[BLOG] Increasing of Reward based SNS: TEMCO Point System Review
Recently, there had been a lot of attention from the public towards social networking sites, since these sites are preparing to utilize blockchain technology. As various social networking sites are looking to utilize blockchain and cryptocurrency technology, the era of earning money through content creation and activities in social networking sites is starting.
One of the representative cases is “Steemit”. The platform rewards its users with ‘STEEM’ for their activities on the Steemit platform, such as creating or reacting to contents, etc. The ‘STEEM’ that they earn through the activities on the platform can be converted into ‘Steem dollar’ or ‘Steem Power’, and the ‘Steem Dollar’ can be exchanged with fiat currencies.
In Korea, a social networking platform called ‘Cyworld’ is in a process of adapting blockchain technology to show its second primetime since its popular start in the early 2000s. At the point of going downhill due to the rise of Instagram and other SNS from around the world, Cyworld will reborn as reward-based SNS. Activities such as writing and liking the contents will be rewarded with ‘Coconut’ points. Also, you can convert ‘Coconut’ points to ‘Cling’ and trade in the exchanges.
Also, the world’s largest social media such as Facebook plans to enter the blockchain industry, gaining much attraction around the world. Facebook was spotted on acquiring a blockchain startup called “Chainspace”. In addition, Facebook currently is recruiting for blockchain related positions through their official website. As Facebook shows the blockchain industry-related activities, predictions about “Facebook coin” is carefully being spread out.
As major SNSs in Korea and around the world are adopting the method of reward-type tokens, TEMCO platform’s point rewarding system is receiving heightened attention as well.
Accordingly, TEMCO platform is under the development stage, at a similar pace. The TEMCO market platform’s community is under development based on the token and point concept of the token economy. On TEMCO’s blockchain based market platform, vendors and consumers are rewarded with points. The users are rewarded with TEMCO points, through the participation activity of content creation, replying to comments, general review, product review, authenticity verification and more; these points are converted into TEMCO tokens for purchasing products etc. In addition, when the points are used, users can take advantage of the benefit in the platform and increase of revenue for the vendors.
TEMCO tokens are used for Smart Contract usage, purchasing of the products within the platform, and other various ways. TEMCO’s e-commerce market platform offers a professional level of community through the token economy and TEMCO point policy, attracting active and voluntary participation of the users. Moreover, development of the token payment method of GUHADA platform is in progress, other than that, payment through a credit card, bank account, coupon, and points are being developed as well.
The TEMCO team is developing TEMCO’s e-commerce platform, so the development is in progress. Currently, there are 16 developers, each of them working full-time on login, search, community, blockchain, cryptocurrency, keyword search sectors of the backend, with the completion of the planning. TEMCO’s e-commerce platform is expected to have much influence in the field of e-commerce market as well as the cryptocurrency markets.
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