The Social Good Foundation Inc. was granted the Cryptoassets Point Return System Patent in Japan.
Social Good Foundation is based in Tokyo, Japan and is formed to improve society by inclusion of Cryptocurrency in the ecosystem. It is working to build a Social Good Ecosystem TM that facilitates a win-win for all individuals, society, and companies by connecting the world using SocialGood Cryptocurrency.
Used by Major International Retailers
The increase in the consumption tax and the popularity of cashless payments has become an urgent issue for retailers to develop some promotional measures like point systems that are user-friendly and price effective for consumers.
The Point Return System provided by Social Good Foundation requires no initial investment and no running cost for retailers. It works to provide higher benefits than cash and ordinary point systems for consumers. It also contributes directly to sales by attracting consumers. SGF launched this service in March this year and have major e-commerce giants such as Alibaba, Amazon, eBay, and Apple as its partners.
After this patent, SGF is expected to start receiving an application from retails within Japan for its Crypto Asset Point Return System.
The conventional systems for points have numerous problems like low return, expiration, limited use, etc. SGF’s point system tackles these and provides the following benefits:
- Free SocialGood Crypto for shopping with a retailer
- Business Model patent granted by Japan allows SG’s mechanism to increase asset value with increase in users
- Users can sell SG if its value rises. In case of decline, users can ask SGF for a buy-back
It also offers numerous benefits to consumers and retailers that align with its vision to create a Win-win ecosystem for everyone.
Advantages for Consumers:
- Greater Economic profits for consumers with expected rise in SG’s value
- Instant Exchange of Cryptos at Cryptocurrency Exchanges at low cost
- The mechanism can be effective globally
- Zero cost is incurred by the consumers leading to economic profits
Advantages for Retailers and Companies
- It lets users earn economic profits. Hence, the company or retailers don’t face issues.
- It can be used to attract customers globally including from Japan to their stores or websites.
- No initial cost or monthly fee is charged right now. The commission is paid only when items are sold, so there are no advertising or promotion failure risks
- The value return to the customers is with the expectation that the value of crypto-asset will also increase. So the retailers can expect to attract more customers and high-cost performance.
The Social Good Foundation is working towards the adoption of crypto assets and this patent is a step forward in the same direction.