Line, the company operating Japan's most-used messaging application, has announced plans to launch five decentralized applications. These applications will run on Line's blockchain network as part of
Line, the company operating Japan's most-used messaging application, has announced plans to launch five decentralized applications. These applications will run on Line's blockchain network as part of the firm's Token Economy initiative, which uses Link Chain and a token called Link.
Wizball and 4CAST are in beta. Wizball operates as a question-and-answer platform where users share knowledge and members of the Wizball community receive rewards. 4CAST allows users in communities to make predictions about future outcomes and get rewarded.
Three more applications, Pasha, TAPAS, and STEP, will roll out before the year ends. Pasha lets users write and search for product reviews using photos. TAPAS is a food review platform with restaurant information across Japan. STEP is a social media platform where users share stories about their recreational activities and vacation trips.
Users who create accounts and begin using these services will earn Link Point in Japan or Link in other markets. What they earn depends on what they do and how much they contribute to each platform. Link tokens play dual roles within Line's Token Economy: users spend them as payment or receive them as rewards for their contributions.
Line plans to list Link on Bitbox, its cryptocurrency exchange, starting October 16, for users outside Japan.
By offering these decentralized applications, Line aims to create an ecosystem where users earn rewards for their engagement and the platforms themselves grow stronger.
Line is preparing to release a development kit for third parties interested in building on the Link Ecosystem. The kit lets service providers set up token economies without spending large amounts of time and money constructing their own blockchains and token systems.
Line's work on this development kit reflects the company's broader push into blockchain. Last month, Line launched Unblock Ventures, a $10 million fund dedicated to token investments. LVC Corporation, another Line subsidiary, made the initial commitment to the fund. The fund focuses on token investments and will expand as the blockchain sector grows.
Line is also examining how blockchain could work in countries with weak financial systems. The company is exploring services like letting people pay utility bills through their phones.
