Will VKontakte’s cryptocurrency be Russia’s next big digital coin?

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VKontakte is one of the largest and most popular social media giants in Russia. Reportedly, the company is now thinking of launching its own digital coin, according to press. While there is no official statement made by the company, the news comes from a local news outlet, RNS.

The creation of the digital coin will, of course, impact all users of the platform. According to RNS, users will be able to obtain the tokens in different ways, according to their time spent on the platform and their activeness.

Users can them accumulate digital coins and exchange them among themselves through the platform, or more specifically, through VK Pay, which is a cashless money transfer service that lets the platform’s users to send money to each other in messages using a debit or a credit card.

The introduction of such digital currency may have huge impact, given the fact that VKontakte is currently the third most popular website in Russia, a ranking given by Alexa. The popularity of the platform actually equals around 40 million users.

The introduction of VKontakte’s digital coin may also allow users to “tip” posts and comments they like on the platform. Thus, the company is creating a more open ecosystem of digital cash that will allow users to better interact with the platform and the other users.


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