The Argentinean social network platform Taringa, which boasts over 27 million registered users, is thinking of a system of rewards to pay content creators using the stablecoin DAI developed by MakerDAO.
The announcement at Blockchain Latam
The platform is present in all countries of the Spanish-speaking world. Its main markets are Argentina, Spain, Colombia, Chile, Peru and the Spanish-speaking community of the United States.
According to some statistics, it is the fourth most popular Latin American social network and the second most popular in terms of traffic after Facebook in Argentina, with more than 75 million unique visitors per month.
The company revealed its new project in Mexico City during the Blockchain Latam summit.
Taringa unveiled the news citing the collaboration with MakerDAO and AirTm for the pilot initiative called “Taringa! Pioneers.”
The social network will reward users for creating popular content by issuing points. These points can be easily converted to DAI. Subsequently, AirTm will allow converting the DAI stablecoin into any of the available fiat currencies.
In addition, thanks to Coinsource, the world’s largest Bitcoin ATM operator, it is now possible to buy and sell the DAI stablecoin.
Help against inflation
AirTm also stressed the importance of decentralised solutions with respect to the financial situation within the Latin American regional context.
Taringa, in fact, concentrates its efforts directly on countries affected by hyperinflation, such as Argentina and Venezuela, in that the use of stablecoins could protect them from the devaluation of local currencies.
Taringa is not really new to the cryptocurrency world. The Latin social network giant collaborated with wallet provider Xapo back in 2015 to create a reward system for its bitcoin (BTC) users.