Sometimes an idea is so out there that it’s hard to even explain clearly without sounding like a crazy person. Kurrenci is one of those ideas.
Kurrenci is money for the Internet. You “buy” Kurrenci (or earn it through browsing and other interactions) and then you can use it at various locations on the Web, including ecommerce sites, gaming services, and peer-to-peer payments.
Now one of the best things about currency exchange is arbitrage. Here’s where that comes in. Look at the list below. Each of those are exchange rates. But like mini-Pyongyangs, each website is in control of its own exchange rate. Parity can be 1 to 1 to the dollar or Amazon can offer 1.25, essentially offering a considerable discount on everything they sell. Kurrenci takes a small percentage of these “discounts” as payment for customer discovery.
“We came to this by thinking about the problems that currently exist as they relate to money on the Internet. From the merchant’s perspective, it has become increasingly difficult and expensive to acquire a customer. They are forced to resort to marketplaces and affiliates that only move product and don’t bring lasting customers. From the shopper’s perceptive, the coupon and discount mechanisms have become so fragmented that it is overwhelming,” said CEO Nathan Hecht. In other words this is a coupon that applies to everything on a site and, more important, is accepted everywhere on the Internet.