CashBag ICO Review – Cash Back Rewards Program
Introduction
Since its discovery and its widespread adoption around the world, more and more people from various industries have integrated their businesses into the internet. Integrating your business into the internet would mean more user base and easier transactions. You would need fewer people to manage e-commerce businesses than the physical stores. However, with thousands of e-commerce businesses on the internet right now, it would take a really good reward and incentive program to attract people and earn their loyalty. Of course, there is the classic rewards program where purchasing a product online can get you a certain amount of points exchangeable for either discounts or product prizes. But usually, this kind of rewards program is time-consuming as you would need to register for each and every store that you’d want to participate in, oftentimes making people lose interest completely. To solve this kind of problem, a unique rewards program is introduced that will revolutionize the way to incentivize customers in online shopping and keep them coming as loyal customers. This solution is called CashBag.
What is CashBag?
CashBag is a transactional cash back aggregator that will reward customers with cash back when they shop and transact at participating merchants from the CashBag platform. The cash reward which will be received by the customers is paid by the merchants and tracked by CashBag through the sale tracking integration with each merchant. The CashBag platform provides a multi-currency wallet for each customer where their allocated cash backs will be deposited depending on their shopping activity. The earned cashback can be paid out in the client’s fiat currency through linked banks or through PayPal.
CashBag is already an established company who works with over 500 merchants in the platform and this list includes some of the biggest names in the e-commerce right now such as eBay, AliExpress, Booking.com, Groupon, Target and many more. The CashBag website, CashBag.co was launched last 2016 and now has 135,000 members, a continuously growing number every day.
Integration Into the Blockchain
Because of the foreseeable benefits of the blockchain, Cashbag.co is integrated into the blockchain. This will result in faster transactions with lesser transaction fees and will allow the members to be rewarded with a cryptocurrency or token with a real-world supported value. It cannot be denied that with the increasing adoption from various industries around the world, blockchain is the future. By using the blockchain-based CashBag platform, members will be able to earn CashBag tokens as cashback which can be converted to fiat currency or can be traded with other cryptocurrencies in the blockchain.
The CashBag Token
The CashBag token or CBC is an Ethereum – based ERC20 token which will be used inside the CashBag ecosystem. The cash backs which will be received by customers as a reward for their support will be in the form of CBC tokens. These tokens will have its own intrinsic value and can be traded with other cryptocurrencies in exchange platforms or converted to fiat currency.
Consumers can earn CBC tokens in two ways:
- Registration
- Member Incentives
So, for example, if Mrs. Jones purchases a $1000 item from Walmart and the cash back amount payable is $50, Mrs. Jones will receive $50 + $5 value in CBC at the current market price.
CashBag ICO and Token Economics
The CBC tokens have a total supply volume of 367 million wherein 120 million will be allocated for the CashBag token sale. The price of CBC tokens will be at 1 ETH = 6000 tokens or with the current value of ETH right now, each token will be available at $0.06 cents each. So for those people who are looking for a promising ICO to invest in, now is your time to purchase CBC tokens. The crowd sale will last a duration of 30 days starting from March 12 but it can end earlier if all the tokens will be sold before the end of the token sale. No additional tokens will be created after the end of the token sale.
Roadmap
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Source: CashBag whitepaperTeam
The CashBag team is made up of credible and experienced professionals from various fields.
The CEO and Co-founder Jonathan Miller is a self-taught software developer with strong backgrounds in sales and marketing. He has developed innovative software technologies and even Google was amazed by his talents and bought his patent on digital performance-based marketing methodologies. The business leader and co-founder Kirsty Henderson has over 8 years of experience in the e-commerce industry and has worked as an e-commerce specialist, strategist, project coordinator and general manager. With the founders combined knowledge on sales, marketing, and the e-commerce industry and together with the rest of the equally talented and experienced CashBag team, they have worked hard to make CashBag a revolution in the blockchain integrated e-commerce rewards program.
Conclusion
As an avid fan of online shopping myself, I appreciate the change that CashBag is trying to offer. Giving rewards in terms of cryptocurrencies is a better option because it can also be used as an investment to trade with other cryptocurrencies or it can be converted and withdrawn to fiat currency as the owner decides. You can also use the tokens to advertise your own e-commerce business in the CashBag platform so that makes it better than the traditional rewards program. CashBag is affiliated with over 500 merchants so that saves you the trouble of enrolling with each merchant as you would only register once in CashBag and avail the rewards of transacting with all 500 online stores. I also liked that the CashBag team will buy back tokens once the crowd sale is ended as this will increase the liquidity of the CBC tokens and will increase the value of the tokens in the future. All in all, this project is a thumbs up for and should be supported by people especially online shoppers from around the world.
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