Reliance Capital-backed token 'nCash' listed on Koinex

New Delhi : Koinex, an advanced digital assets exchange listed nCash token, backed by Reliance Capital, thus initiating the transformation of the retailing sector by enhancing the consumer engagement through brand - loyalty programs.

"nCash aims to personalise the consumer experience for brands by enhancing the loyalty program in the retailing sector. This product has the vision and scalability to usher the overall retail segment into a new phase of growth, and no better market for Nucleus Vision to pilot their efficiency, other than the booming retail sector here," said Koinex co-founder and CBO, Aditya Naik.

Founded at Harvard University, Nucleus Vision is an IoT-based, contactless identification system that empowers retailers to identify and better serve their customers. nCash is the decentralised cryptocurrency of Nucleus Vision, which is used for various transactions across the company ecosystem.

One can earn nCash by entering a Nucleus Vision-powered retail store or by shopping there and receiving discounts and coupons (in the form of nCash tokens), as loyalty reward points and also authorising and exchanging customer data on the Nucleus Vision platform.

In stage one of their application, they are working with the retail segment, wherein nCash can be redeemed across any retail brand in the Nucleus Vision network globally. In future, Nucleus Vision platform also has relevant applications for smart communities/smart cities, agriculture, transportation, healthcare, and home monitoring.

On a related note, trading on nCash is already live on Koinex.