Malta’s pledge to become a crypto and blockchain hub in Europe, with Government’s sponsorship of the mega Delta conference to help promote this vision, has put Malta on the map, attracting the attention of giants such as Binance, Okex and BitPay.
PKF Malta broadened its marketing horizons when last August, it visited the headquarters of the Social Good Foundation Inc. in Tokyo, Japan. The Social Good Foundation is a company whose ICO raised an impressive $30 million from overseas private institutional investors.
What is the Social Good Foundation?
This venture prides itself on a business model which promotes a token-based social contribution-oriented ecosystem, utilising blockchain technology. Soichiro Takaoka, the CEO of Social Good says that the company aims to be “the Amazon or Rakuten of the blockchain era.”
The Social Good Foundation uses AI and conducts research in the investment industry by analysing a variety of big data to discover investment targets, such as shares that are likely to increase in value.
What does Social Heart do?
Social Heart holds the funds in reserve so as to maintain the value of the cryptocurrency and establish credibility. The novel idea behind this cryptocurrency is that it allows the holder to receive cashback when shopping at participating stores, part of which is automatically donated to charitable organisations. The foundation submitted a business model patent application regarding a cashback system utilising cryptocurrencies in Japan and the United States early this year. At the end of April, the number of Social Good holders had surpassed 30,000 people worldwide.
Social Heart is a neutral fund-rating organisation; it is positioned to use big data to carefully select superior funds worthy of long-term investment by the wealthy from a huge volume of fund data. Its founder, Soichiro Takaoka, is an accomplished entrepreneur in the FinTech sector, with over 10 years’ experience as both a founder and CEO.
Who is Soichiro Takaoka?
Soichiro Takaoka has an impressive biography. After graduating from Tokyo University, he started his career at Mitsui & Co Ltd, where he was engaged in Overseas Investment Review, New Business Development, and M&A in the IT business sector.
He then formed the Ayumi Trust Group (formerly the Abraham Group) in 2005 – an IT media business pioneer targeting the wealthy class. He then established and managed a Hong Kong securities company licensed under HKSFC, which he later sold.
Mr Takaoka was appointed Representative Director and CEO of each of the Group’s companies, Hedge Fund Direct Co Ltd (FIEA No 532) and Yucasee Wealth Media Co Ltd. He led group companies running finance and media business for wealthy people in the FinTech sector.
After establishing a wholesale special securities company authorised by the Hong Kong Securities and Futures Trading Commission, Mr Takaoka is well-versed in the field of global finance, including sales. He also serves as a part-time professor at Kyushu University. In 2018, he was actively promoting the Social Good Foundation to promote social contribution ecosystems applying blockchain technology.
In conclusion, PKF augurs that Social Heart Foundation will follow in the footsteps taken by other heavyweights such as Binance, Okex and BitPay to become the next giant in the blockchain arena in Malta.