Cashbag: Incentive cashback system with a crypto twist.
Introducing cashbagcoin, the cash back cryptocoin
Innovation, tech, crypto, blockchain technology. The future of any system, including the world we live in depends on how innovative we are, how much we impliment good, better, newer technology.
While the coin, cashbagcoin was recently created, the company, cashbag.co has been around for far longer.
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In 2016, the site cashbag.io was launched publicly, and has 135,00 members and over 500 merchants.
Cashbag.co is a company which deals with cash back aggregation that increases the rewards customers get as a result of shoping with their merchants.
Why cashbag and bounty
The advantages of using blockchain technology on a cashback system are
In a traditional retail setting, cashbacks are given when apurchase is made, and usually in form of, well....... cash.
With cashbag however, by leveraging the ethereum blockchain, instant cashback rewards, in form of CBC can be given to customers who utilize a store with CBC cashback service.
CBC is given to individuals as incentive for transacting through the platform.
Since the coin is an ERC-20 token, it is run on the etherum blockchain
With the input of blockchain tech, more transaparency in respect to transaction records, authentication, smart contracts etc, can be attained.
Token allocation
Cashbag will be creating tokens called CBC(cashbagcoins) which will be used for all operations concerning the system.
A total of 367,000,000 CBC tokens will be created.
| Token allocation | Number of coins |
|---|---|
| Initial token sale | 120,000, |
| Cashbag member incentives | 170,000,000 |
| Token sale costs | 12,000,000 |
| Liquidity reserves | 65,000,000 |
From the token sales, the funds will be applied to growing and developing the business. Shareholders of the company will not be receiving tokens.
| Use of funds | percentage |
|---|---|
| Software developement | 36% |
| sales&Marketing | 32% |
| Operations | 11% |
| Legal | 9% |
| Reserve fund | 12% |
ICO details
Cashbagcoin is offering 120m CBC coins for token sale, which is to be sold at 1ETH:6000CBC tokens. The ICO starts from the 12th of March 2018, and runs through to the 2nd of April 2018.
Only Ethereum can be used to buy the CBC tokens, and bonuses are given based on the time in which the purchase is made.
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Roadmap
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Cashbagcoin is looking like a project that could potentially see a place in the world we are building for the future.
author name: destinysaid
bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1874680
ETH address: 0xb83ed3e6B6497f7B0350cc053AF918aE7423037E