The giant messaging and internet company LINE will be releasing five different decentralized applications (dAps). The announcement has been made by the company some days ago in a formal Press Release. These apps will allow users to review places and food, among other interesting things.
LINE Launches 5 Decentralized Apps
The cryptocurrency space continues to evolve and grow. LINE has decided to announce its plans for its token economy and the launch fo five dApps. The apps will be related to the following categories: prediction, Q&A, product review, food review, and location review.
Additionally, the company will also offer its own digital token known as LINK. It will be listed on the global digital asset exchange known as BITBOX. The token will be launched on October 16.
LINE explains that it wants to flatten the relationship structure between users and service providers. According to the company, this is something that would promote co-creation and mutual growth. Users can start earning tokens by simply registering and begin using any dApps available.
About it, LINE explained:
“The amount earned will depend on the type of action taken or degree of contribution made to each service. Additionally, LINE is preparing to publicly release a development kit in anticipation of third-party services to join the LINK Ecosystem starting 2019.”
This would clearly help services provider implement a token economy without having to invest in their own blockchain network or token.
Blockchain is a key player in this process since it increases transparency and security. With the provision of these dApps, LINE wants to create a world where users are properly rewarded for the actions they have. The new applications will be known in this way: Wizball, 4CAST, Pasha, TAPAS and STEP. Some of them are expected to be released before the end of the current year.
LINE has clearly shown that a big company can enter the crypto market if it decides to do that. It was possible for the company to move in the space and develop different services that will have an impact on many users.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.