Centz, a new platform that allows users to convert gift cards to Cash has joined forces with OpenLedger. The Centz ICO crowdfund, kicking off in November was announced together with an early bird offer on the news site Forbes and on the conference Money20/20 in Las Vegas, Nevada.
A new startup, called Centz, has vowed to disrupt the global gift card industry at the Money 2020 and Coin Agenda trade shows in Las Vegas, USA. Centz aims to give consumers control of their gift cards by combining all their gift card balances into a single lump sum. This sum is denominated in their digital currency, called ‘Centz Gold Bucks’ (CGBs). Consumers can then spend Centz Gold Bucks at will, whenever you want and wherever gift cards are accepted. Centz aims to use this technology to give customers control over their gift cards. Centz President, Swen Swenson, describes his vision:
“Perhaps the biggest change in gift-giving is the rise of the virtual gift, in the form of e-gift cards. These transactions will be conducted online and new forms of delivery and security will need to be implemented as users find new ways to use gift cards. Through our mobile wallet and gift card interchanging service, Centz will position itself at the forefront of the e-gift card industry.”
Huge numbers of cards go unused. According to a Blackhawk Network survey, 53% of shoppers receive cards and forget about them. 26% of shoppers receive cards for merchants that they don’t use. American households have $300 dollars of unspent gift cards on average.
For Centz, the $160 billion dollars in American 2016 gift card sales ($435 million dollars per day) is ready for innovation. Consumers bought over two billion gift cards last year alone, equalling 6 cards for every man, woman and child in America. Up to 20% in 2016 totalling $34 billion will never be used. There’s an estimated $80 Billion of unspent gift cards in people’s junk drawers, an amount that’s growing daily when combined with the industry’s 6% on annual growth rate.
By giving consumers a mobile wallet for their gift cards they’ll always have their money on their cellphone. They’ll be able to spend gift card money anytime, anywhere. Consumers will be able to easily transfer them to friends and family, setting the stage for an explosion in e-gift card giving.
Centz has partnered with the OpenLedger decentralized conglomerate to launch their first Initial Coin Offering (ICO). The ICO, open both to the public and investors, will raise money for development. OpenLedger is offering investors the chance to pre-invest ahead of the public ICO, and to trade the Centz token on their decentralized exchange platform.
Ronny Boesing, CEO of OpenLedger said his partnership with Centz:
“The long-term goals for OpenLedger is to be a major incubator and funding platform for tech start-ups. Our partnership with Centz reflects our dedication to expanding the crowdfunding industry, one disruptive business at a time.”
The Centz ICO is set to begin Q4 2016. Pre-investment opportunities for institutions and investors are available through Ronny Boesing and OpenLedger.
About Centz & OpenLedger
Centz is a new startup aiming to disrupt the multi-billion dollar gift card industry. They’re partnering with the OpenLedger decentralized conglomerate. The OpenLedger ecosystem includes advertising, trading, blockchain talent, and ICO marketing subsidiaries dedicated to one goal: Crowdfunding the future of startup businesses.
OpenLedger is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
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