The platform consists of a utility token that awards users for various activities and can be exchanged for goods on CoinLinked’s marketplace.
Ta explained that CoinLinked is the “first-ever blockchain-based social network and crypto-commerce platform,” paralleling it to a blended form of Instagram, Twitter and Amazon.
Ta explained the need for a simple method to exchange cryptos. She said “With global e-commerce steadily expanding each year and sales projections indicating that the multi-billion-dollar industry will reach new highs in 2021, there’s a clear need for a more fluid and less encumbered method for exchanging cryptocurrencies for tangible goods.”
CoinLinked has structured two native cryptos, an ERC-20 utility token that will carry out several functions, and a security token for speculators who are eager to invest in the platform.
CoinLinked clients will be given CLC as reward for creating content on the platform, and also for uploading videos or pictures, interacting with prevailing posts and sharing links.
Ta stated that the “CLC token is strictly for the platform,” pointing out that “in the near future […] users can exchange the CLC […] for discounts within the platform,” or “into another stablecoins like Tether.”
She also signaled that the crypto token may be exchanged for Ether (ETH) in the forthcoming years, subject to regulatory acceptance.
Ta further stated that CoinLinked’s security token will soon get listed on popular security token exchanges such as OpenFinance. Ta stressed her will to retain a top level of censorship defiance throughout the platform, indicating that CoinLinked will pave way for any content that is not lawful in nature as a portion of its dedication to free speech.
Initially, CoinLinked will manually look into flagged content to assess if it breaches the US law, with any content judged legal slated to stay on the platform.
Further to unlawful content, Ta emphasized the platform’s dedication to fight illegal news. For the purpose of increasing trust among clients of CoinLinked, along with maintenance of censorship resistance, the platform will permit the accounts of all users to be validated, and not just public figures and celebrities.
Ta explained the methodology used by CoinLinked to hold crucial data utilized to validate accounts as a “trade secret,” nevertheless, signaling that info will be held offline via conjuring the semblance of cold wallets.
Ta stressed that CoinLinked “will not sell user data,” indicating that the platform will endeavor to adopt the same norms used in financial services sector for client data privacy.
Ta explained how much she respects conventional banking platforms. She said “We respect users like the traditional banking system. Wells Fargo, Bank of America — those banks have been [operating] for like 100 years, and they never, ever sold customers’ data,” and further stated that “the only time data was lost was because they got hacked.”
Ta pointed out that she “matured on Wall Street,” which is perceived to be more powerful than banking network, and that has made her respect privacy.