Wall Street pro launches crypto-based social media and marketplace platform
The Wall Street veteran and entrepreneurJenny Q. Ta has launched a crypto-based social media network and marketplace platform.
CoinLinked, which was launched on May 7, will feature a utility token as part of a reward and discount system on the marketplace. As Ms. Ta has put it, the newly introduced platform is like a decentralized/centralized combination of such platforms as Twitter, Instagram, and Amazon.
“With global e-commerce steadily expanding each year and sales projections indicating that the multi-billion-dollar industry will reach new highs in 2021, there’s a clear need for a more fluid and less encumbered method for exchanging cryptocurrencies for tangible goods."
CoinLinked will feature two native tokens: a security token and an ERC-20 utility. The security token will serve for those investing in the platform, whilst an ERC-20 utility has been designed to serve various functions.
On the CoinLinked platform called CoinLinked Coin or CLC users will be rewarded with tokens for content creation on the platform, such as posting pictures or videos, engaging with the existing feed, and sharing links.
Ms. Ta stressed that the CLC token can be used only on the platform. However, in the near future, the platform users will be allowed to trade the CoinLinked Coin into other stablecoins or for discounts within the platform. The entrepreneur also revealed that their security token might be soon tradable for Ether (ETH) as well.
As the CoinLinked team are committed to free speech, they are willing to hold a high level of censorship resistance by allowing any content that is not illegal. Should any shared content be flagged, the platform administration will process it carefully to determine if the uploaded material does not violate U.S. law. In addition to that, the platform will also track its feed for fake news.
The accounts of all users will be verified regardless of their public status, and all the data is to be stored offline using the analogy of cold wallets. Ta also emphasized the importance of private data security and assured that the platform will maintain the same standards that are being followed in the financial services industry:
“Because I have grown up or matured on Wall Street, which is much bigger than the banking system, I respect privacy. Period."