If you read the reports the long answer is within
-The technology, how the money is spent, or coins.
-Bitcoin has about 100,000 or so merchants of over a possible 200 million worldwide. So they are worth a ton, but there is a ton, ton more of the pie left on the table. 100K businesses isnt close to 200 million businesses in the world, and bitcoin has its limits and warts, ie hacked
-If you read the reports, the long goal is to speed up the transactions at reduced costs with fraud protection and rewards while driving clients to business partners. The long term goal is not only the merchants accept the coin while saving the consumer money while preventing fraud, but the coins can be TRADED instantly for other coins, like bitcoin, or etherum, or whatever the client / merchant wants.
-Glance intends to integrate elements of the Blockimpact technology into its existing Glance Pay platform by a
combination of using its internal development team as well as some external consultants that were involved in the
creation of the Blockimpact platform. There may be significant modifications to the technology to make it
appropriate for the envisioned rewards based cryptocurrency and its utilization within the Glance Pay platform.
Glance intends to create a rewards based cryptocurrency that will be given out as rewards for purchases conducted
via the Glance Pay platform by Glance and likely by some merchants that utilize the Glance Pay platform. These
rewards in the form of a cryptocurrency will then likely be able to be redeemed within the Glance Pay platform. It
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is envisioned that the cryptocurrency may also potentially be exchanged for other currencies. Going forward, this
technology should generally expand Glance’s capabilities with blockchain technology to enable it to take advantage
of future opportunities related to blockchain technology, should they arise.
Glance uses two forms of credit through the Glance Pay application which users can use instead of fiat currency
through the Glance Pay mobile payment network. Users can receive Glance Dollars which may be used at any
merchant on the Glance Pay network, they can also accumulate merchant dollars, redeemable at a particular
merchant by spending money at that merchant using the Glance Pay application.
Glance’s strategy is to rapidly adopt a cryptocurrency to be used instead of the Glance Dollars which will be offered
to a broad range of consumers, although the application will also be marketed to cryptocurrency users in leading
urban centers. Tokens will be granted as a reward to users of the Glance Pay mobile payment application. We are
currently working with experienced cryptocurrency teams to assist in the development of the creation of a new
rewards-based cryptocurrency to be integrated with the Glance Pay mobile payment network. Any offering of
tokens will be subject to regulatory review and advice.
The time frame for the adoption of Glance’s rewards-based cryptocurrency is currently indeterminable, as it depends
on the time it will take for Glance to complete the development of the cryptocurrency and to integrate it with the
Glance Pay mobile payment network. Glance’s goal is to have it fully implemented by April 2018. The exact cost
of development and implementation is also indeterminable but we estimate it will be approximately $1,000,000.
