Tagcash & Tagbond History

I created Tagcash in Philippines, shortly after moving there in 2012 - I was looking at ways to invest and to set up an incubator office to create and run projects for me, and to take care of backend development for vtc.com, an IT Elearning company I also own. Part of that was also to promote VTC in Philippines and because of the lack of credit/debit card usage in Philippines, I started looking at micropayment methods, eg: taking 1or 2 pesos per lesson played in vtc.com. I quickly found out that it was impossible to integrate with existing Emoney issuers in Philippines (namely Smart Money and GCash), as they didn't have any APIs, and it was difficult to find anyone to talk to there. That got me interested in Bitcoin, and I ended up buying quite a substantial amount with the aims of giving it away as rewards and using it as a currency for payments as well. However, TX fees in Bitcoin, even then, didn't make it easy to incorporate micropayments, so that started me on the long path to getting an EMoney License in Philippines, which we eventually got in 2019. Getting that is a story in itself, one I won't get into here..:-)

Initially, Tagcash was set up so I could create multiple projects incorporating elements of digital micropayments, and after exposure to WeChat in China, our ideas began to move in the direction of mini apps offered in one central application, primarily to encourage the usage of digital Fiat (emoney). In Europe, when people have money in an eWallet (think Revolut) they think, "How can I spend it", but in Philippines the immediate thinking is, "How do I cash out as cash." The way around this is to offer many different solutions that would persuade customers to keep their money in the wallet and to use it.

It's been a long path getting to the point where this is possible, due to technology limitations - at first we created an app that was pure Android and iOS Native, which was expensive because 2 code bases were needed. Then we switched to creating the apps in opensource Fusetools, with the purpose of adding mini applications, but each time we created new apps, we have to rebuild the entire app and push updates. Then we discovered Google Flutter with the ability to dynamically load code and we have spent the last few months recreating the Tagcash Wallet app in Flutter. This is due for release late January, and offers the ability for customers to create mini apps in a few different ways - I created a video to show this but essentially, mini apps can be created immediately using web URLs or existing sites, or with HTML/CSS code uploaded to a TAG hosted gitlab server, or with Flutter code integrated with or without our API, and finally from templates we have already created (or that other developers can create). Tagcash also offers a quick path to creating white label applications, using their own or other mini apps, with all the features that Tagcash offers as well. We will be running remote hackathons to promote development of mini apps, and for me this is good to see what innovative new projects can be created on Tagcash ..:)

Tagbond was created as an offshoot to Tagcash to promote a particular agenda around Stablecoins and Tokenized assets - I have been interested in Permissioned blockchains for a long time and initially did a lot of work in Multichain, but the requirements of Central Bank for issuance and usage of Fiat, made Ethereum a better candidate. We created a smart contract for minting and issuance to customers by trusted partners (EMIs or banks or companies doing  government regulated KYC), and transfers. I became interested in NFTs a few years ago with the advent of cryptokitties, but the ERC721 spec was a little restrictive for what I wanted to do and it wasn't till the creation of ERC1155 standard by Enjin that I found what I was looking for. Now we could create extendable NFTs, with use for business and games. However, since all of this is Ethereum based and the mainnet is so expensive, we have created our own Layer 2 Tagbond chain using Hyperledger Besu from Consensys with a bridge between the 2 chains.

Using the same idea to enable creation and management of mini apps, super apps and  websites, customers can choose emoney and closed loop currency solutions using Tagcash or non custodial solutons using ERC20 tokens and NFTs on Tagbond.