Company branded coins, real world use

[tagbond]

I created Tagcoin a year ago (hybrid PoW, PoS), no premine, no ideas to get rich from it - it was purely a marketing exercise to see what would happen, and to use within our rewards system. Things didn't go quite to plan - merchants prefer the points system to the unpredictable crypto, and we had to drop support for cryptocurrency in our digital wallet system at Tagcash (at least for now), due to Central Bank advice while we go through bank licensing process in Philippines. Since I have already invested over $3.5m (mostly for capital requirements to become an approved EMI in Philippines), it was prudent to follow their advice. Our market is not crypto currency but the $20 billion remittance market, the digital wallet market and outside of the Philippines a loyalty reward and affiliate platform.

As far as tagcoin is concerned, we need a way to pay out our referral and affiliate points (merchants buy Tagcash points, and we give a percentage of those points to users who share the adverts on facebook, twitter, and other sites, a bit like google adsense). Since we don't have MSB licensing in USA, or EMI license in Europe (yet), then we will be paying out in Tagcoin that users can immediately sell back to us for BTC if they want (at slightly lower price than Cryptsy etc), sit on them and make 5% interest per year, or sell to a merchant who can buy more tagcash points and the cycle repeats.

I know we could use Bitcoin, but we wanted to have our own branded but decentralized coin. The real world use for us is there - we don't have bank accounts all over the world to pay users, we don't want to (or in some cases cannot) use Paypal, we cannot pay into digital wallets (internally) with real money or crypto in USA (no MSB), we cannot even provide digital wallets in India due to RBI restrictions, but worldwide we can use the loyalty points system and pay out to external wallets, legally and with no hassle using Cyrpto. The more we grow and pay out the more Tagcoin we have to buy, and I guess the price will rise - I am not saying that we will be as big as Google in advertising, lol, but certainly over time I expect the company to support a multi million dollar crypto market cap, with a real need, not just fake pump and dump schemes.

As for investing in other coins, I would be most interested in investing in one IF there was a company behind it with a real reason for it to exist. As far as I know, 99% of altcoins go high on launch, while people speculate, and then drop like a stone. Tagcoin was no different either, but I always thought it went too high (thanks to the Chinese influence 9 months ago). Now it has a better base to work with, with a small market cap that we can use to handle our external payment system and the capability to grow with us over time.

Does anyone know of any coins like ours, used in the real world for a company or group of companies, to solve a payment problem or use for marketing?..I always thought a Samsung Coin might go down well..but they haven't commissioned anyone to create it yet.

[mojpoj]

We have been building up xxx coin.

The coin was launched two months ago, has been around 800 sats for over a month and still has decent volume.

I came on board in about week 2 as I saw the need for the coin in the cam industry.  Performers at large sites like myfreecams.com generally lose about 50% of the money they earn to the site operators.

Site operators claim high and frequent charge back fees, and bandwidth as their reasons for the high fees.  So basically, they claim the banks are charging them.

Well, crypto coins have no banks, no charge back fees, so why not use that?

Most cam sites work on a token/coin system.  Crypto coins = perfect fit.

So, I'm a PHP/MySql programmer and set out to build a Cam site that can use XxX Coins as the payment currency of the site.

It's finished and works 100%.  ~30 performers have signed up and about 200 users. 

The problem lies in getting the average user coins, they don't know anything about crypto and just want coins to pay the performers.  This week we are expecting final approval from a CC company that will allow us to sell coins for fiat.

This coin purchasing method will be in addition to direct xxx coin deposits.  (We also offer coin conversion through moolah)

So, yes, we have a coin with a real purpose. 

The XXX coin PR manager is completing an offshore business setup this week and has been working tirelessly to get porn sites to begin accepting XXX coin as a payment method.  There is also something in the works with kiiroo (google it).

Site Links

http://xxxcoin.info
http://xxxcoincams.com
https://bitcointalk.org/index.php?topic=712912

[tagbond]

An interesting model, one that I thought sexcoin would have tried to get involved with. If you have a way for users to buy your coin, and persuade the operators to take it and trade it back to you for cash or BTC, minus a commission then there is a business model there. Most users either don't want their credit/debit card to be linked to these sites, or they fear being ripped off. Using xxxcoin would resolve some of these issues...will be interesting to watch...the coin, not the performers..

[BitcoinNational]

If either of you have success, my guess is other BIGGER capitalized enterprises will follow this model you are pioneering.

The fortune 500s are still sitting on the wall, maybe a VP or 3 are paying any attention.  My guess is that the big corps are not allowed to even think this way within the inner culture of upper management.  

But stellar looks very much like paypal covertly testing the field.  Overstocked is open to the idea for sure.  But the CEO is an outsider/rebel.

Dell could be the big cannon ball ... if they offer some 'gift card' / rewards coin ... then the green light is on and it is a GO!
_{Note they will have BTC from sales to leverage and defend the price of their company coin.}  

You'll see Coke, Pepsi, Subway, Walmart, and Verizon coins launching as fast as the devs can copy pasta.  My guess again is the USA corp banking system will have to develop in-house BTC financial services divisions first to facilitate the financing.  _{This might be the Lawsky wet dream ... the USA corp banking system controlling BTC entry by regulatory capture and getting fees for maintaining Fortune 500 'reward' cryptos.}

Then 'Tagbond' will they be so kind as to feature you on the cover of a major business mag?  

[tagbond]

I have no interest in being famous for doing anything. I'm happy to change the country I call home and improve the lives of a few people, and perhaps make a profit at the same time. The rewards system should change, and if I can suggest a few ideas to make that happen, then great. But I think crypto should have a reason to exist other than pure speculation, with nothing to back it other than pumps and dumps.

If crypto could be like shares in a company AND used as rewards within that company at the same time, then you invest in that company without having to go through the stock exchanges...just a thought.., but I guess the SEC in any country would have a little to say about the public companies who might want to do that - however, nothing stopping other non public companies doing it without going through the rigmarole of going public, they can raise money through a premine, or just use it for marketing purposes...

[BitcoinNational]

Well I think you should be recognized if/when cryptos do become part of the 'traditional' business payment and accounting systems.  

Hope you keep us updated regularly on plans, outcomes, and other events.  

I already think of cryptos as shares.  (bank notes as shares too)

If I accept Mexican pesos, then I am investing in the Mexican Peso Company (or whatever their central bank in named).

If I work for IBM, I could accept IBM shares as wage payment.  It's a great model, and gives you equity in the very thing you do.

Cryptos are shares for your investment in that coin.  You are investrd in the Dev team, just as you are in vested in the Dev team of any company (The Board Room).  

Only 3 coins are currency is my mind.  BTC, LTC, and flavor of the week coin.  There you have liquidity, and that is the product being produced.  

The rest are shares.  

And unless the investor thinks that 'xCoin' can be bigger than BTC or LTC, then they best examine the 'business plan' of the coin.      

TAG is slightly different, in by reversing this concept, it was a 'crypto coin plan' attached to an already functioning business.