SocialGood – an ambitious blockchain project that has the aim and potential to revolutionize capitalism as we know it today by using Blockchain along with Artificial Intelligence to create a donation machine.
All of the SocialGood Project actions are based on their belief in “making society better”. By providing consumers with assets for free, and aim on improving their lives. In the Social Good Ecosystem™, the more users purchase products, the more they increase their assets, and at the same time automatically contribute to society. Since the launch of their service in March 2019, 90,000 users have received assets. Companies such as Alibaba, eBay, Lazada, Nike, and Booking.com have joined this ecosystem and in total partnerships have been secured with over 1,860 major companies in Japan and internationally as of the end of May 2020.
As users increase, the more the value of the assets users hold will rise, and the more society will be improved. The asset that is making society better is SocialGood.
Problems faced
There is a lot of research on the current middle-class decline, particularly in Western culture, and this has been attributed to the current capitalist structure. The growing gap between the ‘haves’ and ‘have-nots’ continues to widen and create a number of social issues with it. The SocialGood team states that corporate shareholders are enjoying most of the benefits of the global economic development and that has become one-sided, where consumers pay money to companies and stockholders profit from that money.
As a result of this, the majority of the middle class aren’t getting the opportunity to participate in the economy, while the upper class continues to cleave the class system and reap the benefits for themselves. As noted in the SocialGood Whitepaper – the problem with the current capitalist system is that this economic gap will continue to widen as a small portion of asset holders monopolize the majority of the world’s assets.
SocialGood aims to solve this problem by providing an opportunity for all consumers to earn assets automatically, at no charge, while still continuing their normal purchasing habits. The goal is for as many people as possible to own their own assets, in order to live a safer and more prosperous life.
SocialGood’s Solution
Each player in the ecosystem – estimated to be around US$300 billion, receives the following benefits
- Consumers, just by shopping, can receive zero-cost investment assets. Since zero costs were incurred, everyone gains economic profits.
- Retail partners will only pay fees once an item is sold, so there is no risk and there are no initial costs or running costs, but an increase in sales.
What happens when consumers use the SocialGood Ecosystem™ App
By doing everyday shopping, users as consumers can automatically build up assets at no cost to them. As the company’s sales continue to rise the more users will increase, and the more the value of holders’ assets tend to rise. As the gross merchandise value increases in this ecosystem, more donations will be made automatically, using AI, to organizations contributing to society on a global scale in the future.
As the utility token increases (the more it gets used, held, purchased, or traded) the more value it is able to generate, and in return, more donations will be made to organizations contributing to society on a global scale, with the United Nations 17 Sustainable Goals in mind.
In terms of purchasing there is so much to choose from, and there’s no missing out on big brands. SocialGood has secured partnerships with over 1,800 international retail brands.
The SocialGood model is straightforward, rewarding users with a portion of their purchase price in SocialGood digital assets free of charge when items at their retail partners via its platform are bought. The more people use this platform, the more profits will be delegated to non-profits doing essential work. This is known as a Virtuous Cycle.
And it is due to this virtuous cycle that the project’s SocialGood Ecosystem™ is formed. As this expands, the more the foundation believes that society will improve.
Get the SocialGood app on Google Play for Android and at the Apple Store for iPhones.
Users can also use the Referral Link to invite friends and family to use the App and receive US$200 in cryptoback.
Disclaimer: This is a paid post and should not be treated as news/advice.
