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.