Glitzkoin Team Russian Expert Mikhail Kozlov - The DiaEx Exchange

Russian business expert Mikhail Kozlov, has been closely associated with the development of the DiaEx diamond exchange platform. As a senior expert on the Glitzkoin team, Mikhail is convinced that the DiaEx exchange would benefit

Russian diamond traders.

In his words, ‘… Russia has been at the forefront of developmental work related to blockchain and cryptocurrencies. We have a huge resource of talent, literacy in blockchain technology is growing at an impressive rate. We should be in a position to draw economic benefits, from the DiaEx diamond exchange’.

Mikhail Koslov is no stranger to the Russian economy, he has at one time run for the Russian Presidential post against Vladimir Putin. Diamond mines in Russia provide a significant portion of rough diamonds to the world. While it is true that the DiaEx in its present form does not support trade in rough diamonds, the Russian community can open up markets for cut and polished diamonds through the DiaEx platform.

One of the biggest advantages of operating on the Glitzkoin diamond exchange is that, the costs of operation are minimal. The absence of middlemen and brokers ensures that, buyers get a more realistic price point for the diamonds that they buy. The 0.5% fee is charged only for successful transactions, these funds go towards maintaining, developing and promoting the DiaEx platform. Russian diamond traders will save a substantial amount on advertising and promotion, something that the Glitzkoin project promoters will take care of.

Going on to talk about the rather sluggish demand for the glittering stone in recent years, Mikhail Kozlov added, ‘… there are many reasons for the lowered demand for diamonds. Uncertain economic conditions in many nations, the growing interest in natural colored gems etc. Prospective diamond buyers often feel that they are being overcharged for their diamonds. This could be due to the price inflation triggered by a trail of middlemen in the supply chain. The fear of getting a synthetic or fake diamond, keeps many interested diamond lovers away’.

The Russian biz expert mentioned that, being promoted by a diamond veteran meant that, the Glitzkoin project was conceptualized to make a positive impact on the multibillion dollar diamond industry. CEO Navneet Goenka has reiterated on a number of platforms that, there will be no room for trading in synthetic and fake diamonds on DiaEx.

The DiaEx diamond exchange will boost buyer confidence at all levels B2B and B2C. Mikhail Kozlov pointed out that, ‘… it is only diamonds that are certified by globally recognized testing labs that, will be listed on the exchange. This obviously rules out fakes and synthetics, it also ensures that the 4C (color, cut, carat and clarity) parameters of a diamond are, assessed accurately and in an unbiased manner’.

The widespread use of the U.S dollar in international trade has often worried Russia. The Glitzkoin Russian expert pointed out that, that payments for trade conducted on the DiaEx platform would be settled, using the GTN crypto token.

The process would be quicker and cost significantly less than, regular banking procedures. By inducting a crypto currency on the trading platform, Glitzkoin has also put an end to logistics related to multiple currencies and their conversion.

Mikhail Kozlov summed up his opinion by referring to the vastly untapped international market for diamonds that, the DiaEx diamond exchange could open up. The Russian diamond industry should explore the platform and learn how to interact directly with consumers without, going through a whole chain of middlemen – this was his message to the glittering industry.


Related Resources [DiaEx Updates] [Glitzkoin Infopedia]