CashBag: The CASH BACK Cryptocurrency

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Today we observe the expansion of online shopping. It's unsurprising as such a way gives people an opportunity to save their time and money. Most costumers who prefer to shop via the Internet are looking for possibilities to save their earnings and one of utmost convenient ways to do that is cash back. In a current situation, purchasing products on cash back websites is an easiest and most popular ways amongst the consumers to save some money. Such websites give a reward when buyer clicks through them to purchase something from different online merchants. The reward can be an established sum of money or it can depend on the price of the product.

It seems that such a way to save earnings is convenient, still when it comes to receiving these sums people face difficulties. For instance, processing fees take almost all the sum of saved money. One project called CashBag decided to establish such a cash back website that will solve the current problems that consumers face with cash back.

What is CashBag?

It's a website that suggests a service that makes it possible for users of the site to earn cash back money on all purchases made at any registered on a platform merchants. Website gives an opportunity to everyone to join and conveniently use the site and enjoy its advantages, to participate you only need to enter current e-mail address and receive a password.

CashBag makes sure that no personal information would be stolen and sold to third-parties. The team's main idea is to create such a platform that would be easy to use in earning rewards from participating retailers all around the world. The objective of the organization is to make this website as much safe and secure as possible. To accomplish this task, team used Ethereum platform — a system that uses block chain mechanisms. The usage of this platform does not imply downloading or buying specific software for your device.

How it works?

People need a system that will provide a simple and easy to use interface. CashBag established such a system, it provides its users with an ability to collect and track their rewards. Website operates on Ethereum block chain since it empowers the site with a possibility to use smart contracts to minimize the fees and time for verifying transactions.

The team established internal digital currency called CBC tokens (CashBag Coins). Currently, CashBag functions in a number of worldwide markets. Organization claims to have a list of approximately 150 active participants and there are almost 700 of those parties who would like to join the project. CashBag desires to grow the total number of active merchants to a number of 2500.

CBC tokens can be used on the platform for various purposes such as paying for advertising, trading the token, sending tokens, earning incentives, collecting gamification rewards, for using wallets.

A user can enjoy the advantages of cash back using devices, such as, laptops or smartphones. CashBag supplies its users with Android based application and iOS based applications for Android based and iOS based devices.

The CashBag system supplies shoppers with a list of active merchants all around the planet. This expands the opportunities of receiving revenue from purchasing different products. The goal of this entity to increase the list of participating companies ensures that in the near future consumers will have the ability to save money literally on every purchase they commit. Those participating entities admit to share revenue based on purchase profit achieved by online buyers. CashBag integrates directly with merchants and is capable of reporting purchases in real-time, it also has the ability to almost instantaneously send cash back to its members.

If you are a buyer and you use this system, you earn a reward through buying goods online from those companies who participate in this program. Then cash rewards that you earned are paid by active entities and CashBag traces them and sends money to your wallet. You can choose in which currency you want to receive your reward.

Team

Roadmap

2014-2015: Core CashBag.co Application Development and Alpha MVP

2016: CashBag Soft Launch South Africa

Q1-Q3 2017: Stage 1 Targeted Customer Acquisition (EMEA / USA / APAC)

Q4 2017: Token sale architecture & smart contract development including token buyer/ member wallet launch.

Q1 2018: Advertiser Transactional Advertising & Member Wallet Integration

Q2 2018: MarketPlace & Core Market Expansion

Q3 2018: Native Ad Engine

Q2 2019: Launch Debit Card

Summary

Online shopping is convenient for all groups of individuals since there are no geographical limitations which enable buyers to purchase whatever product they like from any country. Shopping via the Internet also gives people an opportunity to save their earning using cash back websites. Still, there are some difficulties concerning receiving the rewards.

CashBag plans to fix the problem of collecting money. It gives a possibility to draw these rewards without paying unreasonable processing fees that take almost the entire sum of the reward. CashBag uses Ethereum block chain that eliminates the need in a mediator in such a way minimizing the fee. This enables users of the platform to receive saved cash in the total amount instead of the tiny part of it left after processing fees are collected.

CashBag has a goal to enlarge the list of active merchants so that in the near future consumers will enjoy the opportunity of collecting cash back from all the purchases they make.