Vkontakte is reportedly looking to issue its own currency, although no final decision has been made on whether to do so. This comes almost a year after the launch of its payment system called VK Pay.
According to local news outlets (RNS), VK is looking to issue its own currency and adapt its billing system based on the blockbuster, in a move that allows users to earn digital currency through the website.
The local news outlet cites a well-informed source and claims that its editors have received a presentation that shows users can earn digital coins just to spend time on the social network. It says that funds can be collected, converted or converted into payments. The report adds:
“Users will also be able to access digital coins for interesting social networking publications, where users will be able to share currency shares with publication authors, and similarly, this may work with republishing and comments”
A new digital currency for social networking site
Vkontakte is the largest social network in Russia, with more than 97 million active users per month, and 6.5 billion messages are exchanged daily. Founded by Pavel Duroff as a local competitor to Facebook.
It is noteworthy that Facebook itself will launch its own currency in the near future, and some have suggested that it has continued even with the circulation of digital currency for inclusion on its platform. The move, according to one Barclays analyst, could bring the social media giant $ 19 billion.
Because of problems with the Russian government, Durov has since left VK and created the famous Telegram-centric messaging application, which raised funds through the initial currency support process (ICO). Fundraising is a threat to Iran’s national security.
It should be noted that Telegram collected more than $ 1 billion through its ICO. Although she plans to bring fundraising to the public, she canceled plans to do so in May last year.