Kik Interactive, the Canadian creator of the chat platform Kik, has announced that it is launching Kin, its own native cryptocurrency. Kin will be created as an ERC20 token on the Ethereum blockchain and will be integrated into Kik as the primary transaction currency.
Ted Livingston is the founder and CEO of Kik.
Kik Messenger has over 300 million registered users, and is mostly popular with teenagers. It is known for features preserving users’ anonymity, such as allowing registration without a telephone number.
Kik plans to create a decentralized ecosystem of digital services through four steps: create the Kin cryptocurrency on Ethereum; integrate Kin into Kik; develop the Kin Rewards Engine, a crypto-economic structure intended to promote the use of Kin as a common currency; and launch the Kin Foundation, a non-profit governance body for the Kin Ecosystem.
