Centz is the world’s first gift card exchange that allows a user to collect all their balances into one spendable lump-sum that can be used to buy any other goods or services.
The CEO and Founder of Centz, Jon Bricken said, “Gift card balances are just deposits kept with one specific retailer that are ‘locked’ into place. We see this as an opportunity to unlock, or decouple, these funds and turn them into a universal form of currency, thereby using gift card balances in new and revolutionary ways.”
Centz developed their patent-pending platform to help people maximize their unused gift card balances, filing two patents to protect their business model, creating a unique blockchain-encrypted security system to prevent gift card fraud. Additional patents will secure the IP that surrounds and extends to the core technology.
Centz developed their technology to eliminate any retailer’s ability to take unspent balances. Bricken explains, “The gift card industry built gift cards to hide identities. Companies can’t take someone’s money if they know who they are, so Centz puts a known identity to each and every gift card which will be verified and locked into the blockchain. This will also eliminate fraud and money laundering, and stop retailers from taking consumers unspent balances.”
Centz has changed gift cards into a secure and mobile form of currency, represented by its own token, Centz Gold Bucks (CNTZ). Users can register all of their gift card balances on the Centz mobile wallet, enabling them to have their gift cards in their pockets at all times.
Centz is a Denmark based start-up that is partnering with OpenLedger to launch their ITO on 25 November. For more information visit https://centz.io/