TAGCOIN: PHILIPPINE STARTUP LAUNCHES THE WORLD’S FIRST UNIVERSAL REWARDS CURRENCY

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TagCoin, a cryptocurrency designed to fit right into a ready ­market, recently enjoyed a successful launch last October 27. A first of its own, being both as the first universal rewards currency and as a product of a Philippine ­based startup, TagCoin is currently making waves just a mere 4 hours after the official release.

Filipinos nowadays are familiar with points ­centered loyalty programs. Mall Rewards Cards (SM Advantage), Gasoline Cashback Cards (Shell Cards) and even Coffee-shop Loyalty Cards (Starbucks and Swirl Cards) are commonly given out to customers, as a way to generate return business. The only problem is, a person’s points is limited only to the organization he/she is attached to.

On the other hand, cashless transactions using another point ­focused system is also gaining traction in the public. Mobile Cash Remittances (GCash and SmartMoney) and Points Conversion to Cash Counterparts (SM Advantage and GCash) are fast, safe and easy ways for customers to make the most out of their money, by having everything stored digitally. But then again, the thought of having physical money stored as virtual numbers can prove to be a scary
thought, especially for the majority of locals preferring to hold cold, hard cash.

In essence, TagCoin works both ways. It merges the best out of rewards and real cash programs. It is two sides of one coin, a loyalty program used to generate engagement, and as coin used as a medium of exchange.

What Makes TagCoin Special?

TagCoin, unlike any other cryptocurrency, has these factors:
Rewards­ Centered ­ 10,000 coins will be given out as rewards coins for TagBond user referrals. These coins can readily be used as a cashout option, or for TagBond features (communities & TagVerts). Creating a TagBond account is free.

Ready EcoSystem ­ TagCash will be used as the primary currency for TagBond (and other affiliate sites such as TagCash, a payment platform). This is entirely different from any other cryptocurrency in the world (cryptocurrencies are always being developed, with most having no ready/practical use yet). That said, bridging a TagBond Community with TagCoins can create a very unique and open way to reach out to any kind of market.

Transparency ­ unlike BitCoin (considered to be the biggest and “mother” cryptocurrency), TagCoin founder, developers and/or staff can be contacted. Open conversation and discussion is promoted.

Fairness ­ one earns cryptocurrencies either by mining (computer/s solving algorithms to get coins) or through trade. TagCoin makes sure that mining difficulty is set at a reasonable value, so that there would be no unfair advantage (difficulty also varies, depending on how many miners are working).

TagCoin offers a rewarding option to users who make use of it. Used as a rewards option, massive customer engagement is introduced, with TagCoins accepted on a myriad of communities. As a way to earn, TagCoin does not disappoint: one can always have the option to cashout (with the perk of prices rising, dependent on how many people make use ­ and create value ­ of the cryptocurrency).

Mark Vernon, TagCoin’s founder, first came up with the idea of creating a unique currency when working on his main project, TagBond. TagBond is mainly a conglomerate of ideas from Multiply, Google Adsense, Groupon and Paypal. Using marketing modules called Tagverts (coupons, prize draws, polls/surveys, mini shopping carts, loyalty cards, competitions and more), an easier way to connect and reward customers is introduced. RFID, NFC and QR code technology are integrated in the system, providing a seamless and alluring exchange of data. As a membership & rewards platform, TagCoin (and other cryptocurrencies) comes into the picture as a valuable medium of exchange, not just as a mere commodity.
Tagbond is registered with Fincen, and is working with the Bangko Sentral to become a licensed money issuer. Current banking partners are Standard Chartered Bank and UnionBank. Tagbond and Tagcash will work with other partners as needed for licensing in Europe, USA and other countries.

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Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

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