The Money 2020 and CoinAgenda trade shows organized this year at Las Vegas gave attendees an in-depth outlook into the world of cryptocurrencies. The conference which was primarily aimed at bringing traditional investors and experienced cryptocurrency and blockchain professionals together saw many important announcements.
Unarguably, among the most interesting initiatives was Centz and its announcement that it would team up with OpenLedger to launch its disruptive gift card platform. Ron Boesing, CEO of OpenLedger revealed that future plans for OpenLedger include token crowd sales of three cryptocurrency startups, one of which will be Centz.
The Centz initiative is headed by Columbia University alum, Swen Swenson and it surely looks to be a promising raise. Let’s take a deeper look at how Centz can impact the gift card industry.
Blockchain of Gift card money
Centz aims at giving consumers full control of their gift cards by summing all card balances for flexible use. The balances would be stored in a digital currency called ‘Centz Gold Bucks’ (CGB’s). This will break traditional rules associated with existing gift cards by allowing users to transfer balances or even use them as fiat currencies.
For managing CGB’s, Centz will be utilizing a decentralized blockchain set up to support the network of payments.
Centz’s token crowd sale is very promising
During an interview at CoinAgenda, Ron explained how token crowd sales have an inherent advantage over traditional IPOs. While IPOs require just investing in a particular asset and waiting for fruition, token crowd sales with OpenLedger buy you value and also provide you with exit options in different ways. The Centz ICO, which is expected to commence during the end of November or early December is in pre-ICO and, is open to both the public and institutional investors. Early investors will recieve benefits that are yet to be determined. You can sign up to be an early investor here.
— Centz.net (@GetCentz) October 25, 2016
OpenLedger is also offering investors the chance to pre-invest ahead of the public ICO by taking part in an early bird offer. As hinted earlier, investors will be able to trade CGB’s on the platform, providing them with easy exit options.
Ronny Boesing, CEO of OpenLedger said:
“Our partnership with Centz reflects our dedication to expanding the crowdfunding industry, one disruptive business at a time. Our long-term goal is to be a major incubator and funding platform for tech start-ups.”
Technical Vision moving forward
The firm has recently filed for patents over technologies that would make this network secure. The patents include a multi-stage security system, which would help them eliminate gift card fraud. The other patent revolves around their mobile wallet which would facilitate easy transfers.
The Centz gift card system takes control of each and every gift card credit and provides it with digital encryption for security. This way Centz looks to combat fraud and ensure security at the same time.