Today we have the huge pleasure of having Sabrina Wang, the CEO of PINC with us!
PINC is a social commerce platform that incentivises content creators and provides a personalised experience for shoppers. Using blockchain technology, PINC facilitates the formation of a decentralised and transparent layer and ensures the legitimacy of user interactions and transactions.
Enjoy the interview!
Sabrina Wang: Hi! I’m an entrepreneur with a fashion, technology and media background.
I started my entrepreneurial journey when I was 15. Since then I have dabbled in various businesses such as web/game hosting, web/mobile design and my own fashion line, among others. PINC is my latest venture.
Right now, I’m trying to revolutionise social media and e-commerce using machine learning/AI and blockchain.
Sabrina Wang: The idea behind PINC came about as I was flipping through the pages of my favourite magazine – VOGUE. I saw this bag that I really wanted to get, but I didn’t know where to buy it.
And then I thought to myself, “If only I could click and purchase [that].”
Building on this idea, I started PINC with the hope to facilitate e-commerce that is getting more and more apparent in social media. I also realise that nowadays social media users do not get rewarded for generating content.
Besides making online purchase easier for users, PINC also seeks to reward users for every content that they generate by giving them points. These points can then be converted into cash.
Sabrina Wang: This is a good question. One of the things that I had in mind when I started PINC was that I want it to be transparent and ever-growing, so this is one of those questions I find difficult to answer.
But I do believe that people have different impressions of the product, so there may be things that some know in a certain way but others interpret in a different way.
I find this great because the product is supposed to resonate with different spectrums of people, differently.
Sabrina Wang: Here at PINC, we focus more on peer-to-peer marketing – something that we don’t see a lot of in the current market.
With the rise of influencer marketing, consumer nowadays have these few “fashion role models” that greatly influence their purchasing decision.
On the other hand, as influencers get more followers, they are more likely to get sponsored and hence produce more sponsored posts. When people see sponsored posts, people may question the legitimacy of the reviews given that there is an external reward behind them.
Through peer-to-peer marketing, we’re trying to keep the legitimacy of these recommendations. When a certain product is recommended by someone that we know, we tend to see it more like a suggestion from a friend rather than a profitable marketing strategy. We then hope that the credibility of fashion marketing can be enhanced through our platform.
Sabrina Wang: The use of blockchain in fashion supply chain is getting more recognised now. Blockchain allows transparency in the supply chain that the authenticity of fashion labels can be proven. Using blockchain, every fashion product has transparent origins that can be traced.
We hope you have enjoyed this interview with Sabrina Wang today! Visit Pinc for more details.