MegaX - Singapore-based Cryptocurrency For Retail Network

If you are a millennial, you might have heard of MegaX, the upcoming cryptocurrency from Singapore for retail network), or probably not. In any case, after reading this post, you would have better idea of what MegaX is all about. 

MegaX is the new cryptocurrency (digital token) developed jointly by Singapore-based companies, iFashion Group and MC Payment. As per the CEO of iFashion Group, Mr Jeremy Khoo, it is a "movement" to reinvigorate millennial spending.    

Effectively, MegaX is just one of the many new AltCoins (alternative coin) springing up in the digital market. The way I see it, MegaX has an unique proposition whereby it's creator (iFashion Group) has a ready pool of brands/retailers to tap on this Blockchain-based digital token. Some of the brands under the umbreall so iFashion Group are:

1. Megafash (online shopping)

2. Dressabella (online shopping)

3. Invade (event management company that organized the first Artbox event this year)

As per the report, an e-commerce marketplace using the MegaX tokens as currency will be launched with listing of 1,000 brands by the end of the year. Meanwhile, iFashion retails will begin to accept the tokens as a form of payment next month. If you are interested to learn more about the MegaX, check out their ICO whitepaper here and their ICO site here.  

If I am not wrong, MegaX is the very first local digital token (cryptocurrency) created for the retail network, the closer that I can remember is QPay (by Qoo10). However, QPay is only an e-payment channel by QR code and not a true Blockchain-based digital token. So, it's not an apple to apple comparison. 

If you are into "retail therapy", would you be considering getting into MegaX?

Cheers!