cosquare Launches Digital Currency for Consumers and Influencers

Sat Sep 15, 2018 - 4:42pm UTC

A social marketplace using blockchain technology to liberate brands and empower consumers and influencers.

Zug, Switzerland- 15 September, 2018- cosquare AG (cosquare), officially launches today its CSQ currency for payments and rewards on the cosquare social shopping platform.

The Swiss company proposes a global social marketplace with its own digital currency, serving consumers, influencers and brands. The platform transforms online shopping by merging the worlds of blockchain technology, social media and e-commerce.

“cosquare is on a mission to make shopping truly social and rewarding for people and brands. We want CSQ to become the number one currency for online shopping,” says Duco Hiensch, Founder & President.

The CSQ currency, run on the Ethereum blockchain, works as a medium of exchange for products available for purchase on cosquare.

“CSQ’s value lies in the fact that it can be used to buy anything sold within our social shopping universe. Unlike some of the leading cryptocurrencies, CSQ has a social function like money,” adds Hiensch.

Anybody can earn on the cosquare marketplace. Every user is both a consumer and influencer with the power to impact the buying decision of others. Users can spend CSQ to buy products and are rewarded CSQ for their social activity and loyalty on the platform. cosquare also gives users the opportunity to opt in to monetise their own data and earn CSQ. Users can gift CSQ with peer-to-peer transfers available within the ecosystem.

For brands, the cosquare social marketplace demonstrates a range of benefits over other e-commerce platforms. cosquare facilitates brands to sell direct-to-consumer, bypassing the wholesale distribution system.

Unlike existing social platforms, brands benefit from direct conversion within a social environment. Brands get to know and engage with their social following and can accurately assess their marketing ROI on cosquare.

A blockchain-driven, decentralised influencer agency portal within the closed-loop ecosystem will enable brands and influencers to agree smart contracts to market product on cosquare.

“cosquare offers benefits to all stakeholders. We create a richer shopping experience for a generation of social media users,” states Louis Thiers, co-Founder & Vice President.

cosquare’s ICO token sale will run from 15 November 2018- 14 February 2019, with the pre- ICO running from 15 September  2018- 14 November 2018.

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This news is published on Reuters.

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