LINE introduces five dApps as it unveils plans to launch token economy

Messaging giant LINE has announced plans to launch five new decentralized apps (dApps) as it unveiled its plans to launch its own token economy.

The dApps will be launched in five service categories including prediction, Q&A, product review, food review, and location review using social media. The announcement follows the official introduction to LINE’s first digital token “LINK” and its first blockchain network, LINK Chain in August 2018.

“Two dApps – prediction service 4CAST and knowledge-sharing platform Wizball – were released in September ahead of the rest as beta versions, providing a first-hand experience of the LINK ecosystem to a limited number of users,” the release said.

In addition, Pasha, which enables users to write reviews and search for products using photos; STEP, a social media platform; and TAPAS, a food review platform, are scheduled to be released this year.

During a press conference last month, the company revealed the specifications of its LINE Token Economy concept. According to the details, the LINE Token Economy will use LINK Chain to build a LINK Ecosystem that “aims to flatten the relationship structure between users and service providers to promote co-creation and mutual growth.”

In addition, LINE said that it is planning to publicly release a development kit in anticipation of third-party services to join the LINK Ecosystem starting 2019 (tentative). By using this kit, service providers will be able to implement a token economy without the need to spend a vast amount of time and money building their own blockchain network and token economy.

The company also announced that it will start offering LINK (for markets outside Japan) from the global digital asset exchange BITBOX starting October 16.