VKontakte, popularly known as VK (dubbed “Facebook of Russia”), is reported to be discussing the launch of its own cryptocurrency, according to leading news portal RNS. Following the lead of Facebook, which is reported to enter the cryptocurrency market soon, VK is planning to reward users for surfing and engaging in activities on their site in crypto via VK Pay.
RNS also claims that they have received a presentation from VK in which they have mentioned that interesting publications on their site will be rewarded with cryptocurrency, which can be shared through likes, reposts, and comments.
The press service related to VK has yet not commented on the matter, but they haven’t denied the claims made by RNS which hints towards the possibility of these claims being true.
VK launched its payment service by the name of VK Pay last year in June. The only payment gateway of VK, VK Pay, uses users’ debit or credit cards to allow them to send and receive money from one user to another within the message service of VK.
Pavel Durov, aka Zuckerberg of Russia, founder of VK, who is also one of the co-founders of Telegram, a privacy-centric messaging service, is a big cryptocurrency enthusiast. In fact, Telegram has been rumored to launch its own blockchain network, which will be known as TON, by the end of 2019. The company had plans on holding an initial coin offering but then changed the plan after raising $1.7 billion worth of funds via its two private token sales. As reported by the Russian media outlet, The Bell, TON is 90 percent ready.
Russian Take on Cryptocurrencies
Meanwhile, the country is actively formulating laws to regulate cryptocurrencies. As published on the official website of the President of Russia, Vladimir Putin has issued another deadline to adopt regulations which will govern the digital assets industry, according to instructions for the Federal Assembly on 27 February.
Image: BigTunaOnline / Shutterstock.com