The so called crypto world is fast expanding, this mainly due to the increased awareness about blockchain and cryptocurrency. When you talk about an industry specific blockchain project, GLITZKOIN is a good example. The project is on course to implementing a diamond blockchain, the crypto currency plays an important role in the plan. The team consists of top talent from the diamond and blockchain sectors. The move to move up Navneet Goenka a second generation diamond veteran, from the advisory post to become the CEO - is a master move.
Interestingly it was Navneet who had played a prominent role in identifying the underlying weaknesses in the 90 billion dollar diamond industry. Friends from the Stamford University who had been part of the development team, for the Stellar blockchain discussed the possibility of applying this new technology to improve efficiency in the glittering industry. Overpricing of diamonds brought about by multiple brokerage fees and commissions, wrongly selling fake stones as real diamonds, misrepresentation of stone features - these are problems that have dominated diamond trade for decades. Navneet Goenka was convinced that blockchain technology had a solution to these problems, this made him accept the advisory post at GLITZKOIN.
And why was the move to move Navneet to CEO post made, we got a very logical answer for this question. The diamond industry is very averse to change and when this, change is recommended by an 'outsider', the industry just shuts its mind to the idea. In this scenario, you are left with a powerful technology that has the potential to revolutionize the diamond industry, on the other hand you have an industry that is unwilling to change.
With the diamond veteran heading the GLITZKOIN diamond blockchain project, the industry sees their man at the top. A more positive mindset unfolds although, significant hand holding still needs to be done. Navneet Goenka plays the vital bridge between technology and the industry.
In Navneet's words '.... the utility of technology is more important than, the hardware, software and techno heads that operate it. Blockchain technology is powerful, crypto currencies can allow the diamond industry to operate without being constantly bullied by the banking system. We need to reach out to the industry, left to its own the diamond industry could operate in its own inefficient way, for another century or more...'.
It would not be wrong to say that the GLITZKOIN project is the first diamond blockchain to be headed by a diamond veteran. Apparently the move to push Navneet Goenka up the management cadre is not the only change being made to the team. Experts from the technology and diamond industry are constantly being handpicked to expand the team. Things look good for the project and for the multi billion dollar industry.
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