What is an internet currency?
Internet currency is a form of electronic payment. It was created to have a global payment that could be used on the Internet. The birth of eBay® in 1995 inspired the pressure on the Internet currency because it announced the beginning of the new age of web interpretations. By the end of 2001, this idea mostly disappeared as three main companies, Beez.com, InternetCash.com and Flooz.com, which offered not only failed the currency, but in some cases several angry customers with credits that were now worthless. This system was considered an effective way to increase global trade as customers in developing countries who could not afford to have credit cards - and their related debt - now had a different way of participating in the trade.
When internet, Internet, InternetCash.com and Flooz.com stops in 2001, several customers did not receive the opportunity to spend their credits. While the currency from Beez.com was based on earned credits,Flooz.com customers had the opportunity to pay cash for credits, and thus lost not only earned credit but also on their own funds. That was the cause of a lot of controversy and media discussion.
In the case of Flooz.com, sellers who have accepted these payment methods that they learned about the company's fighting in front of their customers. Many consumers learned that their credits have no value because the sellers were informed that they no longer accept them as a currency. Flooz.com not only contacted its customers first, but eventually gave them only four days to use their credits before they lost their value.
Beutz.com gave customers the opportunity to obtain credits by performing tasks such as visiting a specific site or shopping on other websites. These credits could then be used on the website of the participating sellers. The company folded in 2001 and wouldLA sold to the United States company Carlson Marketing Group. When this society also began to fight, the idea of Berez.com was eventually interrupted.
InternetCash.com was based on prepaid cards that could be used to buy goods and services online. Each account had card number and personal identification number (PIN). Customers shopping on participating websites would be directed to an external website owned by InternetCash.com to enter their payment information and complete the transaction. The company spent most of its capital on building its infrastructure, associated with the unsuccessful Internet economy at the end of 90 and at the beginning of 2000 led to its closure in 2001.