Messaging app Line preps cryptocurrency

Messaging app Line preps cryptocurrency

Japanese messaging app Line is introducing its own cryptocurrency, which will be given to people as compensation for using its services and can be used to buy things such as stickers and webtoons.

From September, the digital token, called Link, will be registered exclusively on Line's new cryptocurrency exchange, Bitbox, where it will be distributed to users.

The firm will issue one billion Link tokens, 800 million of which will be distributed to users, with the rest held back.

Link operates using Link Chain, Line's service-orientated blockchain network that enables decentralised apps (dAaps) to be directly applied to the firm's messaging network.

To expand this ecosystem of dAaps, Line will encourage their use by handing out Link tokens, which can then be used to trade with other cryptocurrencies on Bitbox or to buy things such as stickers within the Line platform.

Says the firm: "Through building a token economy based on a win-win relationship between consumption and rewards, Line aims to establish itself as a leading digital reward platform."

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