EMURGO - the official commercial arm of Cardano - has taken on Makers Farm, creator of distributed cashback site COINCOME for blockchain advisory. Coincome is building a revolutionary cashback system for businesses and e-commerce shoppers through which businesses can leverage Coincome’s blockchain-based tracking system, increasing efficiency in the purchase process. COINCOME has already partnered with over 600 world-famous brands and shops and has launched a live beta marketplace. Users are rewarded in cryptocurrency for simply shopping, and Coincome’s platform facilitates the spending, exchange, or transfer of the tokens.
EMURGO is actively working to support COINCOME in the adoption of Cardano as the protocol of choice in the near future in order to increase the efficiency of the COINCOME ecosystem. Cardano is the first third-generation blockchain to address scalability, sustainability, and interoperability. Thus, data-intensive systems and applications seeking to adopt blockchain solutions are best served by a protocol such as Cardano built for high throughput.
EMURGO will provide advisory services to help COINCOME conduct an initial offering of CIM Tokens, so as to distribute tokens to the community and fund further development of the COINCOME platform and protocols.
Coincome’s senior management consists of senior members from one of the biggest Japanese cashback sites with more than 10 million users, and from a leading performance marketing agency listed on the Tokyo Stock Exchange. COINCOME is focused on the Japanese market, a market ripe for crypto cashback purchasing.
What issue is EMURGO helping COINCOME with?
COINCOME is planning on disrupting the cashback industry while making it fun to shop and earn crypto tokens risk-free. Though 64% of online shoppers receive rebates through cashback or coupons, 50% of shoppers find it difficult to redeem cashback options and 71% of e-commerce users complain about low cashback rates. In addition, 10% of cashback redemptions fail due to poor tracking functionality. With a market size of around $100 billion worldwide, the cashback industry is ripe for disruption.
Cookie-based tracking (most commonly used in digital marketing) is inconsistent, depending on many factors to function correctly. In addition, GDPR has given rise to questions about cookie usage and tracking. COINCOME seeks to build an open tracking system not dependent only on cookies, adapting the technology to GDPR requirements and solving tracking accuracy and data inconsistencies arising from multi-layered tag management.
EMURGO brings synergy via its blockchain advisory expertise and robust worldwide network. With experience in building and launching blockchain-based products such as 5-star rated Yoroi Wallet & Seiza Cardano blockchain explorer as well as its unique affiliation to Cardano as the official commercial arm, EMURGO is well-positioned to lend valuable advisory services to enterprises wanting to use blockchain to address actual problems.
How is COINCOME Addressing These Problems?
COINCOME has launched a live beta marketplace with over 600 tie-up partner stores and e-commerce platforms. COINCOME will integrate the COINCOME shopping platform with its blockchain-based open tracking system and distributed ledger cashback management system, both under development.
In addition, COINCOME is building an advertising ecosystem to deliver high-impact, verifiable ads to shoppers. Shoppers and users will benefit from airdrops and token incentives while businesses benefit from increased ad efficiency, tracking, and delivery tools.
COINCOME will use smart contracts to bring value to its users by:
・Allowing users to explore crypto with mitigated risk while shopping on sites they already know and love
・Creating a cashback tracking dApp to reward users for purchases
・Preventing falsification of ad data by leveraging the immutability of the blockchain
・Improving precision and credibility of advertisement results by combining cookie tracking with TxIDs and network verification
・Rewarding users for engagement and participation in tasks
・Facilitating the exchange or redemption of tokens
Disclaimer: EMURGO’s investments in or advisory activities to a client does not mean that this should be relied upon by the public as advice or recommendation to decide what trades to make. Investing in cryptocurrencies and blockchain companies involves high risk. All trading strategies and decisions are borne by our readers and clients at their own risk. EMURGO is not responsible for any outcome or decisions incurred as a result of information provided here or from any EMURGO related materials.
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At EMURGO, we are always looking to provide advisory services to clients who are looking into blockchain solutions to improve their business. Should you be interested, feel free to reach out to our team at https://emurgo.io. Don’t forget to follow our social media accounts and sign up to the EMURGO Newsletter to always receive the latest news from EMURGO!
EMURGO drives the adoption of Cardano and adds value to ADA holders by building, investing in, and advising projects or organizations that adopt Cardano’s decentralized blockchain ecosystem. EMURGO leverages its expertise in blockchain R&D as well as its global network of related blockchain and industry partners to support ventures globally.
EMURGO is the official commercial and venture arm of the Cardano project, registered in Tokyo, Japan since June 2017 and in Singapore since May 2018. EMURGO is uniquely affiliated and works closely with IOHK to grow Cardano’s ecosystem globally and promote the adoption of the Cardano blockchain. To learn more about the project, visit the EMURGO website.
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