Info Tech: CASHBAG.CO-THE CASH BACK CRYPTOCURRENCY

Retail ecommerce sales will increase from $1.095 trillion in 2016 to $4.058 trillion in 2020, making up 14.6% of total retail spending in that year . Unique cryptocurrency wallet user base has grown to over 5.8 Million unique users in 2017 , excluding wallets held in exchanges which may contribute even higher numbers.

Between Bitcoin and Ethereum alone there are over 31 Million unique wallets and the total cryptocurrency market capitalization exceeded $160 Billion in October 2017.

These trends prove that the adoption of tokens and cryptocurrency as a unit of stored value is rapidly becoming mainstream. In a decentralised economy, democratising (rather than concentrating) ownership via incentives creates value.

What is CashBag?

CashBag.co is a transactional cash back aggregator that rewards customers with cash back when they shop at participating merchants.

The site launched publicly in 2016 and has 135,000 members and over 500 merchants.

Purpose

The purpose of the token sale is to enable instant settlement of cash back rewards by leveraging the Ethereum Blockchain for settlement.

There are several distinct advantages to implementing ERC20 tokens for instant settlement, including lowered cost of operations, immutable record keeping and global reach and adoption.

CashBag is creating the CBC Token (CashBagCoin) which is used to reward members for transacting through the platform and enable advertisers to instantly reward members for approved transactions.

Customers earn the CBC tokens by engaging with advertising & transacting online. Advertising services are sold through the redemption of tokens. These tokens are earned by the members who transact with merchants through the platform.

Token Issue

CashBag operates in multiple global markets. We have a roster of over 150 active advertisers, with more than 685 in the queue for integration. We expect to expand to include 2500 merchants by Q2 2018 as we enter more territories.

Members earn cash rewards when shopping online at participating merchants. These cash rewards are paid by the merchant and tracked by CashBag through our sale tracking integration with each merchant. New members select from a base set of currencies including USD, EUR, AUD, GBP, ZAR with support for more currencies being added as we enter new markets.

Members can earn CashBag sponsored incentives based on their activity, transaction volume and social sharing of the platform. By integrating our wallet to blockchain settlement we create a mechanism to speed up cash back settlement and incentivize our members by allocating them a token with a real world supported value which can be traded, redeemed and used across any ERC20 wallet supporting partner.

Members can opt to receive their cashback in their native currency or convert at ruling market price to CashBag Tokens and store their savings in our ERC20 compliant wallet. Similarly, they can cash in their CashBag Tokens and receive fiat payments in their native currency.

Token Use

Learn more

Token Sale

CashBag is conducting a Token Sale for advertisers & early adopters of the
technology, issuing 120M tokens and intends selling tokens to the value of $15M with a maximum cap of $30M.

CashBag will accept CBC tokens for CashBag advertising services at the minimum issue price of 0,000166666 ETH per token (6000 tokens / ETH).

Roadmap

2014-2015

Core CashBag.co Application Development and Alpha MVP

BizDev secures initial +100 merchant partners

Beta development & live site launch.

2016

CashBag Soft Launch South Africa

Organic growth to 180 merchants

Development Continues

Platform supporting Multicurrency Wallet Development

Desktop toolbar Development

Q1-Q3 2017

Stage 1 Targeted Customer Acquisition (EMEA / USA / APAC)

Investigate high yield focus markets for expansion marketing plan.

Android App Launch

Merchant base growth to +500

User adoption growth to 130,000 members

Scale staffing, systems and business processes

Planning for product evolution to decentralized architecture and blockchain implementation.

Tokenonomics finalization & implementation research.

Build MVP advertiser smart contracts.

Q4 2017

Token sale architecture & smart contract development including token buyer/ member wallet launch.

Q1 2018

Advertiser Transactional Advertising & Member Wallet Integration

Launch Advertiser Self Service Portal including wallet enabling token-to-advertising transaction processing and currency = CB swaps through smart contracts.

Launch expanded member interface showing token values, cash and cash equivalent values and tools for executing swaps, redemptions and withdrawals.

Q2 2018

MarketPlace & Core Market Expansion

Launch CashBag marketplace, integrating merchant data feeds with 150,000 distinct products.

Launch AI Natural Language UX independent shopping assistant

Stage 2 Targeted Customer Acquisition (EMEA / AUS / NZ)

Q3 2018

Native Ad Engine

Launch ad engine including audience targeting, ad creation and redemption of CBC for advertising spend using smart contracts to execute advertising buys on the platform

Stage 3 Targeted Customer Acquisition (US / CA)

Q2 2019

Launch Debit Card

Launch linked Debit Card in US Market, with other markets to follow

Beyond

Extend marketplace to enable members to list and sell their own goods in a secure, high trust environment using smart contracts to execute and guarantee transactions and delivery.

Add Social Tools, enabling direct peer-to-peer (member-to-member) communication & transactions, including gamification elements to drive adoption, usage and social sharing of the platform, merchants and products featured on it.

As cashbag evolves we envision the service becoming an invaluable and trusted part of members everyday life.

Team