Glance Technologies Inc., a Vancouver based company have announced plans to launch a blockchain-based rewards platform.
Glance Technologies blockchain solution is delivered via three elements:
- Glance Pay: an app which allows users settle their bills, earn rewards, utilize promotions, and track expenses.
- Glance Merchant: an app which allows merchants to accept mobile payments instantly, provide loyalty & incentives and view analytics
- GlanceCoin: the cryptotoken which can be used by both apps to simplify and enable the adoption of blockchain loyalty
Members will be able to earn GlanceCoin with participating retailers, then redeem for a discount on a future purchase.
GlanceCoin will be an Ethereum ERC-20 token. One hundred million will be created with a base price of one cent. The whitepaper does not yet indicate how many will be sold at ICO, simply that ‘Glance Technologies is considering a potential token offering, subject to compliance with applicable securities laws.’
GlanceCoin may have an advantage over other blockchain loyalty companies because they have existing merchant relationships with their Glance Pay solution. This will likely help them scale the uptake of GlanceCoin to drive buy demand on exchanges, the critical ingredient for a successful crypto program.
Philip Shelper is a specialist loyalty consultant based in Sydney, Australia who obsesses about everything to do with loyalty and rewards. His company Loyalty & Reward Co are a leading loyalty consulting firm.
Phil is the author of “Blockchain Loyalty: Disrupting loyalty and reinventing marketing using cryptocurrencies.”
www.blockchainloyalty.io is a global resource centre for everything blockchain loyalty.
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