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Glance Announces Cryptocurrency Strategy

VANCOUVER, British Columbia, Nov. 22, 2017 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (GET.CN) / (GLNNF) / (GJT) further defines its crypto strategy.  The Glance token will be granted as rewards to users of the Glance Pay mobile payment app every time they spend on the Glance Pay mobile payment network, whether they have paid with the new cryptocurrency or via other payment methods.  This strategy is intended to support rapid adoption of the cryptocurrency to a broad range of consumers, although the app will also be marketed to crypto users in leading urban centres.

Glance also intends to apply elements of its anti-fraud technology to cryptocurrencies to reduce the risk associated with converting traditional currencies to and from cryptocurrencies.

The market cap of all cryptocurrencies has gone from $17 billion USD one year ago to over $245 billion this week, which is an increase of over 1,340% (according to coinmarketcap.com).  This incredible expansion of the cryptocurrency market demonstrates a significant increase in demand for cryptocurrencies and increased demand for ways to spend them.

Glance is currently reviewing 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.

Based on discussions with Glance’s cryptocurrency advisors and through its own internal research, Glance’s management believes the following are some of the key factors driving successful cryptocurrencies:

  • Proven management and technical team
  • Proven cryptocurrency team
  • Large network of cryptocurrency advisors and partners for strategy and raising awareness in the cryptocurrency community
  • Access to a network or community which would significantly benefit from usage of the cryptocurrency
  • Access to funding to build the technology and to raise awareness for the cryptocurrency

Glance believes that it is well positioned in relation to these factors and is actively looking to increase its capabilities on all fronts. 

About Glance Technologies Inc.

Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants. Glance is building a valuable network of merchants and consumers, and offers targeted in-app marketing, geo targeted digital coupons, customer feedback, in-merchant messaging and custom automated 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, merchant manager apps, a large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing. Glance Pay has entered into significant licensing agreements to access the cannabis, fitness and wellness, foreign student and tourist markets through Cannapay Financial Inc., Active Pay Distribution Inc. and Euro Asia Pay Holdings Inc.  Glance Pay is currently developing a rewards based cryptocurrency to be integrated into its platform.

For more information about Glance, please go to www.glance.tech or contact:
Christina Rao
Vice President, Investor Relations
(604) 723-7480
investors@glancepay.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively "forward- looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “will” “may” "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Glance cautions investors that any forward-looking information provided by Glance is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking complete discussion of such risk factors and their potential effects which may be accessed through the Glance's profile on SEDAR at www.sedar.com.  In particular, Glance may not be successful in building its planned cryptocurrency or there may not be sufficient support for the cryptocurrency to make it a success.