Centz, Gift Cards and the Blockchain

bloggersclub (65)in #blockchain • 8 years ago (edited)

Centz has constructed its business model using the blockchain to apply patent pending technologies that decouple gift card balances utilizing its own digital token called Centz Gold Bucks.

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One of Centz’s long term goals is to forge Gold Bucks into a stand-alone cryptocurrency that will be traded as an valuable asset itself while being utilized for all kinds of stored value transfers.

To reach that pivot point, Centz is constructing the most efficient gift card registration and trading platform in the world.

Registering all individual identities and gift card balances on the blockchain eliminates the biggest problems and restrictions for the safe and secure use of gift cards. Concurrently, Centz will disrupt the gift card market leveraging the blockchain to generate revenue in ways that have never been done before.

Using the blockchain totally eliminates any retailer’s ability to grab unspent balances which is called “breakage”. You can’t take someone’s money if you know who they are, that’s illegal. The entire gift card business is set up to hide identities in order to keep breakage flowing. The industry has purposely ignored all the negative customer experiences so they may continue to take “free” money. Last year $160 BILLION of gift cards were sold in the US alone. 20% of the total goes unused. That’s $32 Billion, which cannot be confiscated when we apply the Centz blockchain solutions.

Shopping data will be derived from our gift card registration platform. This data will be used to increase the effectiveness of advertising by retailers and increase their sales. This shopping data becomes more valuable to retailers because of the overspend dynamic; when people shop using gift cards they spend an average of 38% more than the face value of the credit.

Blockchain technology allows Centz to deliver cutting edge security to totally eliminate fraud and money laundering. Similar to credit cards, the % of fraudulent activity is on the rise which ruins the shopping experience for all. Our proprietary blockchain solutions will be adopted by the retail industry once breakage is eliminated. Partnering with Centz is the only way that the industry can “make up” for the lost funds of breakage.

Currently the industry pays 4 ½% to both the issuer and seller of gift cards. Centz will provide both of these functions together more efficiently and at lower cost by issuing totally safe egift cards securely locked on to our blockchain.

As the shift to online, storage, sales and delivery of egift cards increases, the Centz wallet will become the only option which combines gift, reward, loyalty and coupon credits in one place, so they are always available for immediate use.

Centz will become the dominant player in each of these markets, generating billions of dollars of revenue before the competition realizes what we have created and achieved; yet this will only represent a drop in the bucket as we totally decouple all monetary credits from gift cards.

Inevitability Centz will forge Gold Bucks into a totally independent cryptocurrency. It will be tradable on many different exchanges worldwide, backed by the value of gift cards, and protected by our use of the blockchain. This cryptocurrency will be extremely stable and secure as the supply of Gold Bucks increases into the billions of dollars, something we see lacking with most other virtual monies.

Centz’s vision is one where we see the true potential of gift cards by combining the use of the blockchain, which will enable Centz to revolutionize the payment industry in ways that are unimagined today by this sleepy and forgotten industry.