to process payments. Diamond buyers and sellers will be able to interact directly with each other eliminating the need for brokers. The GLITZKOIN Report, provides essential information on this topic.