A group of investors raised $5 million for Lolli. The company is a browser extension that rewards online shoppers with free bitcoin when they make a purchase.
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Lolli is a reward application that gives you Bitcoin when you shop online. Lolli claims that it had partnered with Alibaba following the Singles’ Day marketing blitz. Blockchain Training Institute reported that Lolli introduced a program where users would get 5% back in the form of Bitcoin.Despite this, Alibaba refuses that it has any partnership with Lolli. Alex Adelman, CEO of Lolli denied this. Adelman quoted, "We’ve been partnered with Alibaba Group since May through AliExpress. We have driven AliExpress significant revenue and distributed bitcoin rewards to our users.
Just a day after US retail startup Lolli announced a partnership with Alibaba to offer shoppers bitcoin rewards when purchasing items on its marketplaces, the Chinese e-commerce giant has “deactivated the partnership without cause,” according to Lolli.Why it matters: While Lolli is a US-based startup and the shoppers earning the bitcoin-based rewards are also located in the country, associating Alibaba—one of China’s most prominent tech companies—with the cryptocurrency could have proved risky.Financial entities in China are prohibited from any dealings involving bitcoin and other cryptocurrency, and fintech giant Ant Financial is an Alibaba affiliate.Detail: Prior to the statement from Lolli about the termination of the partnership, an Alibaba spokesperson told TechNode that “it does not have any partnership” with the firm and that a previous TechNode story about the partnership “is not true.”Alibaba Group later characterized its relationship with Lolli as an “affiliate marketing program” brokered by a subcontractor of one of its contractors without the company’s knowledge.Alibaba also said its “contractor is terminating the relationship with the subcontractor who was working with Lolli,” and that Lolli “never had the right to claim a partnership with Alibaba.com or imply one with Alibaba Group, the parent of Alibaba.com.”
Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours.We closed the day, November 13 2019, at a price of $8,808.That’s a minor 0.04 percent decline in 24 hours, or -$3.77.We’re still 56 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).Bitcoin’s market cap ended the day at $158,949,942,842.Yesterday’s volume of $17,545,755,405 was the lowest in nineteen days, 9 percent above the year’s average, and 61 percent below the year’s high.
Alibaba and New York-based affiliate retail startup Lolli have partnered to give shoppers rewards paid in bitcoin when purchasing items on Alibaba’s e-commerce platforms, according to CoinDesk.Why it matters: The upcoming holiday season could be a valuable opportunity for blockchain-based retail products to break into mainstream applications more meaningfully.While the partnership will not initially put bitcoin directly into the hands of Chinese shoppers, a cross-continent collaboration like this one is a sign of what’s to come for the international blockchain industry.For Alibaba, the move may be an indication of how it plans to deal with cryptocurrency moving forward despite Alipay’s recent announcement that it will be banning any transactions on its platform related to bitcoin and other cryptocurrencies in line with Chinese law.“This partnership is a great first step to connect the two largest economies, China and the US, through bitcoin and commerce.The opportunity is available for US users only for now but we plan to expand internationally soon, letting everyone in the world easily earn and own bitcoin.”
Yet, for all of the excitement in the space, BTC remains largely the province of technically-sophisticated finance and software junkies and their Uber drivers.Partnering with Matt Senter, he had previously founded Cosmic Cart, a “universal shopping cart” that would allow companies to sell their goods anywhere online.The company was eventually acquired by POPSUGAR, and acquired a second time by Ebates, a Rakuten-owned affiliate marketing platform.After reconnecting and exploring, Adelman and Senter realized that scaling consumer demand for Bitcoin is the critical challenge for widespread adoption of the technology, and that retail rewards and loyalty could represent a port of entry for consumers new to cryptocurrencies.Out of that thinking was born Lolli.Consumers install a browser extension or start from Lolli’s website to discover retailers offering crypto rewards (smartphone and tablet apps are “coming soon”).
In the last issue of the prestigious journal EMS Surveys in Mathematical Sciences published by the European Mathematical Society there appeared a 102 pages long paper entitled "Numerical infinities and infinitesimals: Methodology, applications, and repercussions on two Hilbert problems" written by Yaroslav D. Sergeyev, Professor at Lobachevsky State University in Nizhni Novgorod, Russia and Distinguished Professor at the University of Calabria, Italy (see his Brief Bio below).The paper describes a recent computational methodology introduced by the author paying a special attention to the separation of mathematical objects from numeral systems involved in their representation.The methodology does not contradict Cantor's and non-standard analysis views and is based on the Euclid's Common Notion no.5 "The whole is greater than the part" applied to all quantities (finite, infinite, and infinitesimal) and to all sets and processes (finite and infinite).The non-contradictory of the approach has been proved by the famous Italian logician Prof. Gabriele Lolli.This computational methodology uses a new kind of supercomputer called the Infinity Computer (patented in USA and EU) working numerically (traditional theories work with infinities and infinitesimals only symbolically) with infinite and infinitesimal numbers that can be written in a positional numeral system with an infinite radix.