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This start up is about to revolutionize how billions in retail dollars are spent

The gift card problem

“After carefully studying the gift card industry it has become clearly evident that it is time that new technology be utilized to enhance the customer experience. Perhaps the biggest change in gift-giving is the rise of the virtual gift, in the form of e-gift cards. These transactions will all be conducted online and new forms of delivery and security will need to be implemented as recipients find new ways to use the gift cards.” Centz President, Swen Swenson

The Gift card industry has traditionally positioned itself as another marketing channel that merchant’s use to increase sales at very little expense. They are often sold to consumers, offering them different denominations and promoting them as great gift ideas. Most gift card holders do not pay enough attention to the stored value on their cards and many times vendors count on consumers to either lose them or not use the full amount, leaving the retailer with increased profits and the consumer with diminished value. This is why Centz is launching a multi-faceted disruptive business model that will radically change the gift card issuing and redemption marketplaces.

The gift card market

The Gift Card Market

The Gift Card industry is huge and is estimated to have a market cap of around $160 Billion. Last year alone, over 2 Billion gift cards were purchased  in the USA, which tallies it to 6 gift cards per person. With an estimated $435 million in transactions forecasted for gift cards every day, the coming year looks promising for the industry. Historically the industry counts on 20% of gift cards (roughly equivalent to $34 billion) to be left unused.

Popular Gift Card Types

Centz’s gift card solution

Understanding the potential of this market, Crypto startup Centz is looking to provide gift card holders with the option to make them fungible. The average US household has $300 in gift cards that remain unused owing to various constraints. Centz aims to give the consumers complete control over their gift cards by letting balances be transferred.

Centz's gift card solution

Roger Aitken, a Forbes contributor recently had this to say about Centz technology in his piece titled: Disruptive ‘Crypto’ Startup Centz Eyes $160Bn Gift Cards Market

The start-up firm’s patent-pending technologies include a multi-stage security system, which is part of their ‘secret sauce designed to eliminate gift card fraud, and a gift card mobile wallet. By combining these technologies Centz provides consumers what it touts as “control over their gift cards”.

Effectively, the Centz gift card multi-stage fraud and security system takes control of each and every credit and employs digital encryption for security. On top of that, Centz utilizes what is dubbed a unique “machine learning layer” as part of the protocol.

As regards Centz developing a digital wallet, this will enable users to store all their digital credits in one place. More importantly, it is claimed that this ensures that the consumer never leaves their digital credits behind. Centz is pairing their “disruptive vision” with future gift-giving from day one.

How Centz works

Swen Swenson, President of Centz described the vision as follows:

“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.”

Banking on the decentralized network, Centz is introducing a digital currency: Centz Gold Bucks (CGB’s) to facilitate its services.  The platform enables the consumers to combine all the gift cards into one single lump that can be stored as Centz Gold Bucks (CGB’s). Through CGB’s consumers will be able to spend their gift card money easily whenever they want at places where gift cards are used. This is basically letting consumers use any gift card balance as they would with  traditional currency, aka fiat.

The venture has already filed two patents around the modus operandi of the network and its security. How this unique innovation shapes up to disrupt the gift card industry will be an interesting journey to watch.

Participate in the Centz token crowd sale

Centz token crowd sale

In the new age of digital currency, crowd-funding has become easier than ever before so for this purpose Centz  has teamed up with OpenLedger for their highly anticipated token crowd sale. OpenLedger makes this possible through blockchain technology, smart investments and the good will of people. If you would like to stay informed or participate in the token crowd sale, you can sign up here:  Centz ICO coming soonThere will be an Early Bird Special buy-in for those who do.

Get Centz! Intro Video

From ICO’s to OpenLedger’s plans: Ron Boesing opens up at CoinAgenda 2016

Las Vegas recently hosted CoinAgenda 2016. It is a conference for both the mainstream who are new to Bitcoin and Blockchain investments and experienced investors in digital and blockchain assets to come together. In this edition, Ron Boesing, CEO of OpenLedger and Bitcoin exchange CCEDK revealed the future plans for OpenLedger. From a successful career in the music industry to a switch to digital asset based investments, Ron has been relentless. Let’s look into the key takeaways from the interview:

The majronny_boesingor switch

Ron Boesing was in the music industry for about 25 years. The financial crisis of 2008-09 hit the music industry hard leading to the closure of Ron’s record company. After two years of contemplation, Ron went back to college to take a bachelors course in ‘Export Technology Management’. In late 2014, he actually came in contact with Bitcoin and an old friend proposed the idea of establishing an exchange. In collaboration, they launched the first Bitcoin exchange out of Denmark (CCEDK). During the course of his cryptocurrency ventures, Ron fondly recollects that the journey was a continuous learning curve.

Currently OpenLedger has completed a year slowly phasing out CCEDK as planned. The idea was to make OpenLedger the gateway for fiat and cryptocurrency making it a decentralized exchange.

Traditional IPO vs ICO


When asked about how these ICO’s would differ from traditional IPO’s, Ron made it very clear that in ICO’s, the investors have an easy exit option. This means apart from investing, there is an option to move the funds from one cryptocurrency to another as a backup contingency. Ron explained that unlike other ICOs this doesn’t require a crowdfunding investment. It rather revolves around only investing in ICO’s and gaining the privileges. With the facility to the move the funds around, Ron believes it would resemble a cryptocurrency index.

OpenLedger’s ICOs

Talking about the token sale of the projects OpenLedger would be associated with, Ron gave preliminary information about the same:

Beyond The Void:  This would be OpenLedgers collaboration with gaming industry. The tokens can be ordered on OpenLedger or directly from Beyond The Void.

Centz: Centz enables full control over individual’s Gift Card Money via OpenLedger ICO. This would essentially allow for transfer and buying of requisite Gift Cards suitable for individual’s occasion.

Apptrade: This has an entirely new approach to developing and managing next generation of mobile apps. The underlying idea behind this is to create a ‘Stock Market of Apps

With so many interesting prospects coming up, Ron looks hopeful about OpenLedger’s chances at enabling complete decentralization.