The platform enables users to mine cryptocurrency by receiving ‘CryptoBack’, a unique alternative to cashback programs where users receive cryptocurrency rewards rather than Fiat payments.
CCRB, the cryptocurrency company which are developing a unique and innovative platform that enables users to mine cryptocurrency whenever they purchase products from affiliate retailers on their site, have today announced the official release date for the Phase 2 Beta version of the platform.
The new version of the platform is scheduled to be live on their website on 1st May 2018, and will offer consumers the ability to earn a flat rate of 25% of the purchase value of their products and services back in cryptocurrency, whenever they make a purchase at one of the thousands of retailers that are already linked to the shopping platform.
Upon release of Phase 2 of the platform, it will include more than 35,000 retailers that users can choose from, including many of the world’s biggest brands such as Aliexpress, booking.com, Shutterstock and Adobe.
The products that are available to purchase through the shopping platform span a huge range of various categories, including everything from household goods and commodities, through to luxury items and expensive, niche goods.
CCRB will further enhance the product offering on the site through partnerships with other operators in the space, and they have recently confirmed one such partnership with BBX, a world-wide business community that operates across 14 different countries, which will add a further 90,000 new retail merchants to the platform. BBX was established in April 1993, and is the largest business community of its type in the world, with over 97,000 card holders and 250 staff.
“The Shop & Mine platform is being developed to make mining cryptocurrency as quick, easy and accessible as possible, so that anyone in the world, no matter what their level of expertise or technical knowledge, can start accumulating cryptocurrency in just a few simple clicks, just from buying the products that they would otherwise from the retailers, brands and websites that they already know and love” commented Subhash Manuel, CEO of CCRB. “We have been developing the Shop & Mine platform for some months now, and to finally see it come together and experience real-life consumers using the platform and instantly benefitting from getting cryptocurrency back when they carry out their shopping is extremely gratifying, after all the hard work and time that has gone into the platform so far”, he added. “We can’t wait to see many, many more people actively using the platform and starting to mine cryptocurrency in this quick, easy and innovative new way over the coming months”, he continued.
The company have already successfully carried out some live testing on a Phase 1 version of the platform, with numerous users who were selected for the testing quickly and easily mining the cryptocurrency simply by clicking on links on the platform that direct to the retailers of their choice, and then purchasing goods on the retailers website as they would usually do.
The company currently employ a team of 14 developers who are continuing to work on the platform in order to add all the necessary functionality and UI to make the user experience as simple and user-friendly as possible. This is part of an overall drive by the company to make the world of cryptocurrency and blockchain technology more accessible and user-friendly than it has ever been, and the company are planning to add thousands of additional retailers from virtually every country in the world over the next 12 months or so, so that the platform becomes truly global.
In much the same way as traditional cashback platforms, which have experienced huge growth and success in the last few years and can boast up to 6 million users each in the UK alone, once the user has made a purchase on the linked retailers website, their order is then tracked back to the CCRB platform, and the mined cryptocurrency is then credited to the users account, usually within just a few hours.
CCRB currently has a patent pending for the platform, which is written on the dynamics of their “Proof of Spending Protocol – POSp” (Patent App No: GB1719487.9). The “POSp” Protocol validates transactions and the participating parties, to create new value after every successful transaction by validating exactly what the user has spent, and where. The POSp concept covers all validated spending including public sector spending, private sector spending, trade spending, and charity spending, as well as any kind of transaction that is processed between two or more parties.
The further development of the Shop & Mine platform is part of an overall ecosystem that CCRB are developing, that aims to solve the inherent problem that most, if not all, cryptocurrencies on the market still face today - that of a woeful lack of usability and practical application, meaning that it can be very difficult to actually spend cryptocurrency once the user obtains it.