The Social Good Foundation Inc. was approved to join as a regular member of the JCBA, aiming to become the first altcoin issued in Japan on Japan’s exchanges.
TOKYO, OUTSIDE U.S./CANADA, JAPAN, May 17, 2019 /EINPresswire.com/ — The Social Good Foundation Inc. (Location: Tokyo, Japan, Soichiro Takaoka, Chief Executive Officer) was approved to join as a regular member by the Japan Cryptocurrency Business Association (JCBA), whose board of directors come from many leading cryptocurrency exchange organizations. It could become the first altcoin issued in Japan on Japan’s licensed exchanges. As a rare altcoin for Japan’s residents, which make up over 50% of the world’s cryptocurrency demand, SocialGood will continue to discuss the timing of listing on the Japanese market with relevant parties.
【The Context of the Approval and Japan's Cryptocurrency Industry Trends】
In 2017, more than 50% of the demand for cryptocurrency in the world came from Japan’s residents, but due to administrative orders imposed on cryptocurrency exchange companies by Japan's Financial Services Agency (FSA) in 2018, Japan's market shares have temporarily decreased. However, Japan’s cryptocurrency industry has since entered into a new world-leading stage of expansion after the FSA proposed to make amendments to the CryptoAssets-Related Act in March 2019.
Since April, companies owned by megabanks and major trading companies, and major internet service companies etc. have entered one after another as licensed cryptocurrency exchanges, and are actively advertising. In addition, major convenience store chains will be able to receive cryptocurrency transactions from May. While cryptocurrency transactions are widely pervasive in society in general, competition continues to intensify. For this reason, cryptocurrency exchanges are trying to increase the number of cryptocurrencies they list on their exchanges in order to differentiate themselves from other companies.
The cryptocurrency SocialGood, which was issued outside of Japan on March 2019, was approved to be listed on major international cryptocurrency exchanges, and has already been handled by their overseas entity to exclusively serve residents outside of Japan. SocialGood, as a unique cryptocurrency whose value is backed actual business transactions, was published in Forbes etc., and has attracted international attention with over 40,000 overseas residents who own SocialGood.
With this in mind, the Social Good Foundation and cryptocurrency exchange companies in Japan have been discussing the timing of when SocialGood should be handled by the entity in Japan (in a way at which it would be "whitelisted"). Currently, as the first step, the company has become the first cryptocurrency issuing company in Japan to be approved as a regular member of the Japan Cryptocurrency Business Association.
【What is the SocialGood Cryptocurrency?】
When shopping at partner sites such as Amazon and Apple, customers can get up to 20% of their purchase price in cash back for free with SocialGood tokens (cryptocurrency/DigitalGood).
The SocialGood that was received for free can be converted into fiat currency on major exchanges. Alternatively, it can be held as an asset for the longer term in anticipation of future price increases. As the number of SocialGood holders increase, there is a mechanism at which the value rises (international patent applications have been filed).
■Forbes Published an Article Referencing the SocialGood Cryptocurrency's Price Raising Mechanism
■SocialGood is to be Listed on Major Cryptocurrency Exchanges
■Partnering with Amazon and Apple, SocialGood Cashback is Launched
*At the current time, the above service is not available to residents of Japan.
*SocialGood is a utility token. It is not a security token.
【The Background of the Birth of SocialGood Cryptocurrency】
Within capitalism, people with assets now can increase their future assets even more. Many people in the world do not have so many assets at this point, and the gap is widening. This issue was recognized as a global social issue among leaders of each country at the World Economic Forum (Davos Conference).* The Social Good Foundation Inc. offers a solution to this problem.
*January 21st, 2019, "Economy for 99%"
Backed by AI and blockchain technology, the Social Good Ecosystem™ is a global shopping network where consumers can shop at the lowest prices in the world while simultaneously building their assets. In this ecosystem, a portion of the revenue generated is automatically donated to social contribution organizations.
How does the value of SocialGood rise?
【About the Social Good Foundation Inc.】
Social Good’s mission is to improve society.
By creating a new flow of money, we are reducing global inequalities.
Social Good Foundation Inc.
West Tower Otemachi First Square
1-5-1 Otemachi, Chiyoda-ku, Tokyo, Japan
Member of the Japan Cryptocurrency Exchange Association
Registered with the US Securities and Exchange Commission (SEC)
【About the Japan Cryptocurrency Exchange Association】
The Japan Cryptocurrency Business Association (JCBA) is based on the Cryptocurrency Business Study Group (the Study Group). As banks and financial instruments business operators commenced the crypto currency business, the Study Group was established to conduct research/study, consolidate knowledge and exchange opinions regarding technology, accounting, regulation and business practice to encourage a sound development of the industry.
Source: EIN Presswire