X-widget has pokrenut a blockchain-based initiative, SToken, which rewards users with a token as they spend money on the platform. X-widget has formed a global community, S-Members, that will host users from various parts of the world.
X-widget, a blockchain-centered business development, and payment firm has decided to enter the token economy. In this economy, consumers are paid depending on how much they spend.
Also, the firm’s project will allow consumers to receive 10% of their purchases. In return, it gives them a discount of 10%.
The goal of X-widget is to attract over 100 million users from across the globe by 2024. However, over 1,000 stores and 800,000 users from Vietnam and Korea have joined the SToken project.
In addition, the company will expand to other consumers in Southeast Asia. Hence, the firm launched S-Members, a Web3 platformi.
This platform rewards the various stakeholders: customers, operators, and suppliers. This reward is based on how often they participate in the system.
X-widget’s S-Members platform is embedded in Master Bank, a mobile cold wallet. This wallet serves as the system’s gateway. In addition, it has a customer service assessment system, a reservation system, and a messenger service.
SToken is a platform that allows customers to obtain rebates from S-Members’ stores. The currency option on the platform adjusts automatically based on the specified language and location.
The platform is available in Vietnamese, English, and Korean. Users can register business images, leave reviews, use alert systems for hot sales and follow shops before the year ends.
The CEO of X-widget, Kim Seong-un, said the company plans to attract users from Korea, Bangladesh, Indonesia, Vietnam, Thailand, and Cambodia to join the S-Members community. Additionally, he expects the startup to be worth more than $10 billion in the future.
As more individuals join S-Members and STokens usage increases, the firm will sell the STokens on its exchange. After that, it will donate the revenue generated to NGOs. These records will be on the blockchain for others to see.
Furthermore, S-Members’ goal is to conserve nature using the Web3 project for member stores and consumers. As a result, X-widget will partner with a Korean-based global environmental NGO.
Both entities will launch a donation project, “Blockchain NGO Plastic Island,” where ships will gather plastic waste from rivers before flowing into the ocean. Afterward, technology will be used to convert them into petroleum.
Meanwhile, X-widget will use money from selling the products to expand the project. It will build more vessels to gather wastes from estuaries and landfill islands in the Atlantic, Indian Ocean, and Pacific.
In conclusion, Kim said the SToken initiative would give participants of the project incentive tokens. These participants can exchange the tokens for intangible or tangible items.
X-widget’s primary goal is to develop a community where individuals can use digital assets while contributing toward environmental safety.
Source: https://crypto.news/x-widget-a-blockchain-firm-to-enter-token-economy-using-stokens-project/