Ziftr is an internet browser add-on that helps users find lower prices for items they want to purchase online. In November, Ziftr plans to expand their business model by launching their own altcoin, ziftrCOIN, and giving 100 coins to 1 million customers. Ziftr believes it…
Ziftr is an internet browser add-on that helps users find lower prices for items they want to purchase online. In November, Ziftr plans to expand their business model by launching their own altcoin, ziftrCOIN, and giving 100 coins to 1 million customers. Ziftr believes it can leverage its position to entice both shoppers and retailers to adopt ziftrCOIN.
CCN spoke with Chris Dunleavy, digital marketing strategist for Ziftr, about ziftrCOIN and Ziftr’s plan to make crypto-commerce mainstream.
What is Ziftr?
Ziftr is revolutionizing the online shopping experience. Our goal is to simplify the lives of both our consumers and our retailers through the development of our suite of products, fondly referred to as the Ziftrverse. It includes our Ziftr® Browser Add-On and Mobile App, which sift through hundreds of thousands of different retailers online (along with millions of product transactions) in order to give you the best price for all of your favorite products across top retailers. We were established back in 2008 and currently have a 35-member team of experienced developers, sales, marketing, and design professionals working out of our offices in Milford, NH.
What is ziftrCOIN and what role will it play in the Ziftr ecosystem?
The goal of ziftrCOIN is to revolutionize online shopping by putting cryptocurrency into the hands of consumers and enabling them to conduct simple, secure transactions at their favorite online retailers. Essentially, we aim to solve two major problems affecting the adoption of cryptocurrency: people don’t know where to get coins, and they don’t know where to spend them. To solve the first problem, we’re giving away 300 million coins to the first 8 million users. And to solve the second problem, we’re creating a network of merchants that will accept ziftrCOINs and other types of cryptocurrency via the adoption of an API that we’re currently developing.
As consumers, developers, marketers, and miners ourselves, we want to improve the current retailer-to-consumer shopping experience. We believe that we can do that through the launch of ziftrCOIN, as ziftrCOIN poses numerous benefits to both retailers and consumers. We are really excited about some of the technical aspects of our coin, such as our Sign to Mine™ protocol, which you can read all about in our ziftrCOIN white paper.
As mentioned above, we’re currently developing a set of tools and applications to support ziftrCOIN and other types of cryptocurrency. Once these tools and applications are released, the function of the Ziftr ecosystem as a whole will become much clearer. For now, we’ll say that ziftrCOIN is another way – in addition to our browser add-on – for shoppers to enjoy the best possible online shopping experience.
We encourage everyone to learn more about what we are doing and find out more about our goals for ziftrCOIN at the Ziftr website.
What led you to decide to create your own altcoin rather than just adopting bitcoin?
We have been excited about cryptocurrencies and particularly block chain technology for quite a while now. Bob Wilkins, our CEO, started mining bitcoins and altcoins back in January and gradually got more and more of us interested in cryptocurrency (mostly because we began noticing big mining rigs set up all over the office and were wondering why our electric bills were so high). One of our software engineers, Stephen, even wrote his honors thesis on elliptic curve cryptography.
As a team, we started learning and talking more about the potential of cryptocurrency, and realized that we had some game-changing ideas that could have a significant impact on the future of this growing technology. We identified a couple of key challenges associated with cryptocurrency adoption: [as stated earlier], people don’t know how to get coins and they don’t know where to spend them.
We knew that we couldn’t overcome these challenges by simply adopting bitcoin, so we created ziftrCOIN. This way we could have full control of solving these problems on our own and getting everyday shoppers comfortable with cryptocurrency. Since Q1 2014, we’ve had a full team of front-and back-end developers dedicated to turning our vision into a reality, and we’re confident that ziftrCOIN has what it takes to become the next big cryptocurrency.
Considering the murky regulatory landscape revolving cryptocurrencies, do you fear government interference with the ziftrCOIN network?
We will abide by all laws and regulations surrounding virtual currencies, however at this time we do not foresee government activity interfering with our ziftrCOIN network. As regulators continue to establish rules on how to integrate this new technology into a structured financial system, we will work to ensure that we comply with all laws while remaining true to our goals of innovating and improving the shopping experience.
In your opinion, how responsive have retailers been to the opportunity to add ziftrCOIN support, as well as cryptocurrency in general?
Cryptocurrency adoption among retailers has been picking up speed as more and more large retailers continue to adopt this new technology.The general buzz and excitement around cryptocurrency has certainly worked in our favor. We’re already seeing a growing interest from key retailers, including a large New England furniture company that has already committed to accepting ziftrCOINs. Retailers of all sizes must constantly look for new ways to innovate. Many are starting to see the benefits of cryptocurrency and seeking out opportunities to become involved in the space.
ZiftrCOIN will launch on November 18. To learn more, visit the ziftrCOIN website or download the whitepaper.
Images from Ziftr and Shutterstock.
Last modified: January 10, 2020 2:46 PM UTC