TOKYO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Just by shopping online, users gain assets with Crypto Back from the SocialGood App, 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 to provide financial freedom to all people worldwide through their SocialGood App.
The SocialGood Team’s mission is to build the world’s largest global platform and to provide financial freedom to all people worldwide through the SocialGood App. Users earn more assets the more they shop 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 that users can earn up to 100% of their online spending back as SocialGood (SG) cryptocurrency when they purchase through the SocialGood App. SG can be traded at any time into other currencies such as Bitcoin and USDT (the stablecoin that mirrors U.S. dollars). SG is listed on major crypto exchanges such as Uniswap, Bittrex, and more. The SG market cap* recorded an all-time high of $1.48 billion USD on Jan. 18, 2020.
Users who hold their SG crypto within the SocialGood app can earn interest (staking bonus) every 6 hours, at up to 15% APY. SG can be withdrawn whenever the user needs to do so, and in the future Social Good Foundation Inc. plans to work with partnering companies so that users can make purchases using their SG crypto.
Social Good Foundation Inc. has registered over 68* patents, including their patented Crypto Back system, patented credit-card-linked crypto returns mechanism, patented algorithm optimization for multiple online stores, and more. These patents prove the unique creativity and innovation behind the SocialGood App.
From its start in Japan in 2018, SocialGood has been designed for worldwide use. Since the release of the app in September 2020, users have joined from 161 countries worldwide, primarily the U.S. and U.K. In 2021, partnerships with major companies including Walmart, eBay, Booking.com, Nike, and other popular websites led to a huge spike in users, surpassing 600,000 in December 2021, and by Jan. 12, 2022, there were 1,615,104 users.*
In addition to the English version, the app added Chinese and Hindi to the available languages at the start of January 2022. More languages will continue to be added, as the goal is to reach 10 million users worldwide 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 from all over 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 U.S. and the E.U.
*The available partner shopping sites will be different depending on the user’s country.
*The fully diluted market cap is calculated as the maximum supply multiplied by the current market price.
*The staking bonus is a service to reward users with additional SG crypto in return for holding their SG in the app. The more SG that users hold in the app, the more they will receive in SG as a bonus. This is not a financial service.
*Number of patents refers to the patent claims in Japan only.
*Total of all registered users on the 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 to provide financial freedom to all people worldwide.
The majority of people worldwide do not have any assets, valuable resources that can provide future benefit. They continue to lose money every day by buying their daily necessities and therefore are in no position to build up assets for the future. On the other hand, asset owners, the shareholders of companies who are profiting from consumers, increase the value of their assets over the long term through dividends from the companies and the rise in value of their stock holdings. For example, global stocks are increasing in value at an average rate of 6.2% every year, so it could be calculated that an investment grows by about 6.1 times its original value over a 30-year span.*
In this way, capitalism works to further increase the economic gap between the few wealthy people who already have assets and most people who are struggling and unable to own assets. Experts have recognized that the automatically-expanding economic gap between most people and the wealthy few is a serious problem faced by societies worldwide. (e.g. World Economic Forum: Stakeholders for a Cohesive and Sustainable World, Davos, Switzerland, Jan. 21-24, 2019)
The SocialGood App was created to solve these societal problems and update the way that capitalism works. That is why it is a service to allow consumers to gain assets from their usual shopping, instead of just losing their money with each purchase.
By expanding the use of SocialGood App globally, we aim to make the economic gap smaller worldwide and improve society. In the future, we plan to automatically donate a portion of the SocialGood App’s Gross Merchandise Value (GMV) to organizations worldwide that have a positive impact on society and the environment.
Our Patents for Crypto Back Services
The global market size of cashback services (including reward points) amounts to $108 billion U.S. dollars.*
Unlike reward point systems of the past, digital assets (cryptocurrency) do not expire or become invalid. Users can easily convert the crypto into the currency of their choice using crypto exchanges and other platforms. The total value of all crypto transactions daily is calculated to be $100 billion USD, and this is predicted to continue to increase even higher in the future.*
When looking at the value of the assets, the ease of conversion, and the international usability, consumers will find many advantages in using digital assets instead of past point systems. So, it can be predicted that cashback services (including loyalty programs, point services, and reward services) using global digital cryptocurrency will become common worldwide.
Our company, Social Good Foundation Inc., has registered multiple business-model patents in Japan for our services providing cashback, rewards, and point rewards through cryptocurrency (a “token economy”). We have also completed the application process for these patents in the U.S., China, the E.U., India, and other regions worldwide. The SocialGood App is one example of our patented business model in use.
More details here: https://socialgood-foundation.com/news/20200610.php
Going forward, as the "point economy" of the past is replaced by a "token economy," we plan to license our blockchain-related patents to other companies worldwide. Any companies who are interested in licensing our patents or our consultation service should feel free to contact us.
*2020 Global Cashback Industry Report
*MSCI World Index data from the end of 1989 to the end of 2019 (returns including dividends)
*CoinMarketCap (Sept. 15, 2020), JP Morgan Perspectives (Feb. 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-sized Enterprises Business Enhancement Act, and in 2022 we were supported by the Japanese governmental organization JETRO.
Everything that our company does is with the belief that it will make the world a better place. Our method of changing society for the better is to connect the world with the token ecosystem, and to grow an ecosystem that will be a win-win-win situation for all individuals, companies, and society as a whole. We provide a global platform that allows people to make the world a better place and gain assets for themselves just by shopping.
Office Headquarters: 18F West Tower Otemachi First Square, 1-5-1 Otemachi, Chiyoda-ku, Tokyo, Japan
Founder and CEO: Soichiro Takaoka
Business Overview: Operating 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:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4e18b9f9-f0ca-4eb9-b24a-60cee2066d7e
https://www.globenewswire.com/NewsRoom/AttachmentNg/bf9aadbf-ccd5-4d8c-ab6c-aedf583ab198
CONTACT: Contact: Anne Clark aclark@socialgood-foundation.com
