Today, it isn’t as important to know how to make money as it is to know how to save it and invest it. Those who are saving a part of their income to invest it, always face a dilemma: should I save this money for the future myself or can I spend it right now? All of us have so many temptations: buy a new TV set, a new mobile phone, new clothes, whatever. But those who have mastered the art of accumulating wealth already know: there are many tools that can be used to get profit and invest your hard earned money into various assets that will make you more money. It’s not necessary to live like a hermit, you only have to act smart.
One of these tools is the cashback system. Yes, you can buy anything you want, but at the same time, you can get back a portion of your money as a bonus for the purchase. There’re a lot of cashback systems for credit cards or mobile payments, but in this article we’re going to be talking about the Social Good Project.
The Social Good Project comes with a unique approach to cashback incentives, and it even offers up to an astonishing 20% return on the money you spend on its partner sites, such as Amazon and Apple. The cashback gets returned in the form of SocialGood tokens as an instant investment with the potential to increase in value, and as the Social Good Foundation, from which the Social Good Project is founded, calls it, Digital Gold.
The SocialGood Cashback Platform works the same way Amazon does; connecting buyers and consumers. But the SocialGood Cashback Platform offers a marketplace through the SocialGood Cashback service at which users can shop at all of their favorite stores. It lists products and services such as Amazon, but it will also list services that usually can’t be listed on Amazon too (i.e. jewelers, realtors, lawyers, hairdressers, etc.), making it a valuable contestant in the market. Therefore, following its centralized counterpart’s success, it has the potential to become the world’s largest shopping network utilizing blockchain by providing the lowest price and the largest product line-up to smartphone users around the world. There are already over 75,000 participants worldwide.
The SocialGood Cashback platform is better than its competitors, because as operational costs are reduced through blockchain technology, the SocialGood Cashback Platform is able to give you back higher cashback rates than its competitors and since they list a variety of shops and stores, you’re able to shop at all the stores you like and still get cashback on top of that.
In this way, users are motivated to hold the SocialGood tokens received as cashback, because the more users increase, the more users use the SocialGood Cashback service to buy products. As the cashback service users increase, the more the Social Good Foundation will receive partners’ advertising fees. Then, the Social Good Foundation will use the partner’s advertising fees received as a way to buy back cashback from the market to supply cashback. This process builds a constant demand for the token, resulting in the token getting even more popular and, finally the amount of SocialGood tokens will become sparse, making SocialGood tokens become more valuable.
Currently, the project is managed by the Social Good Foundation, founded by Mr.Soichiro Takaoka, and it has more than 75,000 active users. The Social Good Foundation team has gathered more than $30 million in investments from various institutional investors.
The price raising mechanism helps the value of the SocialGood token to grow. When people buy at partner companies, they receive cashback. When the number of users grows, the amount of partners will also grow and those fees will be used as the basis for the company to buy back tokens from the market. This will result in the users increasing and as the users increase, the amount of cashback payments will increase as well, and thus, with a limited supply, it always creates more buying pressure which is pushing the SocialGood token price value up.
The Social Good Foundation plans to launch various advertising campaigns to attract more users to the ecosystem. Listing on the Japanese market, the third-largest market by GDP in the world, will help to make the demand of the token raise and kickstart the process.
People holding SocialGood tokens from their cashback service know not only that they’re saving money, but they are also investing in their future. The more tokens they hold, the higher rate of cashback they get; up to 20%. Every token in the system is equal to $10 at this time. As the system incentivizes users to hold tokens, over time, as the amount of cashback held by users grow, most tokens will be out of circulation giving it scarce value. With a limited number of issued tokens at the time of listing, this should happen pretty soon. Unlike with fiat currency, these can’t be printed, so if they meet high demand, there won’t be enough tokens for everyone. Although the Social Good Foundation will purchase back tokens to supply cashback, since the supply on the market is limited, this mechanism will surely make the price of the SocialGood token go up even higher.
The Social Good Project has already received the consent to list on many exchanges worldwide, including DigiFinex and LATOKEN. They also plan to list on many additional large exchanges within this year. As it was previously mentioned, one of the primary target markets is Japan, where over 50% of the world’s cryptocurrency demand comes from. Due to its regulatory status, the SocialGood token is one of the few altcoins expected to be listed on Japan’s exchanges.
The Social Good Project and the company, the Social Good Foundation, was developed by Ayumi Trust Group, a financial tech group registered with the Japanese Financial Services Agency (FSA). The Social Good Foundation is registered with the SEC and it owns the Token Ecosystem Patent worldwide, for its price rising mechanism utilizing blockchain technologies, as mentioned in Forbes.
In addition, the Social Good Project incorporates a donation system, where for every purchase made using the SocialGood Cashback service, a donation is made. Thanks to its social contribution system can become a target of ESG investments from large institutional investors because it’s built upon the principles of a relatively new investment paradigm, called the PRI (Proponent of Responsible Investment) and it incorporates the Environment, Social, and Governance (ESG) issues into investment decisions. The PRI and ESG were first proposed by the United Nations ex-Secretary Kofi Annan, and more than 1,700 institutions are supporting the initiative, such as Cisco Systems, Best Buy, HP, and these funds can be invested into the Social Good Project’s charitable initiatives.
In general, the SocialGood Cashback system can be compared to the popular cashback site from the US, BeFrugal. This site has thousands of projects listed, and all of them are interested in staying on the site, as they get many clients from it. However, it’s only about the money, as BeFrugal doesn’t engage in any social mission nor does it utilize cost-saving blockchain technology, which means that it cannot provide the highest cashback rates.
We can also mention ShopAtHome. In addition to making purchases, cashback can be earned in the ShopGold Rewards section for taking surveys, playing games, and inviting friends to become members. These actions are rewarded with ShopGold points, but they can only be redeemed for gift cards and can’t be converted to cash, whereas SocialGood tokens, once verified and distributed to users and after listed on exchanges, can be exchanged for fiat instantly.
The third cashback service we want to list here is CouponCactus. It supports various stores, and its minimum redemption amount is only $10, which is pretty low for a cashback service. It even allows users to withdraw money to PayPal or to a bank account, but only once every three months. If you haven’t accumulated that $10, you should wait another three months. That’s not an issue when you deal with the Social Good Project. There’s no minimum amount, because after your tokens have been distributed, your tokens belong to you, and you can withdraw them anytime you want to once the SocialGood token is listed on exchanges.
Paying in cryptocurrency is the most convenient system because, instead of constant price-cutting, customers get something better: an asset, appreciating in value over time. This shifts the conversation from “look I’ve got some extra cash” to “look I saved some money” and, in the long term, these purchase savings can go higher and higher.
The SocialGood token is a utility ERC20 token, so most exchanges can support it by default. Once listed, it will be found on DigiFinex, LATOKEN, and other large exchanges.
Also, before listing, there will be several IEOs and ICOs during 2019 where you can buy SocialGood tokens directly. At this time, there is an ongoing IEO on LATOKEN.
You can also get access to some of the SocialGood tokens that will be distributed amongst users in the form of a cashback bonus by using the SocialGood Cashback service.
Users can cash out any time after the SocialGood token has been listed by selling their SocialGood tokens at supported exchanges for fiat currency, BTC, or any other listed cryptocurrency.
As we can see, the Social Good Project is both socially responsible and an investment with potential. But how does it work again?
- Consumers buy goods and services in the Social Good Ecosystem
- They receive returns of up to 20% as a cashback bonus
- A small part of the payment amount goes to charity
- The Social Good Foundation utilizes a price raising mechanism, patents submitted, making the price of the token increase
- As the demand for cashback rises from the Japanese population and also, further in the future, ESG investments, users get the motivation to hold tokens long-term in anticipation of the price rising
The token will be listed on exchanges worldwide, including DigiFinex and LATOKEN, and soon it will appear on Japanese exchanges too, so now is your time to invest.
The whole system is designed utilizing the price raising mechanism that helps you to get the most cash back while at the same time improving society and help those who live much harder lives. Not every project strives to achieve this goal, but helping people has never been so easy as it is now – you can just shop and the Social Good Project will do the rest!