Koinex lists Reliance Capital backed nCash token

Digital assets exchange Koinex on Monday said that it has listed the Reliance Capital backed -- nCash token -- which aims to transform the retailing sector by enhancing consumer engagement through brand loyalty programmes. The "nCash" is the decentralised cryptocurrency of Nucleus Vision which is an IoT-based, contactless identification system that empowers retailers to identify and better serve their customers. Koinex is the first exchange in India to list "nCash" tokens as a viable and promising investment option for its users. The trading on "nCash" is already live on Koinex.

Major players such as Reliance Capital and Tim Draper are among the investors who have financed their belief in this project. Talking about the new token, Aditya Naik, Co-founder and CBO of Koinex said: "nCash aims to personalise the consumer experience for brands by enhancing the loyalty programme in the retailing sector. "Needless to say that the project supported by Reliance and adopted by an array of global stature brands like Shopper Stop, Raymonds, Gini&Jony, Allen Solly, to name a few, adds credibility to the notion that these are the first steps to transformation for the retail segment through blockchain technology."

This cryptocurrency can be earned 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.