| Web currency site beenz.com claims
that a million transactions have been conducted on the Internet using beenz, and that there are now over 100,000,000 beenz in circulation.
"The millionth beenz transaction underlines how much the Web's currency has
begun to capture the hearts and minds of both companies and consumers on
both sides of the Atlantic," said Philip Letts, CEO of beenz.com.
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"We are encouraged by how quickly both merchants and consumers on the
Web have come to appreciate the power of beenz."
The European Internet Report::
an estimated 8 million. MORGAN STANLEY DEAN WITTER It claims to be able to revenues by clearing transactions and charging a commission on beenz sold to
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He also claims that e-gold has more transaction volume in a single quarter than Web currency services like Cybercash, Beenz, and Flooz completed over their
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Users can collect beenz at participating sites, usually
for shopping but sometimes for simply visiting. The beenz can then
be spent at sites belonging to participating traders.
The creators of beenz say that the currency can also be used
as pocket-money for children. The company has an agreement with
iCanBuy.com, a leading
digital wallet for teens and kids, where the beenz can be
converted into a currency for use at certain stores and charities.
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The company plans to issue 5.4 million shares of between $12 and $14, which claims customers benefit from his companys ability to process transactions in
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"With approximately 200 businesses and thousands of people
trading beenz currently, and new businesses and consumers
joining everyday, we are witnessing only the beginning of
the beenz revolution," added Letts.
According to published reports, the company may face a lawsuit after taking back significant amounts of its e-commerce currency. Beenz blames the confusion on a distributor who erroneously released 1,000 beenz to each user instead of an allocated 50.
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