CoinLinked, a social media and marketplace platform founded by Wall Street veteran Jenny Q. Ta, was launched on May 7th.
The platform has a utility token that rewards users for activities on the platform and can also be redeemed for discounts on the CoinLinked market.
In conversation with Cointelegraph, Ta described CoinLinked as that “First blockchain-based trading platform for social networks and cryptocurrencies”compared to a decentralized / centralized hybrid fusion of Twitter, Instagram and Amazon.
“With global e-commerce growing steadily each year and sales forecasts suggest the billion dollar industry will hit new highs in 2021, there is a clear need for a more fluid and less burdensome method of exchanging cryptocurrencies for physical Goods, “he said.
CoinLinked launches Value Token and ERC-20
CoinLinked designed two native tokens: A value token for speculators wishing to invest in the platform and an ERC-20 utility that performs multiple functions on the CoinLinked platform called CoinLinked Coin or CLC.
CoinLinked users are rewarded with CLC in return for creating content on the platformThis includes uploading images or videos, sharing links or interacting with existing posts.
Ta told Cointelegraph that “the CLC token is for the platform only” and “in the near future users” […] can change the CLC […] for discounts within the platform “or” in other stable currencies such as Tether “. He also indicated that the token can be exchanged for ether (ETH) in the future depending on regulatory approval.
Ta added that the CoinLinked value token will soon be tradable on major value token exchanges such as OpenFinance.
CoinLinked fights for resistance to censorship
Ta emphasized his desire to maintain a high level of resistance to censorship across the platform.and explains that, as part of its commitment to freedom of expression, CoinLinked allows any content that is not illegal.
First, CoinLinked processes tagged content manually to determine if it violates U.S. law. USA and all legal content remain on the platform.
In addition to illegal content, Ta highlighted the platform’s commitment to fighting counterfeit messages.
User verification to build trust
To strengthen the confidence of CoinLinked users while maintaining resistance to censorship, the platform enables the accounts of all users to be checked, not just celebrities and public figures.
Ta described the methods used by CoinLinked to store confidential information to verify accounts as a “business secret”. However, it is stated that the data is stored offline by calling the cold wallet analogy.
CoinLinked does not sell user data
Ta stressed that CoinLinked “will not sell user data” and stated that the platform will strive to maintain the same standards for customer data privacy that it has used in the financial services industry.
“We respect users like the traditional banking system. Wells Fargo, Bank of America: These banks were [operando] For 100 years and they never sold customer data, “said Ta, noting that” the data was only lost because it was hacked. “
“Since I grew or matured on Wall Street, which is much larger than the banking system, I respect privacy. Point “he added.