Taringa! is a Latin American social networking company that has 27 million users. This social networking giant is launching a stablecoin rewards system with the help of two strong partners: the e-wallet provider Airtm and MakerDAO. The information comes from an official press release from the company’s website. The company revealed its new product in Mexico City during the Blockchain Summit Latam.
The project is currently in “pilot” stage called “Taringa! Pioneers”. Users will be rewarded with points whenever they create popular content on the platform. This content can be monetized once converted into the stablecoin called DAI, based on the MakerDAO’s Ethereum blockchain
Taringa! is definitely a company to look out for, as many have called it the Facebook of the Spanish-speaking part of the world. With the new pilot program, Taringa! is tapping into the blockchain world, offering its Latin American users more financial independence and better access to technologies.
Countries such as Venezuela are experiencing hyperinflation and in many cases – shortage of food and water. The President of Venezuela has now ordered the largest Venezuelan bank to adopt the government oil-backed digital coin the petro in an effort to save the economy.
According to an article in Cointelegraph by Mrs. Marie Huillet, Taringa! is actually no stranger to the cryptocurrency innovations, as the social networking giant partnered with Xapo, a wallet provider to create a special distribution system on bitcoin-based revenue in 2015.