All social media companies today are looking at blockchain technology. This week, “LINE“, one of the world’s most popular message apps with more than 200 million active users, came out with important blockchain news. In the short term, they plan to reward users with digital coins for using their app. So the more you app, the more you receive!

But how does that work exactly? Actually, it is very simple.  The message app makes 1 billion digital coins (tokens). The users apps and gets from the platform, as a reward, some tokens and saves them in his or her app-wallet. These tokens, you guessed it already, can then be exchanged in other apps. Of course supplied by the platform.  For example, as a payment token for a game, or an exclusive membership of a community or service.

The good news is that we will finally be paid for giving our information to a platform. It is strange that today we are sharing our information with a commercial party that can profit of it.  And even without receiving any compensation.  But rewarding for use does create a certain degree of dependence. After all, we have value in our app and we don’t want to lose it. And the idea that these digital coins will also gain more value in the future is an extra incentive to collect them.

This concept is not only used by social media companies. Companies are also thinking about a form of reward. I already wrote about this in one of my previous blogs. In any case, blockchain technology has ensured that value transport over the internet has become a piece of cake. A digital penny indeed!

And when you soon see You tube, Facebook, twitter and WhatsApp adding tokens based on blockchain technology to their platform, you know that they do so mainly to bind their users and secure their future business.

Contact us for moren information.

  Erwin Giesbers

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