TOKYO, Jan. 28, 2022 (GLOBE NEWSWIRE) — Users earn assets with Crypto Back from the SocialGood app just by shopping online, which has now reached a total of 1,615,104 users (as of Jan. 12, 2022) . Social Good Foundation Inc. aims to build the world’s largest global platform and bring financial freedom to all people around the world through their SocialGood app.
The mission of the SocialGood team is to build the world’s largest global platform and bring financial freedom to everyone around the world through the SocialGood app. Users earn more assets the more they buy through the app, available on iOS and Android. The app has partnered with over 1,800 major shopping websites worldwide including AliExpress, eBay, Walmart, Lazada, Nike* so users can recover up to 100% of their online spending under form of SocialGood (SG) cryptocurrency when they purchase through the SocialGood app. SG can be exchanged at any time into other currencies such as Bitcoin and USDT (the stablecoin that mirrors the US dollar). SG is listed on major crypto exchanges such as Uniswap, Bittrex, etc. The SG* market cap hit a record high of US$1.48 billion on January 18, 2020.
Users who hold their SG crypto in the SocialGood app can earn interest (staking bonus) every 6 hours, up to 15% APY. SG can be withdrawn whenever the user needs it, and in the future, Social Good Foundation Inc. plans to work with partner companies so that users can make purchases using their SG crypto.
Social Good Foundation Inc. has filed over 68* patents, including its patented Crypto Back system, patented credit card-linked crypto back mechanism, patented algorithm optimization for multiple online stores, and more again. These patents prove the unique creativity and innovation behind the SocialGood app.
Since its debut in Japan in 2018, SocialGood has been designed for global use. Since the release of the app in September 2020, users have joined 161 countries around the world, mainly the United States and the United Kingdom In 2021, partnerships with major companies such as Walmart, eBay, Booking.com, Nike and other popular websites led to a huge spike in users, surpassing 600,000 in December 2021, and as of January 12, 2022 there were 1,615,104 users.*
In addition to the English version, the app added Chinese and Hindi to the available languages in early January 2022. More languages will continue to be added as the goal is to reach 10 million users worldwide. world by the end of 2022.
The SocialGood app aims to become the most used mobile app in the world, and it will continue to increase partnerships with major companies around the world and make the app even more useful.
Details: SocialGood app website: https://socialgood.inc/
*“SocialGood” and the SocialGood logo are registered or pending trademarks in Japan, the United States and the EU
*Available partner shopping sites will differ depending on the user’s country.
* Fully diluted market capitalization is calculated as the maximum bid multiplied by the current market price.
* Staking Bonus is a service to reward users with extra SG crypto in exchange for holding their SG in the app. The more SG users hold in the app, the more bonus SG they will receive. It is not a financial service.
*The number of patents refers to patent claims in Japan only.
*Total of all registered users on iOS/Android app and web version.
The story behind the SocialGood app
Official concept video: https://www.youtube.com/watch?v=kk_wCQ_29ms
Our mission is to build the world’s largest global platform and bring financial freedom to everyone around the world.
The majority of people in the world do not have assets, valuable resources that can provide future benefits. They continue to lose money every day buying their basic necessities and are therefore unable to build up assets for the future. On the other hand, the asset owners, the shareholders of the companies that benefit consumers, increase the value of their long-term assets through corporate dividends and the rising value of their stock holdings. For example, global equities increase in value at an average rate of 6.2% each year. We could therefore calculate that an investment increases by approximately 6.1 times its original value over a period of 30 years.*
In this way, capitalism strives to further widen the economic gap between the few wealthy people who already own assets and most of the struggling and unable to own assets. Experts have recognized that the automatically widening economic gap between most people and the wealthy few is a serious problem facing societies around the world. (e.g., World Economic Forum: Stakeholders for a Cohesive and Sustainable World, Davos, Switzerland, January 21-24, 2019)
The SocialGood app was created to solve these societal problems and update the way capitalism works. That’s why it’s a service for consumers to earn money on their regular purchases, instead of just losing their money on every purchase.
By expanding the use of SocialGood App globally, we aim to reduce the economic gap in the world and improve society. In the future, we plan to automatically donate a portion of the Gross Merchandise Value (GMV) from the SocialGood app to organizations around the world that have a positive impact on society and the environment.
Our Patents for Crypto Back Services
The global market size for cashback services (including rewards points) is US$108 billion.*
Unlike reward point systems of the past, digital assets (cryptocurrency) do not expire or become invalid. Users can easily convert crypto to their currency of choice using crypto exchanges and other platforms. The total value of all daily crypto transactions is estimated at US$100 billion, and this is expected to continue to increase even more in the future.*
Looking at asset value, ease of conversion, and international friendliness, consumers will find many benefits to using digital assets instead of legacy point systems. Thus, it can be predicted that cashback services (including loyalty programs, points services, and rewards services) using global digital cryptocurrency will become mainstream around the world.
Our company, Social Good Foundation Inc., has filed several business model patents in Japan for our services offering cashback, rewards, and point rewards via cryptocurrency (a “token economy”). We have also completed the process of applying for these patents in the US, China, EU, India and other parts of the world. The SocialGood app is an example of our patented business model being used.
More details here: https://socialgood-foundation.com/news/20200610.php
In the future, as the “point economy” of the past is replaced by a “token economy”, we plan to license our blockchain-related patents to other companies around the world. Any company interested in licensing our patents or consulting service should feel free to contact us.
*Global Cashback Industry Report 2020
*MSCI World Index data from end of 1989 to end of 2019 (returns including dividends)
*CoinMarketCap (September 15, 2020), JP Morgan Outlook (February 2, 2020)
About Social Good Foundation Inc.
We are an innovative fintech company with 68 Japanese patents related to cryptocurrency and blockchains. In 2021, we received approval from the Governor of Tokyo for our business model in accordance with the Small and Medium Enterprise Business Improvement Act, and in 2022, we were supported by the Japanese government organization JETRO .
Everything our company does is with the belief that it will make the world a better place. Our method to change society for the better is to connect the world to the symbolic ecosystem and develop an ecosystem that will be a win-win situation for all individuals, businesses and society as a whole. We provide a global platform that empowers people to make the world a better place and gain assets for themselves simply by shopping.
Office seat: 18F West Tower Otemachi First Square, 1-5-1 Otemachi, Chiyoda-ku, Tokyo, Japan
Founder and CEO: Soichiro Takaoka
Presentation of the company: Operation of a smartphone-based service using blockchain technology
Company Website: https://socialgood-foundation.com/
SocialGood app website: https://socialgood.inc/
Official Twitter: https://twitter.com/socialgood_inc
Contact us: https://socialgood-foundation.com/contact/
Photos accompanying this announcement are available at:
CONTACT: Contact: Anne Clark [email protected]