Social Media Taringa! Launches Stablecoin For Its Users

The Latin American social media giant Taringa! has launched a Stablecoin with the help of e-wallet providers Airtm and MakerDAO. The project is currently in a “pilot” stage called “Taringa! Pioneers“. The company revealed its new product in Mexico City during the Blockchain Summit Latam.

The social media platform will reward its users with points when they create popular content on the platform. This content will be a subject to monetization once converted into the stablecoin called DAI, based on the MakerDAO’s Ethereum blockchain. This pilot program is similar to the blockchain browser Brave rewarding its users for watching ads.

Taringa! is entering into the crypto world, offering its users more financial independence and better access to technologies. It aims to empower hyperinflation-hit countries such as Argentina and Venezuela with the initiative, as using stablecoins could protect them from devaluation. Recently, Venezuela has started accepting Petro cryptos giving a challenge to the fiat and cryptocurrency.

With the new pilot program Taringa! can experiment with crypto without the risks of creating a proprietary token – as Facebook chose to do with its Libra cryptocurrency.