Russia’s Biggest Social Network Could Launch Own Crypto – Report
Vkontakte, the biggest and most popular social media in Russia, might join the ranks of Facebook and Telegram and launch its own cryptocurrency. As reported by local publication RNS on Friday, March 29, Vkontakte is looking into the question.
No details were revealed at this point, however it is believed that with the proposed cryptocurrency, almost 100 million Russian speaking users worldwide will be able to create individual compounding accounts on a monthly basis.
Account holders could, for example, accrue tokens for completing certain actions on the platform . The tokens could be “accumulated, sent to other users, exchanged for goods” or used to pay in stores or online using VK Pay, VKontakte’s electronic pay platform.
Also, taking into the account the time spent online, the users are said to receive rewards for their activity, including creating and sharing new content.
No ultimate decision has been taken so far; Vkontakte representatives have made no official comments either.
Subscribe to our Newsletter<
- How Centralized Social Media are Forced to Censor Content: Facebook Case
- UK, U.S., and Canada Accuse Russia of Hacking Attacks to Steal Secret Research on Covid-19 Vaccine
- What Prompted Sudden Truce Between Telegram and Russian Watchdogs: Main Theories
- Trump Acknowledges 2018 Cyberattack Against Russian Troll Farm
- Germany Calls On EU Countries to Impose Cyber Sanctions On Russian Hackers
- Creating Token In 5 Minutes. Enecuum Example
- Voice Social Media App Goes Live, Dan Larimer Shares Glimpse of New World Order
- ‘TikTok Spies On You and Transfers Data to Chinese Authorities.’ But Is It All That Bad?