The SocialGood Blockchain project aims to improve society

SocialGood is an ambitious blockchain project that has the dizzying goal of rewriting capitalism as we know it today by using Blockchain in conjunction with artificial intelligence (AI) to create what is, essentially, a donation machine.

You can download the SocialGood app today on Google Play for Android and the Apple Store for iPhone.

The blockchain-powered platform creates a win-win solution for consumers and social foundations in its non-profit business cycle. Their vision is to “make society better” by providing promising digital assets to all consumers free of charge through their “CryptoBack” solution and providing profits to foundations that do essential work around the world.

The problem

It is clear to many that the middle class in the West is in decline in the current capitalist structure. The gap between “Haves” and “Have-Not” continues to widen. The SocialGood team says corporate shareholders are enjoying most of the rewards of global economic development and it has become one-sided, where consumers pay companies money and shareholders profit from it.

This is a result of ‘Mainstreet’ having not had the opportunity to play the game while ‘Wall Street’ continues to crack the class system.

The SocialGood white paper notes:

“The problem with the capitalist mechanism is that this economic gap continues to widen as a small portion of asset owners monopolize most of the world’s assets. This was also mentioned as an issue in Oxfam’s report “An Economy for the 99%”, as discussed at the Davos Forum Summit (World Economic Forum 2019). “

“To solve this problem, we offer all consumers the opportunity to obtain resources for free automatically. We hope that as many people as possible own our assets so that they can have a safer and more prosperous life. In this way, we can contribute to promote the “democratization of goods”.

The solution

Each player in this ecosystem receives the following benefits:

• Consumers (the global consumer spending market is $ 56 trillion). Only by making purchases, can they receive investment goods at no cost. Since zero costs were incurred, everyone earns economic profits.
• Cryptoasset Investors (Market Size: $ 300 Billion). Retail partners only pay commissions when an item is sold, so there is no risk. There are no upfront costs or running costs and just an increase in sales.

The following occurs in the SocialGood ecosystem when consumers use the app:

1. By doing their daily shopping, users, as consumers, can automatically accumulate their resources at no cost.
2. As the company’s sales continue to increase, the more users grow, the more the value of the owners’ assets tends to increase.
3. As the gross value of merchandise increases in this ecosystem, more donations are made automatically using AI to organizations contributing to society globally.

As the token’s utility increases (the more it is used, held, bought or traded), the more value is created and the more donations are made to organizations contributing to society globally, bearing in mind the UN’s 17 sustainable goals.

As a free digital resource that rewards consumers for shopping only, SocialGood provides a crypto point return service for retail store purchases and is a digital resource they believe can improve society at large by supporting nonprofits with own profits.

There is a lot to choose from in terms of buying, so you can’t miss out on big brands. They have partnered with over 1,600 retailers in Japan and over 260 large international retail companies (Amazon, Apple, Alibaba, eBay, Lazada, Nike etc.).

The model is simple: users are rewarded with a portion of their purchase price in SocialGood digital assets for free when they purchase items from their retail partners via its platform. The more people use the platform, the more profit is delegated to nonprofits doing the essential work.

With their ethos of “making society better” it’s no surprise that the mining gates have closed. There are already over 90,000 miners on Shopping Mining ™ (new user acquisition was suspended in December 2019).

The success of the project is reflected in the constant increase in the value of the SocialGood (SG) token on CoinMarketCap. The price of Social Good tokens has risen 42.85 times since they were first listed on BitMart.

Additionally, the Social Good project predicts even faster growth as the e-commerce market grows rapidly due to the current Coronavirus pandemic, which is driving the online retail sector. People shop from home over the Internet.

The project is reaching its goals:

1. In March 2019, the “SocialGood Cashback” service was launched.
2. It is the first specialized coin issuing company in Japan to join the Japan Cryptocurrency Business Association. More business model patents have been granted in Japan.
3. SocialGood has received multiple patents, including patents for its business model and for a mechanism to accumulate digital assets using credit cards and smartphone payments on the platform.
4. The company claims to have the highest “CryptoBack” in the industry.

In order for SG to maintain and increase the value of its assets, the SocialGood ecosystem is designed as follows:

1. In addition to limiting SG tokens, the company plans to avoid increasing the number of coins (caps) issued as much as possible.
2. It is designed so that the number of SG holders can increase exponentially.
3. It is designed to provide economic incentives for SG holders not to sell SG. In other words, it’s Hodler’s dream.
4. They have multiple patents both in Japan and globally, which further encourages retail cryptocurrency traders and players to buy.

Theoretically, the limit is 210,000,000 coins. But it is not set in stone as circumstances may force the issuance of more SG tokens. For example:

1. To expand the Social Good Ecosystem ™, newly issued SG tokens must provide Shopping Mining ™ rewards when SG tokens in the market are depleted.
2. Provide a reward to the team for reaching a certain market capitalization of the coin.
3. Provide incentives to partners (retail stores, etc.) who contribute to the ecosystem.
4. For other reasons, such as when SG is required to cover expenses to maintain SG’s asset value.

The SG received by Shopping Mining ™ has the following functions:

1. Similar to Bitcoin, there are supply restrictions, which are characteristic of an asset.
2. As the value increases as the number of users increases, future price increases can be predicted.
3. Like the Libra, the fiat exchange value is guaranteed. This guarantee is supported by the sale of coins (profit from the issue of SG) and the sale of advertising from partner resellers.

SocialGood is a digital asset that has benefits from both Bitcoin and Libra.

Miners who have obtained SG from Shopping Mining ™ will be able to request the operating company to buy their SG if the price goes down and can sell it on the market if the SG price goes up.

Since all application users have received SG at no cost, they will always get economic benefits.

Using blockchain technology, the transfer of value can be done smoothly and AI can optimize the flow of value.

A virtuous circle is formed that feeds the project’s Social Good Ecosystem ™, and as this ecosystem expands, SocialGood believes the more society will improve.

Download the SocialGood app on Google Play for Android and on the Apple Store for iPhone.