Tapatalk, the most popular forum application, has recently integrated the Kin token into its platform. However, it appears to only be available on the mobile version. As of November 28th 2018, it had 300 million registered users and it’s used across 186 different countries. The goal is to reward users for performing certain tasks, like posting high-quality content, interacting with other users and enabling users to tip each other within the application.
Most forums only allow you to up-vote someone’s post. While that may provide sentimental value to the original poster, it might not be enough to keep them coming back. Rewarding users with cryptocurrency instead of up-votes is a new mechanism being integrated into social networks. Whether the overall effect is net-positive or negative remains to be seen. We could see more bot activity on these sites since there is the potential for monetary gain. The more comments your post gets, the more Kin you’re likely to receive – and bots are a great way to generate activity on a post.
Take Tapatalk for a Test Drive
I created my own group which can be found here, please try it out and join the discussion! This is the second useful app that I’ve found that has partnered with the Kin Foundation. The first one being MadLipz. There are very few applications that have successfully integrated a cryptocurrency into its own platform. A few examples I can think of is Steem, a cryptocurrency that’s being used on Steemit.com. Another, my favorite, is Brave which allows you to tip Brave verified sites/accounts with their crypto called BAT.
It’s expected that Facebook will introduce their own crypto in 2019 which will enable WhatsApp users to send and receive money. How else they will implement the currency remains to be seen. Ted Livingston, the founder and CEO of Kik and Kin, published an article today about this. He thinks that Facebook is actually aiming at a target much bigger than trying to replace Bitcoin, they’re going to try to replace the United States Dollar.
We’ll call it ‘Facecoin’ for now. If it’s executed correctly, we’ll most likely see it integrated into WhatsApp, Facebook, Instagram and Facebook Messenger. Imagine if you could freely send anyone money, pay your bills, and receive payments, all from Facebook’s ecosystem. It might sound wonderful to some people and terrifying to others. Personally, I think we need something very similar to this, but preferably from a different corporation or entity. It would be great if such a platform could hook into some of the major exchanges and allow us to pay for things with the crypto we already have.
Do you know of any other applications or websites that have successfully integrated a token or cryptocurrency? Should we get behind Facebook to make it easier for us to send and receive money?
Disclaimer: The above references an opinion and is for information purposes only. This is not investment advice. Seek a duly licensed professional for investment advice.