IOVLabs Subsidiary RSK Buys Spanish Social Media Platform Taringa

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by Janis Rijnieks · 3 min read
IOVLabs Subsidiary RSK Buys Spanish Social Media Platform Taringa
Photo: Taringa! / LinkedIn

A subsidiary of IOVLabs, RSK, has purchased a Spanish social media platform Taringa and got access to its nearly 30 million users.

Recently it has come to light that RSK, an IOVLabs subsidiary, that calls itself the “first open-source smart contract platform secured by the Bitcoin network”, has purchased Taringa. It is important to highlight that it is the most popular Spanish-speaking social network with 30 million users. According to the recently revealed data, this platform is used by 28% of internet users. This figure is better than the results of Snapchat, Skype, and LinkedIn.

RSK also has a native token RIF which was released in November 2018 and has a market capitalization of $46 million. Its main incentive is to offer this feature to countries that are in the midst of an economic crisis, like Argentina, Venezuela and other similar Spanish-speaking countries where there is no need to provide an explanation of what and why about Bitcoin and altcoins. IOVLabs CEO Diego Gutierrez Zaldivar noted:

“If you go to the first world and you start talking about bitcoin and decentralized platforms, you need to explain why. In Latin America, you don’t need to explain why. People understand why instantly, so they jump right into the how and who. It’s a different reaction. That’s exactly why we chose this social network.”

The ability to access Taringa’s user base will give the company an astonishing amount of data and information. With this information it will test and distribute a completely new decentralized infrastructure and dApps that will be powered by the RSK platform and RIF token.

IOVLabs together with Taringa plans to develop innovative consumer products, features and services for their communities. Taringa says that they have over 1,000 active online communities at the current moment.

“This acquisition puts us at the forefront of adoption in distributed ledger technologies. Having access to such a large community will also be invaluable for gathering quick feedback from users of all the RIF-powered tools and protocols we are launching in the near future. We see Taringa as the first step towards massive adoption of both RSK and RIF platforms, and a great step forward for our long term vision of empowering individuals through decentralization,” said Diego Gutierrez Zaldivar.

RSK claims that it is the most secure smart contract platform in the world “as it relies on Bitcoin’s hash power”. The company is already developing its first feature for Taringa’s platform and they expect it to deploy in the second quarter of 2020.

Taringa is very similar to Facebook. Its users can share, post, in other words – create content as well as find and establish contacts with people with common interests. Now, with the help of RSK, RIF, and IOVLabs, these users will be able to monetize these contributions.

“We are very excited about joining forces with the creators of RIF and RSK, as we truly believe that our users and communities should benefit from the contributions they make to our social network,” commented the CEO of Taringa Matías Botbol.

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Janis Rijnieks

Janis is a cryptocurrency enthusiast and a bitcoin adherent. He has a background in video production, but for the past couple of years, he is a full-time crypto researcher and writer. He has a good understanding of multiple cryptocurrencies and loves to cover daily news. He considers himself a semi-bitcoin maximalist but always is open to any kind of new ideas that could be put on the blockchain. In his free time, he likes skateboarding and cars.

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