Cryptocurrency in Action: Gifto’s New E-Commerce Platform Live in Taiwan

Place/Date: Hong Kong - January 18th, 2019 at 12:00 pm UTC · 3 min read
Contact: GIFTO, Source: GIFTO

Cryptocurrency in Action: Gifto’s New E-Commerce Platform Live in Taiwan
Photo: GIFTO Creators / Facebook

Despite the name, cryptocurrencies are very difficult being used in common day-to-day transactions. A large part of the issue is a lack of adoption among major retailers due to price volatility and the lingering reputation of scam ICOs, but even if that were not the case, convoluted exchange gateways ensure buying something as simple as a stick of gum would require myriad steps and multiple online platforms if one were to use a cryptocurrency. In 2019, Gifto is out to change that narrative with launch of its E-Commerce platform where goods from the top Taiwanese brands can be purchased with just the press of a button.

Anything from cheesecakes, tea, or gift cards from top Taiwanese brands such as Cheese Duke and Holiday KTV can now be purchased with Gifto (GTO) directly from the project’s innovative web wallet and website. There is never a need to visit an exchange, or set up a Coinbase account. As long as a user has access to their web wallet, then they have direct access to the store.

The project is using its backing by Asia Innovations Group (AIG) in order to sidestep the convoluted exchange gateways that keep crypto out of the hands of the general market. By leveraging Uplive, AIG’s mobile live streaming product, Gifto is able to place its web wallet within the app and give 5 million Taiwanese Uplive users access to Gifto’s growing catalogue of E-Commerce offerings.

Gifto is also looking to untangle the web of processes involved when purchasing cryptocurrencies by providing a direct fiat gateway to GTO with ACE exchange in Taiwan. The team behind Gifto is taking advantage of Taiwan’s crypto-friendly market and crypto-friendly regulations to increase access to the token, as well as drive its usage. Along with ACE, this initiative includes Gifto’s strategic partnership with the Asia Blockchain Accelerator (ABA) in Taiwan, first government backed blockchain accelerator in Asia. By working alongside the ABA, Gifto is helping to tokenize services in multiple industries and build projects that generate real economic value. With E-Commerce now in place, Gifto is building a network of value in Taiwan that it expects lead to mass adoption in 2019.

Gifto is now in an elite class of tokens like Bitcoin, where real-world applicability has moved beyond the white paper and into the business of providing services for consumers. The market has responded enthusiastically to Gifto’s E-Commerce development, and Gifto’s profile has raised rapidly in trading volume and rankings. If 2018 was a warning that the crypto industry cannot be sustained on hype and speculation, then 2019 is the year that the industry must prove that behind all the noise is a revolutionary technology that can enable a more transparent, equitable, and fun exchange of value online. Projects like Gifto are leading the charge by providing cryptocurrencies that aren’t content to be passing curiosities, but are instead generating real economic value through tokenized services.

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