Kin Ecosystem could actually achieve just this. Started by the Kik CEO and development team; they want Kin to sit at the center of a new digital economy inside Kik (the messaging app).
The White Paper Review: 28 Pages compressed down in to a tl:dr for you guys
Kik initially was searching for a sustainable currency model that did not devalue the user experience.
Its goal is to encourage the development of a digital services ecosystem that is fair and open. Kik prefers to be a participant rather than a landlord in this user-first economy.
Instead of relying on other people to come around with something they liked, Kik took some initiative and began developing a new currency by the name of Kin; relating to the word "Kinship". Kik has been messing around with in-app currency since 2014 and successfully launched Kikpoints. Arguably the same concept and mind set that was behind kin but not developed in to the blockchain. As well as the fact that Kikpoints could not be developed in to the ecosystem that they is developing behind kin.
The Kin Rewards Engine will use economic incentives to bring other digital services and applications into the decentralized Kin Ecosystem. Inspired by previous systems like Bitcoin’s block rewards and Steemit’s posting rewards the Rewards Engine will create natural incentives for digital service providers to adopt Kin and become partners in the ecosystem.
Well would you look at that :) they gave us credit guys!!!!
Now lets dig in to the currency its self
In character, Kin is a pure cryptocurrency of fixed supply. It is fractionally divisible and long-term noninflationary. However, as described below, only a small portion of the Kin supply will become liquid in the near future, as most of the Kin supply is reserved for the Kin Rewards Engine.
A scary forewarning for users but reassured with the fact that kin will be fungible and transferable and will be expected to trade on to exchanges. It will also be implemented on the Ethereum Blockchain as an ERC20 token.
Now about that Ecosystem
Kik's Kikpoints experiment shows us that there is a demand for this kind of user interaction on their platform. Infact, kik has the highest amount of AI-bot using it than another network. (Good or Bad)
In addition to chat, Kik maintains an industry-leading bot platform: over 187,000 bots have been created by third-party developers.
A downside to kin is that they technically have no working product they are run by the same team that made kik. Their wallet is set to be released in Q3 of 2018. While some people may find this irritating, I personally find it calming knowing that they are not trying to rush anything. Being a gamer for many year, there was honestly nothing worse than an unfinished game. I would have rather the developers delay their time to create a better game than just take my money and feed me some absolute S*@T. (Destiny 2 in case you were wondering). So I am confident in their wallet being up to par when it will be released.
They have multiple potential use cases in their white paper, I will post them below.
VIP groups
premium user-generated content
shoutout messages
tipping
bot monetization
For all of you busy people out there this might grab your attention Bots can perform services, order food for delivery, or operate games that offer in-game purchases such as creative assets, gameplays, or other media.
To help aid in their mission as well as their long term goals, majority of the supply allocation of kin will serve as a monetary reserve at the limited discretion of the foundation. Kin will then administer the kin reward engine. As a summery the main technologual goals that kin will have will be to
(1) a transaction service that will enable centralized digital services to utilize Kin at scale
(2) an implementation of the Kin Rewards Engine
(3) a decentralized identity service for users of Kin
Near the end of the white paper they identify some potential weaknesses that kin may have. They are worried about the increase in the number of transactions on the ehtereuem blockchain increasing 163%.
However I am finding their solution to be very interesting. they will initially implement a semi-centralized hybrid on-chain and off-chain for scalable interaction. They believe that his will improve user experience, avoid network fees, and avoid stress on the network.
Let me know what you guys think about that in the comments!
If you want me to review Kin's Reward Engine let me know! It's a potentially awesome project!
By no means is what I am offering financial advice in any sort of way. I am just here to review and post my opinion on the Kin Foundation.
Currently Kin is trading on
Bancor Network
Etherdelta
Mercatox
COSS
CoinFalcon
IDEX
At the time of writing this post this on 1/27/2018, this coin is at $0.00038 and only 3 sat.
There are 10 trillion total tokens of kin but only 750 billion are in circulation at the moment.
I don’t post a lot on social media but I am always using it to find great ideas. if you want to follow me I will link the main platforms I use below.
Reddit:
r/FatttGiraffe
After every post, I will include a few of my wallet addresses. By no means is anyone obligated to donate to me. This is not my full-time job and I am not an investment expert; hence the title “Beginner to Expert”. If by change anyone does donate to me it will 100% be put back in the market to increase initial positions or invest in new coins.
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