GLANCE TECHNOLOGIE (OTCMKTS:GLNNF) was a recent buy-the-dip opportunity that continues to pay off handsomely as a core crossover play connecting the raging themes of cannabis and cryptocurrency. GLNNF continues to put the pressure on remaining shorts with its newest move: it intends to create a new cryptocurrency whereby customers can earn cryptocurrency every time they pay with the Glance Pay app.
According to the release, the Glance cryptocurrency may be used throughout the Glance Pay app and its affiliated applications, as well as outside of the Glance Pay platform. “Users of the Glance Pay mobile payment app will earn the new cryptocurrency as rewards every time they spend on the Glance Pay mobile payment network, whether they have paid with the new cryptocurrency or via other payment methods. Glance believes this will support rapid adoption of the cryptocurrency to a broad range of consumers, and it will often be the first cryptocurrency Glance Pay users will have ever received or used.”
GLANCE TECHNOLOGIE COM NPV (OTCMKTS:GLNNF) bills itself as a company that owns and operates Glance Pay, a streamlined payment system that allows customers to pay their restaurant bill instantly with their mobile device and that combines in-app messaging with social media marketing.
Glance Pay revolutionizes how smartphone users choose where to dine, settle their restaurant bills, access their payment records and interact with their favorite restaurants.
Glance Pay intends to become the industry standard as one of the four pillars in restaurant payments, besides credit cards, debit cards, and cash. Glance is building a valuable network of restaurants and consumers and offers targeted in-app marketing, customer feedback, in restaurant messaging, custom rewards programs, search engine optimization and social media promotions and management for restaurants.
According to company materials, “Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order food & drink, settle bills, access digital receipts, earn great rewards, & interact with merchants. Glance is building a valuable network of merchants and consumers and offers targeted in-app marketing, social media marketing, customer feedback, in-merchant messaging and custom rewards programs. The Glance Pay mobile payment system consists of proprietary technology, which includes user apps available for free downloads in IOS (Apple) and Android formats, a merchant manager apps, large-scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing.”
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As noted above, the company is diving deeper into the cryptocurrency mania by moving forward with its own coin – and one that looks slated as a viral strategy driven by monetary incentivization for platform adoption. The reasoning is obvious: get more folks into the Glance interface and simultaneously establish more of a sticky network in the coin.
According to the release, as an indication of how quickly cryptocurrencies are growing, the price of Bitcoin has risen over 700% to a market cap in excess of $100 Billion USD and the price of Ether has risen over 2,500% to a market cap greater than $29 Billion in the past 12 months respectively, according to CoinMarketCap.com.
“We believe that there is an enormous potential for cryptocurrencies to change the payments and rewards landscape,” says Glance CTO Angela Griffin, “We are excited to leverage blockchain technology to disrupt the global payments industry with our proven mobile payment and anti-fraud technologies.”
Glance is continuing to expand its development team and technical capabilities, which has been accelerated due its recent funding success. Glance currently has over $9.4 million in the bank. Glance Pay has previous added cryptocurrency experts Spiros Margaris (rated #10 blockchain influencer in the world, and #1 fintech influencer), Michael Vogel and Dominic Vogel to its advisory board as well as entering into an alliance with Netcoins Inc. Glance is investing resources to continue to expand its capabilities on this front.
According to the release, Glance is currently working on its technical design and a working paper for the launch of its rewards-based cryptocurrency. It also continues to review other blockchain opportunities.
Earning a current market cap value of $76.9M, GLNNF has nearly $800K in cash on the books showing in its recent filings, which compares with about $162k in total current liabilities. The company has pulled in just shy of $100K in total trailing twelve-month sales, with sharp topline growth in the works as well. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $GLNNF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $GLNNF, either long or short, and we have not been compensated for this article.