Facebook Libra Cryptocurrency Vs Kik KIN Digital Asset: A Look At Two Tokens Side By Side

It seems that Facebook and Kik planned a digital currency for their networks with the intention to improve their revenue model. Kik seems involved in many issues with regulators while Facebook has already the support of companies from different countries and regions around the world.

  • Kik and Facebook seem to have similar interests
  • Both companies want to improve their revenue model

Facebook has recently released the Libra cryptocurrency, which aims at improving Facebook’s presence in the financial system. In order for users to use the new digital asset, they will have to install the wallet Calibra, which is expected to be released to the market in 2020. There have been several backers and partners behind the launch of this digital asset and project, including PayPal, MasterCard or Mercado Libre, among others. Now, there are several analysts trying to understand which are going to be the effects of this announcement in the crypto market and in the largest digital assets.

Facebook’s Libra Vs Kik’s Kin

There is another digital currency that was launched by another messaging application. Tech Crunch wrote an article in which they compare Kik’s Kin, which is also a social network. A short time ago, Kik was in the news due to a current U.S. Securities and Exchange Commission (SEC) lawsuit that targeted Initial Coin Offerings (ICOs), and Kik ran one in 2017. According to the regulatory agency, Kik’s $100 million ICO was illegal because it was not registered with any agency.

At Creative Destruction Lab’s Super Session, Ted Livingston, the CEO of Kik, said that Kin was originally created to address the challenges that Kik had. Although Kik never achieved the scale of Facebook, it had moments of impressive success in terms of the number of users in the community. One of the main differences that this network has with Facebook is related to the fact that Kik never pursued an aggressive ads-based campaign.

The CEO of Kik explained that Kin made sense because it was an effective and easy way for people on the platform to exchange value. As per Darrell Etherington, the author of the article at Tech Crunch, the major difference between Facebook and Kik is the scale of their companies.

Kik needed a digital currency as soon as possible, this is why they’ve decided to start an Initial Coin Offering and gather funds. Meanwhile, Facebook was able to bring into their network collaborators that were able to work on the digital asset they released. They also have the possibility to keep expanding their business model through advertising.

As the author explains, both Kik and Facebook were searching for a new revenue model other than advertising, which could make their businesses much more sustainable and palatable to consumers.

Facebook will have to prove that their digital currency is able to fulfill the expectations that the market currently has. They might be able to help users around the world have access to financial services and allow them to transfer value as they send or receive a text message. Now it is just time to see which is the effect that Facebook’s Libra is going to have in the space.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

YFI’s Andre Cronje isn’t Going Anywhere; ‘This Space Won't Get Rid of Me'

Andre Cronje, the guy behind yEarn and the popular YFI, is not leaving the cryptocurrency space any time soon, at least, “until there is...

Crypto Mom, Hester Peirce, Secures Second Term as SEC Commissioner Through 2025

The US Securities and Exchange (SEC) Commissioner Hester Peirce, aka “Crypto Mom,” has been confirmed for a second term that will last till June...

yEarn Expanding its Ecosystem to Bring in Hot DeFi Tokens into the Mix

DeFi craze continues to get hotter as the system grows. yEarn’s zero supply valueless token YFI climbed to a new high today at $5,300 and...

Bitcoin Dollar Cost Averaging From 2017 Market Peak Still Returned 61.8%

Bitcoin price remains strong, not far from hitting $12,000 yet again after the touch and go over the weekend. Interestingly, despite the fact that the...

DEX Leader Raises $11 Million in Series A Funding for Uniswap V3 Following an Explosive Month

A popular and widely used decentralized exchange (DEX) Uniswap has raised $11 million in Series A funding led by Andreessen Horowitz with additional investment...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today