This digital currency, used in Japan, is based on blockchain. The currency is issued in form of ALS tokens. It is used on a social media like environment, where users can share opinions, articles, and form communities. The higher the trust ratings and popularity of users and content, the more tokens the users earn. The ALIS currently caters only to Japan. The promoters aim to offer users alternatives to current social media platforms, with emphasis on a platform that caters to Japanese users.
ALIS is traded on the platform and users can receive coins for their articles and other content. The more trustworthy a user is, the more they get to earn. This is based off the Japanese notion of rewarding authenticity. This system is specifically geared toward social media users in Japan. The developers wanted to offer an alternative to traditional social media, and knowing the heavy market for social media in Japan, decided to launch ALIS. Since Japan is also one of the leading cryptocurrency markets in the world, the promoters found it but natural to offer digital currency as payment for authentic content. The social media platform also allows high degree of information exchange and communication, which is one of the basic principles powering digital currencies, which depend on user participation for growth.
The first ICO was offered in September 2017. Currently, a dollar can buy a few thousand tokens. The social media platform is expected to grow on the base of trusted content. The site does away with ads, which adds to the credibility of the content. The developers were inspired by the Steem platform so users familiar with Steem may find the ALIS to be useful. ALIS attempts to create something similar, with one difference. The token system on Steem, deemed too complicated, has been simplified with the use of digital currency ALIS.
ALIS relies on decentralized social media to encourage users to generate authentic content. Also, the site relies on just one currency, ALIS. The platform also allows non Japanese promoters a chance to invest in the Japanese bitcoin market, the largest in the world. Currently there are regulatory hurdles for non Japanese players to trade in the local market, and the developers of ALIS want to change that.
For those who want to earn digital currency, or transact in digital currency, and happen to be content consumers or publishers, the ALIS platform offers promise. While currently it is relevant to the Japanese market, with the promoters target being global growth, the currency shows promise.
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