Social Good Project is the cryptocurrency for better society
What not to love about capitalism? It has created enormous wealth and delivered millions from poverty but billions of people around the world are still living in poverty. According to French economist, Thomas Piketty, the traditional capitalist structure is divided into “shareholders (investors),” “consumers,” and “society.” Shareholders alone enjoy most of the fruits of global economic development. Now there is a new project recently launched out of Japan that is trying to solve this problem using cryptocurrency and artificial intelligence.
The Social Good Project is a global activity based on a vision of “improving society” that transcends national, racial, religious, and cultural differences, and in which all people around the world can participate. The Social Good Project targets global expansion of the world’s first social contribution token ecosystem (Social Good Ecosystem™) using the SocialGood cryptocurrency. The more participants
do what they like within the AI and blockchain-based autonomously distributed Social Good Ecosystem, the more they can improve society. Social Good Project is made up of teams of Harvard scientists and professionals with strong background in computational artificial intelligence and finance.
Social Good Foundation announced today the launch of future tokens (“SAFT”) to fund the development of its Social Good Ecosystem. Social Good Foundation Inc. plans to raise up to USD 500 million in the private placement of SAFTs and the subsequent initial coin offering (“ICO”). Social Good Foundation Inc. also plans to build a blockchain-based marketplace, the Social Good Ecosystem™, that will connect shoppers with selected retail partners. The Social Good Ecosystem will enable giving shoppers a hassle-free way to receive cash back, and automatically donate part of their savings to charitable organizations.
SocialGood holders can receive Cash Back payments every time they make purchases. For example, Social Good member can receive a USD 50,000 Cash Back payment for purchasing a home for USD 500,000 or USD 5,000 Cash Back payment for purchasing a car for USD 50,000. SocialGood is designed such that the longer you hold it, the higher the Cash Back rate goes.
Sorry US investors, SocialGood will only be available to U.S. accredited investors. Sales to Japanese residents are expected to begin in or after November 2018. Social Good Foundation Inc., will start crowd sale of Social Good immediately to other countries except China,
Social Good Foundation Inc. plans to have the SocialGood listed on cryptocurrency exchanges, both in Japan and abroad. Listing is scheduled to be completed by the end of December 2018. Social Good Foundation Inc. has structured its private placement of SAFTs in reliance on an exemption from the registration requirements of the U.S. federal securities laws, including Rule 506(c) of Regulation D under the Securities Act of 1933, and filed Form D with the SEC on April 18, 2018.
“We are excited to be the first Japanese company to have filed Form D with the SEC in connection with a private placement of SAFTs in the U.S.,” said Soichiro Takaoka, CEO of Social Good Foundation Inc. “Social Good Foundation Inc. plans to offer an innovative technology to create a marketplace at the intersection of blockchain and artificial intelligence,” Mr. Takaoka added.
You can read more about Social Good Project whitepaper here.