Glance Technologies Announces Increased Investment into Cryptocurrency Space

Glance Technologies (CSE:GET; OTCQB:GLNNF) has announced it is researching a rewards-based cryptocurrency for use with its mobile payment platform.
As quoted in the press release:

“We believe that there is an opportunity in the payment space for a cryptocurrency that can facilitate rewards and promotions,” says Glance CEO Desmond Griffin, “The new cryptocurrency frameworks are highly flexible and we believe they can be used to fundamentally change how rewards and promotions are used.”

According to an article in Fortune.com on June 26, 2017, digital currencies are in the midst of an epic explosion and as much as $6.6 billion in digital tokens changes hands every day, and even mainstream players such as Goldman Sachs , Visa, Capital One, Nasdaq, and the New York Stock Exchange have invested in the underlying technology.

A cryptocurrency may be redeemable through the Glance Pay app and its affiliates and eventually potentially outside of the Glance Pay platform.  Rewards may accrue through usage of the app or via other events that trigger rewards or promotions.

Glance currently uses two forms of credits through its Glance Pay application which users can use instead of fiat currency throughout the Glance Pay mobile payment network.   Users can now receive Glance Dollars which may be used at any merchant on the Glance Pay network, and they may also accumulate Merchant Dollars whereby a customer accumulates merchant dollars which are redeemable at a particular merchant by spending money at that merchant using the Glance Pay application.   Glance is now considering how this can be built on and approved by a cryptocurrency.

Click here to read the full press release.