JCASH is the cryptocurrency used on the JiojioMe's application. The JiojioMe app is a social app that combines and benefit users, merchants (businesses), and advertisers. JCASH works on a Proof Of Activity (POA) consensus where users get rewarded daily based on their level of activity within the app and the Jio Market is where users may use their JCASH to buy goods and services Merchants (Businesses) provides.
The JiojioMe App is an integrated social interaction platform that connects users to each other, and nearby merchants based on their location and expressed interests/activities. Once connected, users can “jio” (a colloquialism meaning “casually invite” in the Hokkien dialect) people for interactions and activities, choosing from promotions, discounts and vouchers made available directly by retailers who are advertising on the platform.
JCASH is issued to incentivize users on the platform, upon successful achievement of milestone tasks (daily logins, posting recommendations, etc.). It is awarded based on our Proof of Activity (POA) consensus, rewarding users for their active app usage. When awarded, JCASH can be used within the Jio ecosystem to make purchases of goods and services, or be cashed out through an exchange or our over-the-counter (OTC) platform.
Advertisers may target their advertisements to users based on their hobbies and liking and may even choose to pay users JCASH for viewing their ads. The JiojioMe app will benefit users as they enjoy special promotions/discounts from merchants, merchants will benefit from higher customers patronisation rates and customer retention rates, and advertisers will benefit from giving ads to users.