/ TAG Group

Tagcash White Paper

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Permissioned blockchains to create, use, and trade tokens representing fiat money, cryptocurrencies and other assets


For the last 25 years great steps have been taken to enable transfer and dissemination of data. Now we are at the birth of a new era for the transfer of value.

With the creation of Bitcoin a new technology has emerged to enable value transfer in many different ways. Multiple cryptocurrencies have appeared over the last few years, but the volatility has meant they cannot really be used as a replacement for Fiat money. In addition, there is no control as to who can use them, which in many cases is needed.

Tagcash Ltd, a company created in 2014 in Philippines, builds apps, websites and APIs to allow easy creation, management, and usage of Fiat or private currencies for various uses such as payments, rewards or in app game currency. Tagcash uses open source, permissioned blockchain software (Multichain) as the underlying technology to make this possible. Anyone can connect a node and build their own products on top of this, from simply taking transaction free payments to creating fully fledged wallets for their own customers.

Tagcash has Philippines Central Bank (BSP) approval to run Fiat currency (Philippines Pesos) on a Fiat blockchain (viewable at http://php.tagcash.com), which is currently running all Tagcash wallets, APIs, and websites. We will be working with Central Banks or money issuers in different countries to add more Fiat currencies in the future.

In addition, tokens representing private currencies, cryptocurrencies, and virtual or physical assets can be created on the Tagcash Blockchain for easy integration into other apps and solutions, with or without using Tagcash APIs.

The Tagcash Blockchain offers usage, transfers, and decentralized and atomic trading, between any asset created, but under control of the issuer.


Tagcash uses open source software Multichain, forked from Bitcoin Core in 2015, to create and manage both Tagcash Fiat and Tagcash Token blockchains. Permissions include admin, consensus validation (mining), connect, issue, activate, send and receive. The Tagcash Token blockchain has been created with all permissions open except admin and mining which Tagcash controls for now, but these permissions will be shared in the future, with consensus for any changes set to 75% of all admins and miners. This and other rules are set in the genesis block and are publicly viewable via a chain explorer at http://tag.tagcash.com. The Tagcash Fiat blockchain is more restricted, with connection and send/receive permissions given based on KYC approval, which also runs on a separate blockchain.

Multichain uses Bitcoin Core Technology, so many of the software libraries built for Bitcoin will work with little or no changes. There are added advantages - more transactions per second ( more than 1000 per second vs Bitcoins 3 per second), asset creation and reissuance, larger data storage per transaction (up to 64MB) and ability to write data streams, which could include smart contracts.

More details on the technical capabilities of Multichain are available at http://multichain.com

Anyone can connect to the Tagcash or Fiat Blockchains now using the command line - Multichain software is installed from github (https://github.com/MultiChain) and connection can be made to the Tagcash Token Chain (multichaind tag@tagcash.com:3000) or the Tagcash Fiat Chain (multichaind php@tagcash.com:9000).

Projects built on Tagcash Blockchains

Tagcash has already produced, and continues to develop, applications that are now using the Tagcash blockchain platform.

Tagcash Wallet - (Android, iOS, Messenger chatbot and website) - Multicurrency, multi asset ewallet for users and merchants with various modules to spend, transfer and trade.

Philippine Pesos Currency is already added to the Wallet, running on the blockchain. Deposits/withdrawals can be made via 12 different banks, 7-Eleven, other agents and Bitcoin. It can also be sent to any of the 6 large remittance companies in the Philippines directly from the system or withdrawn via ATM using just a security PIN. Any remittance company can connect to the chain and obtain Peso tokens, to be sent anywhere their clients ask. All that is needed is a token address to send it to. This is completely transaction free and is set to revolutionise remittance for money sent to the Philippines, (approximately 26 billion USD per year)


  • User and merchant accounts
  • Merchants membership management
  • Multi currency digital wallets (Managed)
  • Deposit and Withdrawal via 7-Eleven, Banks, Bitcoin, agents
  • Buy Airtime Load & Pay Bills
  • Buy Bitcoin / Sell Bitcoin
  • Voucher creation and redemption
  • Token Creation, permission control and usage
  • Codes creation and sales (for games etc)
  • Disbursements to banks from wallet
  • RFIDs/NFC and QR codes for easy payments
  • Home Services
  • Goferbike Delivery Services
  • Proof of Existence

Modules under development:

  • Hierarchical Deterministic (HD) Wallet for any asset
  • Token and Cryptocurency Exchange
  • Crowdfunding
  • Peer to peer lending
  • Charity giving and spend tracking.
  • Invoicing (to replace Original Receipts, paper based systems)
  • Ticket creation, sales and redemption
  • Rewards (Coupons, Loyalty Stamps and Gift Cards)

The Tagcash Wallet app is available on Android, iOS and web. However, all are currently being redeveloped using Fusetools (for faster cross platform mobile development), and Angular 4 JS as a web wallet.

Physical assets soon to be added to the chain for trading include Building Sand, scrap copper and recycled steel to be followed up by 100 different similar asset types. However, most usage cases are for creation of rewards points, private currencies, game points etc.

Tagcash NFC - Where internet connections are bad or non existent, this app enables tokens to be taken offline and transferred to the Android mobile phone app, and then credited to NFC bands or cards, or back to mobile devices and back onto the chain.

Tagbond - Supply Chain and Provenance app, which is currently being updated to post metadata proof to a Blockchain which can also be used by any company. Micropayments to write data to the supply chain will be via Token issued on the Tagcash Blockchain.

Tagwild - Gamified Loyalty digital scavenger app, using WILD tokens generated on the Tagcash Blockchain for use as points, prizes and advertising currency.

Other projects in development include the following, all of which will use either Fiat Tokens issued on the Tagcash Blockchain, or Tagcash Tokens (TAG) directly:-

KYC (Know your customer) - A Tagcash API and blockchain open to regulated partners to post KYC status for users and companies, without sharing any private data. Partners or any other apps and websites can check KYC status to see if a check has already been made, saving time and money. Used in conjunction with Fiat Wallets for regulation purposes or where any company needs to verify identity of a customer.

Triple Ledger - A blockchain ledger to store hashes of transactions made via accounting software. One of the first uses will be to offer a solution to the current Paper Original Receipt system in the Philippines, used manually or within apps and software, but can be used by any POS system.

Notary Public Services - A digital system to replace paper based notarization.

Voting - A project to offer decentralized digital voting, without making customer data public.

Coin Burn & Add - There are many cryptocurrencies that have been created over the last 7 years, some of which have been abandoned by the creators - TAG will offer a service wherein the coins are burned to a specific address, and the transaction ID from that used to issue a matching currency created on the Tagcash Blockchain. This way, a community can continue with the use of that coin, and it can be traded against any other asset created on the Tagcash Blockchain.

Other companies and partners are coming onboard to issue and manage their own currencies, including some created for upcoming ICO Token Sales of their own. For example an elearning token will be launched on the Tagcash Blockchain for VTC.com, in business since 1996, which currently offers over 100,000 IT training videos.

Tagcash Tokens (TAG)

100 million new Tagcash Tokens (TAG) have been issued as native currency which is needed for all transactions carried out on the Tagcash Blockchain. This is the "fuel" that enables decentralized trading, asset issuance and usage, and writing data streams to the chain. In addition, Tagcash Tokens will be used for micropayments for apps and software developed by Tagcash where Fiat Currency cannot be used.

Transaction processing nodes (aka Mining) are handled by Tagcash but other nodes with more than 5m Pesos in value of Tagcash Tokens can be added as admins. They then earn the transaction fees for blocks they process. Up to 86 million transactions can be handled per day with the current Multichain software, and this may increase in future. The asset transaction fee is approximately 0.0005 Tagcash Token, but varies depending on the amount of data in the transaction. Sending Tagcash native currency is about half of that fee.

TagCoin cryptocurrency (2013)

TagCoin was created by Mark Vernon in late 2013 as a PoW / PoS cryptocurrency, used for Rewards and traded for the last few years, mostly in China. Pricing during 2017 rose from 2 cents to more than 80 cents but since the closure of exchanges in China has dropped since to 8 cents. Since we have a community already using the cryptocurrency, combined with the fact that there is no traditional mining on the new Tagcash Blockchain, Tagcoin will be integrated into the Platform. There are approximately 6 million TagCoin in circulation, and about 130,000 produced per month.
20 million Tagcash Tokens will be set aside for the next 10 years to handle burned TagCoins that can be exchanged 1 to 1 into the TAG Blockchain. Proof of Burn will be recorded on the TAG Blockchain with each exchange. This will tend to make Tagcash Tokens stay close to the price of TagCoin and offers a way to "mine" Tagcash Tokens via the PoW and PoS of TagCoin.

TAG Token Sale

Over $1.2m USD has already been invested in Tagcash Ltd for the last 4 years. The burn rate is approx USD $300k per year, financed so far by Mark Vernon.

80 Million of the total 100 million issued Tagcash Tokens will be available for a Token Sale, the proceeds of which will be used to build more apps and APIs that use the Tagcash Blockchain. Pricing for the presale will be 5 Pesos (10 cents) until end of December 2017, raised to 10 pesos (20 cents) until the start of the ICO in late January and will then be 15 Pesos (30 cents) for the duration of the ICO which will last 60 days over February and March 2018. 6% will be given as referral fees to help in marketing the Token Sale. The money raised will be spent on development of wallets and other apps/apis that build on the Tagcash and Fiat Blockchains. Funds received will be managed via multisignature wallets, with each signatory made public.

Larger investors who purchase more than 500,000 Tagcash Tokens (5m Pesos, 100k USD) are offered mining permissions on the main TAG Blockchain.

Comparable companies / products

**Waves** is probably the nearest comparable product, building a platform that integrates Fiat and tokens. Waves token sale in 2016 raised $16m and Waves token is now priced around USD$5, with marketcap currently at USD 500m. NEM is a permissioned chain priced around 19 US cents, marketcap at USD 1.7bn


**Mark Vernon**, Philippines - British, Serial Entrepreneur, (vtc.com, iplotz.com, tagcash.org, proofcore.com), Angel Investor, Chairman of Fintech Philippines Association. 30 years experience in IT industry, last 6 years in Fintech in SE Asia. Founder and owner of Tagcash. Also a Blockchain developer
**Jayasurya Jayasinghe**, India - Lead mobile developer
**Deepu Thomas**, India - Lead API Developer
**Bhavandeep Singh**, India - Lead Angular 4 JS
**Wei Zhou**, China - Debian Developer, Senior System Admin
**Jiang Liu**, China - Go to Market Strategist: Founder & CEO of Everstar Education Technology Ltd.
**Ayse de la Rosa**, Philippines - President Tagcash Ltd - Background of running multiple companies at the same time.
**Chrystelle Villaneuva**, Philippines - Compliance Manager
**Louis Witteveen**, Thailand - Business Development

Tagcash is based in Singapore (Tagcash Pte Ltd) and in Makati, Philippines (Tagcash Ltd, 100 million Peso paid up capital company) with a staff of 20, and an office in Kochi, India with 13 developers. Tagcash also works with partners in China, Thailand, Vietnam and Indonesia.


Tagcash is a Multichain partner and developer, and will be contributing to the development of Multichain for the open source community.
For example, Tagcash has commissioned the Multichain team to modify the source software to allow individual permissioned control of any issued asset.
Tagcash is also looking at development of PoS (Proof of Stake consensus), transaction privacy, and smart contracts built on the V8 open source javascript engine and stored on the Tagcash Blockchain.

As more regulated partners are added, more Fiat currencies will also be added around the world, for payments, remittances, and trading.

The main aim of Tagcash is to offer a location to create, use and trade different Fiat and other assets under one platform.

Mobile app downloads & Links

Tagcash Wallet - Android
Tagcash Wallet - iOS
Tagcash NFC - Android

Tagwild - Android
Tagwild - iOS

Tagbond - Android
Tagbond - iOS


Associated links to information

[KYC On the TAG Blockchain](http://markvernon.org/kyc-on-the-blockchain)

Interactive Mockup of the Tagcash Wallet

iPlotz interactive mockup of Tagcash Wallet


Q. Is this the first fund raising for Tagcash?

A. Yes. The company has been self funded by Mark Vernon for the last 4 years. No other investments have been made into the company and it is 100% owned by Mark Vernon, who is the primary angel investor, having invested approximately USD $1.2 million over the last 4 years since the formation of Tagcash Ltd in January 2014.

Q. What's the date of the Token Sale?

A. The public sale is set for February 1 to 31 March 2018. There is a presale until that date while Tagcash builds the new web wallet, which will include the crowdfunding module needed to sell the tokens.

Q. Are you doing a presale?

A. In Philippines, Tagcash Tokens can be purchased for Pesos only, using the Android Tagcash Wallet app, and will be cheaper than the public sale, increasing in price towards the final sale date. Pesos can be deposited via bank or 7-Eleven and used to buy Tagcash Tokens within the TAG Trader module. The presale is discounted to offer an incentive to buy early. Until end of 2017, price is set at 5 Pesos (10 US cents), for January it will be 10 Pesos (20 US cents) and for the public sale in Feb/March it is set at 15 pesos (30 US cents). Tagcash is also working with investors for private placement in China and Philippines and may well sell out of Tagcash Tokens before that time.

Q. Is the Tagcash Token a security under SEC law?

A. No, the Tagcash Token is not an investment-grade security of any kind. The Tagcash Token is a digital token for participation and use in Tagcash applications, blockchains and platform and does not confer ownership of a stake in the business. It is generally to be used by the partners, brands, vendors, and publishers who are a part of the Tagcash Network. Tagcash Tokens pass the Howey Test and are not a security.

Q. How will you convince people to participate in ICOs amid reports of online scams involving digital coin offerings?

A. Tagcash founder and owner, Mark Vernon, has a long history over the last 30 years in the IT business which can be checked online. He created VTC as an IT elearning site in 1995, which is still running today, having helped hundreds of thousands of people learn and get jobs. More recently he created TagCoin cryptocurrency in 2013 - there is a long thread of 150 pages of forum postings which show his opinions and thoughts on such things as pump and dump etc. He has a good reputation here in the Philippines, with Angel investments in various startups in the Philippines over the last 5 years. He is the Chairman of the Fintech Philippines Association recently created in August this year, and his views and goals on helping create a cashless Philippines, with all the efficiencies gained, are well known. Anyone buying Tokens should understand the ideas behind the token sale, ie: users need Tagcash Tokens to use the Tagcash Blockchain Platform for issuing, spending, sending and trading assets. In addition, people can meet and talk with Mark Vernon, chat to him online, chat to the Tagcash team, and make their own mind up if this is a good idea or not. Being government regulated will help as well..:-). Tagcash itself is registered in Singapore and Philippines and regulated in both.

Q. How will the money be managed after raising?

A. Some funds will be converted to Philippines Pesos and deposited as term deposits at a reputable Philippine bank, as part of the issuance of PHP Fiat Tokens on the blockchain. Some of the funds (eg: Bitcoin or Ether) will be held in multisig accounts by Tagcash. 1 million Pesos per month (approx USD $20k) will be used each month by Tagcash, for the next 4 years, to help defray development costs of core products, and to maintain the chain(s). The remainder will be used to fund projects that are voted on by holders of Tagcash Tokens. Voting will use the blockchain itself along with apps and APIs developed for that purpose.

Q. What will you do with the Tagcash Tokens not sold?

A. Any Tagcash Tokens not sold will be held in reserve, with the address publicly posted. This will be kept for further funding rounds in the future - the price of Tagcash Tokens in future rounds is likely to be higher than the first round, but then that would depend on the publicly traded price at that time.

Q. Is Tagcash regulated?

Tagcash either obtains licenses in different countries or works with regulated entities who have them.
Tagcash Ltd has its applications for VC License and EMI (E-Money Issuer) in process at the Philippines Central Bank (BSP). The EMI license is needed to issue Fiat currency, and the VC License is needed to exchange Cryptocurrency to Fiat currency and vice versa. The BSP is open to discussions on the use of the blockchain, and Tagcash is currently operating in a Sandbox environment so operations can be supervised to see what kind of regulations apply.

Q. Where is Tagcash based?

A. Tagcash is based in Singapore (HQ), Philippines (Sales & Admin) and India (Development), with a staff of over 30 full time employees.

Q. How can I buy Tagcash Tokens?

A. Tagcash Tokens (TAG) can be bought during the presale using the Android Tagcash Wallet app, by depositing Pesos using bank, 7-Eleven or Bitcoin and buying from within the TAG Trader module in the app. Pricing is 5 Pesos (10 cents) till end of December, then 10 pesos (20 cents) till end of Jan, and then 15 pesos (30 cents) for 60 days of the public sale. The Tokens will be in the managed wallet, but can be sent to any wallet running Multichain connected to the Tagcash Blockchain, with your own private key. The Tagcash HD wallet is under development and will be available soon if buyers prefer to manage their own private keys. The new Tagcash Web Wallet will also have the crowdfunding module where Tokens can be purchased. Large purchases can be arranged directly with Tagcash.


**Mark Vernon**
**email**: mark@tagcash.com
**skype**: markatvtc
**facebook**: http://fb.com/markvernon
**Whats app**: +639177000066
**LinkedIn**: https://www.linkedin.com/in/markvernon
**Bitcointalk forum** - https://bitcointalk.org/index.php?topic=317408