VKontakte: the social network is considering a crypto
Crypto

VKontakte: the social network is considering a crypto

By Alfredo de Candia - 30 Mar 2019

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According to a Russian magazine, an anonymous source said that the social network VKontakte is working on its own crypto.

It will apparently be possible for all users to create individual accounts and store the crypto as if the social were a wallet.

In June of last year, the social network VKontakte launched its commission-free payment system, VKPay, allowing users to purchase and pay for services within the platform and on partner websites such as OneTwoTrip, Liters, Kassir.ru, ShowGoGo, Grow Food and Delivery Club.

VKontakte can boast a solid and incredible base of over 97 million users per month and 6.5 billion messages per day, so it could really create a strong impact in the crypto world and take it to a level of further understanding, making users approach their crypto and, why not, also other cryptocurrencies in circulation.

Social networks love crypto

The Facebook announcement about creating and integrating crypto and maybe even creating its own stablecoin has caused other competitors in the same field to start evaluating the integration of crypto within their applications or even to create new proprietary ones based on other blockchains.

WhatsApp would also have decided to use a crypto wallet, Wuabit, accessible through an interface inserted directly into WhatsApp’s chat.

According to Ted Livingston, founder of Kik, Facebook’s goal is not so much to “just” overtake bitcoin’s competition as a cryptocurrency, but even to compete directly with the US dollar.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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