Hello everyone. I just got back from
visiting TicTalk and VeChain offices in
Shanghai. Right now I know everyone in
the VeChain world is trying to figure
out: What is TicTalk? A simple answer is
it's a decentralized social media
platform designed to generate value for
the users
TicTalk believes that the future of
social communication will no longer just
be the transmission of information, but
also the transfer of value. First off, I'd
like to just give you some background
information on the app so that you can
make a more educated decision right now.
TicTalk is only available in China,
their international platform is
tentatively scheduled for quarter 3 of
this year. It will include several main
features: First, the TIC token allows
users to reward content creators for
sharing photos and videos that they like,
if you see something that you're
interested in, or you just want to make a
good impression, you can tip them with
TIC tokens directly through the app.
Second, smart contracts allow users to
add fees that will automatically charge
other users for calling you through
video, voice, or texting services. Right
now TicTalk is working on setting up
deals with local law and Medical
Association's to provide their
consultancy services directly through
the app. All the billing is handled
automatically by smart contracts so if
the user agrees to it, the tokens will be
deducted from their account directly
after the services are rendered. And since
all the smart contract meta data is
uploaded directly to the blockchain,
users will be able to verify the history
of a consultant before using them. Third,
TicTalk is also integrating facial
recognition features allowing users to
search for people that they wish to
follow, and you can do that by scanning a
photo, a video, and of course a real
person. So if you download the app you
could probably scan this video right now
to follow my account. This feature of
course can be toggled on or off, so you
can respect the privacy of people who
are more discreet. This feature is both
fun and useful, and it's a great way to
connect users, whether it's someone
famous that you're scanning on TV or
just a person in your class, or someone
that you met at a dinner party. A fourth
feature they have is multiple identities.
TicTalk lets users create separate card
for each of their different identities.
This is a great way for people who want
to post content regarding, you know,
hobbies such as video gaming, that they
wouldn't want their bosses or family
members seeing. TicTalk is trying to
build a thriving social media platform
based on the transfer of value rather
than just information - and if you're
worried that this is just some random
ICO launching on the VeChain platform, it
goes way deeper than that. The CEO and
founder of TicTalk was one of the
original investors in VeChain back
before the ICO days. Today, they still
share an office together and TicTalk is
part of the VeChain incubation program as
they explore ways that TicTalk can
build their blockchain based ID systems
into VeChain's existing services. That
includes the services with DNV GL and
potentially some government
organizations. If you are looking for
investment advice, I can't really help
you there. I will say that in China the
app makes a lot of sense. If they
optimize and promote it well, I could see
people being very attracted to the value
based model, as well as the creative ways
that TicTalk connects people. A big
mistake that non-Chinese investors make
is applying their own cultural
perceptions to China - but especially
online, China's market
is going to be attracted to
many different things. I'm optimistic
about their integration with VeChain. If
they get the formula right, TIcTalk will
be a valuable platform to browse, upload
content, and generate revenue - while at the
same time creating incredible volume and
traffic for the VeChain mainnet.
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