One app says it offers crypto rewards to customers who shop on some of the world’s most popular e-commerce platforms, including eBay, Amazon, Lazada, Best Buy, and Nike.

Inevitably, one of the downsides to a micro-retail treatment is that you have very little money left after you spend on new jeans or headphones.

Social Good Foundation Inc says. , the operator of SocialGood, says its goal is to change the status quo and end the vicious cycle that keeps many ordinary consumers trying to save money, no matter how hard they work.

The World Economic Forum has declared rising economic inequality to be a major global problem – one that appears to have been exacerbated by the coronavirus pandemic. A good example is Amazon, which managed to nearly double its net profit to $21.3 billion for the entire year of 2020.

The SocialGood team is committed to ensuring shared prosperity. An intuitive application has been created through which regular customers can buy the goods they want on regular trading platforms and get cryptocurrency as cashback. These rewards are proportional to the value of the purchases made and can be redeemed worldwide.

Business Innovation Plan submitted by Social Good Foundation Inc. by Yuriko Koike, Governor of Tokyo. Gaining this approval opens opportunities for the company to receive support from the Japanese government in the form of low-interest loans, reductions in patent-related fees, and support for foreign expansion.

Social Good Foundation Inc. was founded. Created by serial entrepreneur Soichiro Takaoka, who has been running a fintech group since 2005.

The SocialGood team’s actions are based on the belief in “making society a better place” – connecting the world with cryptocurrencies and creating a growing ecosystem in which all people and businesses, as well as society as a whole, can thrive.

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One drawback that has arisen with some of the other bounty programs is how the resulting cryptocurrency can depreciate in a bear market condition. This could make compensatory measures for bitcoin and ether buyers very unattractive. The SocialGood team claims to offer a solution to this problem through the use of SG tokens, while the project claims that this cryptocurrency, as a rule, cannot be exchanged for less than its cost at the time of issuance.

Overall, the SocialGood team says they are building an ongoing business model for a good cycle, and the SocialGood app is available on the Apple App Store and Google Play.

The company behind the model says it already has multiple patents in Japan and international patents pending in the US, China, EU, India, Southeast Asia and other major countries around the world – compare this to Amazon’s patent for One-Click Purchases. … It is hoped that over time, this technology will be licensed to other companies in hopes of expanding their own ecosystems.

Source: CoinTelegraph