Japan’s Chat Giant Line Announces Five Decentralized Apps For Crypto Rewardsbr>
Japan-based social messaging platform Line is planning to launch five new decentralized apps (dApps) on its custom blockchain platform. The company will also begin offering its own digital token LINK (for markets outside Japan) from its global digital asset exchange BITBOX starting October 16.
In its announcement, the chat giant said that its new series of dApps will focus on a range of service categories, including prediction, Q&A, as well as reviews of products, food and locations. Two dApps – prediction service 4CAST and knowledge-sharing platform Wizball – were released last month as beta versions to provide a first-hand experience of the LINK ecosystem to a limited number of users.
The other three dApps – Pasha, which rewards users for posting product reviews; TAPAS, which similarly rewards users for posting food reviews on eateries across Japan; and STEP, which incentivizes users to “to share their stories of recreational activities and holiday trips,” are scheduled to be released later this year.
“LINE’s latest line up of dApp services is also a result of advancements in blockchain technology,” Line said. “While the majority of existing services have a central administrator for managing and operating the service, the system is often a black box, and services become inaccessible as soon as the operating company’s application server goes down. Through the provision of dApp services, Line aims to build a co-creative world in which user actions in the Line Token Economy receive appropriate rewards, and contribute to service growth.”
Line also announced that it launched a separate coin, dubbed “LINK Point,” that is exclusive to Japanese residents. In addition to using LINK Points for dApp services in the LINK Ecosystem, residents in Japan can exchange LINK Points with LINE Points before converting them into JPY at par to make payments at over 94 thousand locations across Japan with Line Pay, or make purchases in various Line services.
In addition, Line is planning to publicly release a development kit in anticipation of third-party services to join the LINK Ecosystem starting 2019 (tentative).
“This kit will enable service providers to implement a token economy without having to spend a vast amount of time and money building their own blockchain network and token economy,” Line said.