Srini Katta-based social economy platform SocialChains is using blockchain technology to verify users, giving them access to a secure environment where they have full control of their data, according to founder Nascent Houston. The site, currently in beta testing, has around 5,000 users, with between 20 and 30 added daily, Katta said. SocialChains also has its own cryptocurrency and gives users 10,000 of its S tokens for signing up, alongside bonuses for those who bring new users to the site. Eventually, 1,000 S tokens will be redeemable for a crypto called SOCT, worth $1.
Nascent Houston-based social economy platform SocialChains is using blockchain technology to verify users, giving them access to a secure environment where they have full control of their data, according to founder Srini Katta. The site, currently in beta testing, has around 5,000 users, with between 20 and 30 added daily, Katta said. SocialChains also has its own cryptocurrency and gives users 10,000 of its S tokens for signing up, alongside bonuses for those who bring new users to the site. Eventually, 1,000 S tokens will be redeemable for a crypto called SOCT, worth $1.