The entrance of bitcoin to the real physical world has been widened on the 21st of November, when the crypto currency online service Gyft offered to customers target Gift cards to be bought on their platform. This gave new practical use to bitcoin holders – both in the United States and Canada. Of course, Target has also an online store on the web. It is hard to imagine a product, material or good not offered and shipped for free to the customer’s door in North America. It features almost anything a consumer would like to buy – and everything at the same place. From food to rarity drinks, from small scale electronics till household appliances, from computer games till furniture and clothes.
The variety of gift cards is very wide – their price and value can differ from 25 and up to 500 dollars. Still the famous Gyft application does not offer to make this interesting and very progressive purchase. These gift cards can be exchanged towards any kind of product offered by the vendor with a single exception – no American Express or Visa gift cards.
For people who have never used the services of Target is necessary to explain that it is an American retail company founded in the year 1902, originally it was named the Dayton Dry Goods Company and later - the Dayton Hudson Corporation. Now it has shortened its name to Target – the first shop under this name was offered to the community in 1962. The company is third in the line after Walmart and Kroger. It has more than 2000 physical shops in both countries. Their headquarters are in Minneapolis, Minnesota.
Its CEO Vinny Lingham does not give details on the agreement with Target, but gives detailed approach and analysis of the crypto currency’s role in modern retail. He is excited about this opportunity – as the retailer is a big brand it give additional positive points to bitcoin in general. He understands that there are not that many bitcoin users, but the merchants should be aware of this community. He also pities the lack of interest and enthusiasm from other big brands that could make a step towards mobile gift cards. The platform of Gyft allows easily to add some more to their store.
Lingham also has written an open letter to the users and community using both Gyft as an application and bitcoins in general to get information about the preferences of the customers. It might help the company to expand and to make right decisions about cooperation with real life traders and shops. Many very interesting ideas have entered this discussion, so the chairmanship and the board of Gyft have many opportunities to match the taste of their users.
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