Qashback will be launching their token public sale on 10 December 2018. Today, we are going to talk about QBK tokens and Qashback’s public sale event. Before we delve into token details, let’s have a recap on problems facing the online review industry and how the Qashback platform aims to overcome these challenges.
In the previous articles, we discussed how limitations in conventional online review systems lead to problems such as polarisation bias, censorship, persistent fake reviews and privacy control issues.
These factors reduce the credibility of online reviews as an effective tool for online reputation management and create an inaccurate depiction of brands that make it difficult for consumers to draw a proper conclusion from the online reviews.
We also shared how Qashback’s platform can overcome these flaws by leveraging on the features of blockchain technology to provide a trust-less ecosystem where merchants reward customers with Qashback Tokens (QBKs) for taking the effort to share their experiences on the QB platform.
Furthermore, merchants can use QBKs as rewards to incentivise customers to participate in branding campaigns such as viewing advertisements, entering a contest or take up a marketing promotion.
Finally, we learnt that QB utilises smart contracts in order to deliver on the above features and provide solutions to the flaws of the current online review systems. Smart contracts make all transactions between consumer and merchant self-executing and immutable, meaning they cannot be modified or deleted.
Because a smart contract is used, the reviewer is then assured that the merchant will reward him for posting a review as agreed, regardless of his personal views.
Qashback’s Token Public Sale
A total of 1 billion (1,000,000,000) QBK tokens will be minted in the Token Generation Event, of which 10% (100 million) of all tokens are available for public sale. A further 150 million tokens is set aside for the team and its advisors, while the remaining tokens are held under the reserve pool to be released to the market in the near future when the business scales and there is increased demand for QBK tokens.
QBK tokens are available for sale during the public sale event for a price of US$0.40 per token. After open market launch, the subsequent token price will then be determined by scarcity (number of tokens in supply), liquidity (number of token holders) and utility (how QBK tokens are used within the ecosystem).
The QBK tokens will be listed first in UDAX Hong Kong on January 5 2019, with plans to list in other top exchanges such as Coinsuper, Dobi Trade, Upbit and LAToken in Q2 and Q3 of 2019.
For more details, please visit the token sales webpage on Qashback’s website: https://qashback.net/token-sales/