RSK a Bitcoin smart contract startup, which describes itself as the “first open-source smart contract platform secured by the bitcoin network”, announced that it is buying Spanish social media platform Taringa.
The connection of two companies will let users share their content and get rewards via IOVLabs’ RIF token. RIF released in November 2018, and it already has a market capitalization of $46 million.
Taringa platform is based in Argentina and has a prominent presence in Spain and Latin America. In Argentina it is used by over 28% of all Internet users this is a higher per cent than Snapchat, Skype and LinkedIn users in the country. Based in Gibraltar, RSK is making attempts to give citizens of Spanish-speaking countries a decentralized alternative for protecting their finances.
RSK wants to make cryptocurrencies mainstream, and although Facebook is trying to launch its currency Libra, which will surely make cryptocurrencies massively adopted, the launching process will take some time because of the governments' opposition. In this case, if RSK implements its wallets into Taringa platform, it will automatically double the number of people who uses crypto wallets worldwide.
The startup has already started working on the development of features for Taringa and expects to perform them in the second quarter of 2020.