Online retail is booming. The size of the eCommerce market is projected to reach 4.9 trillion USD by 2021 – an increase of 2.7 trillion USD in just four years.
Digital shopping is winning. Traditional, physical stores have started digitizing their offerings to compete and stay relevant. Online shoppers demand faster, easier access to an ever-wider array of products.
Consumers are also increasingly enticed by incentives. There’s an industry in itself for cashback, coupons and rewards, estimated to represent a 100 billion USD market globally with annual growth of around 20%.
Shoppers tend to buy more if they can combine their purchase with a big reward. But today’s offerings often fall short of expectations, paving the way for a better approach that harnesses blockchain technology.
COINCOME - the blockchain cashback solution
COINCOME uses blockchain technology to bring new life to the eCommerce rewards industry with an ecosystem for better rewards, improved cashback tracking and a utility token (CIM) that further enhances the shopper experience.
With already more than 800 retailers and brands on the platform, shoppers have ample choice and opportunity to shop and be rewarded.
By leveraging a wealth of experience in the retail sector, COINCOME offers cashback rebates that are up to five times higher than some competing sites. There are currently open beta versions of the platform for shoppers in Japan and Singapore.
The CIM token
The ecosystem relies on the CIM token. Cashback rewards can be converted into CIM tokens and credited to a wallet. The amount of CIM you hold, combined with active usage of the site, increases your cashback rates and potential bonuses.
Additionally, COINCOME will launch its unique blockchain-based advertising tracking system. This new technology can be used to fight advertising fraud, and also help to mitigate the loss of tracking information due to the personal information protection policy set out by Apple on its devices while remaining compliant with GDPR. Providing a more accurate, efficient, and reliable advertising tracking system to benefit all members in the ecosystem. COINCOME can also offer additional data marketing solutions for advertisers who choose to use CIM to pay for advertising fees. This has already gained traction in Japan and has been adopted by one of Japan’s big advertising companies. Please see this link for more details.
Also, this applies not just to individual investors or COINCOME users, but also companies who engage in digital marketing globally. All parties involved can enter CIM’s economic zone, and this will be expected to create significant liquidity for the future.
COINCOME is also combining a blockchain-based cashback ledger management system and token exchange system as a DApps package to prevent data inconsistency due to operational inefficiency, unauthorised login and data manipulation attacks. Currently, an open-sourced cashback system with a faster rate of cashback recognition is in progress.
With the CIM token, holders can enjoy the inherent benefits of any cryptocurrency - low fees and borderless transactions, hence there is an excellent potential for business expansion to cater to the underbanked in the Southeast Asia region. In the future, the COINCOME team aims to work with partners to allow users to use CIM to top-up debit cards, which can be used for online transactions. COINCOME in Japan already can convert CIM points to airline miles from ANA, JAL and also LINE Pay, Rakuten Edy, Amazon and iTunes gift cards and more. The next steps are for COINCOME Singapore to be able to exchange rewards like airline miles and top up payment cards as well.
This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money, particularly if you trade on leverage. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose.
Providing liquidity for the crypto economy.