IOVLabs Taringa
IOVLabs To Acquire Spanish Social Network
September 28, 2019
IOVLabs Taringa
IOVLabs To Acquire Spanish Social Network
September 28, 2019

IOVLabs, the parent company behind RSK‘s bitcoin smart contract network, declared its acquisition of Taringa, a Spanish-language social networking platform, on September 27.  With the deal, IOVLabs announced that it will also integrate RIF, RSK’s native token, into Taringa.

It has been reported that in a press release, IOVLabs said that Taringa is going to both incorporate and test RSK decentralized applications and infrastructure.

However, Taringa, one of the largest Spanish social media applications, claims to have some 30 million users, 1,000 active communities, and 8 million daily shares on its platform.

It has also been reported that “IOVLabs chose Taringa because of its strong dominance in Latin America and Spanish speaking audience and the unique position the region has to lead cryptocurrencies mass adoption,” the company told CoinDesk.

Based in Gibraltar with offices in both South America and East Asia, RSK launched its main net in January 2018, and the RIF token the following November. RSK’s smart contract network is based on the bitcoin state’s hashing power which the company asserts to give its network high security.

Diego Gutierrez Zaldivar, the CEO of IOVLabs, said in a statement:

“We see Taringa as the first step towards the massive adoption of both RSK and RIF platforms.”

Diego Gutierrez Zaldivar

In a partnership with Xapo, a bitcoin custodial service, Taringa integrated bitcoin into its app in 2015. Under the deal, the top content creators on Taringa received bitcoin tips for their work.

ALSO READ :  Polychain and a Chinese Bank are Betting Millions on STO

However, commenting on the acquisition, Matías Botbol, the CEO of Taringa, said that Taringa is excited to bring more advanced digital products to its users.

Botbol added:

“Once this is in place, we envision adding more features, including peer-to-peer token exchanges, a marketplace for other dApps to start offering products and services to our users, and more. Our ultimate goal is to create a new open, decentralized Internet that respects an individual’s freedom of speech and privacy.”

Matías Botbol

However, IOVLabs has allocated some $5 million in assets towards developing products for Taringa.


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

A Brief Overview On Wrapped Token

A Brief Overview On Wrapped Token

A wrapped token is an ERC-20 token with a value identical to another asset that it represents, either through a smart contract or by being backed one-to-one with the underlying asset. It is an asset hosted on the...

Blockchain in the Tourism Industry

Blockchain in the Tourism Industry

Tourism can be defined as traveling to a place that is different from your home city or country for various leisure or business purposes, and staying there for some considerable period of time at a length. It becomes...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
Share This

Share This

Share this post with your friends!