Sometimes you need a bit of incentive to use a product. That’s the thinking at the Chinese company Baidu, which is offering a token to get people to use its new blockchain-based photo-validating and -sharing service.
Baidu said the photo-sharing platform, Totem, is now live and features a dedicated token called Totem Point, according to a local news report. Coindesk reports the launch marks the first blockchain application to be released on Baidu’s private XuperChain network.
Baidu will start with four billion Totem tokens, according to Coindesk, “with an annual inflation rate of 4.5 percent to encourage individuals and institutions to submit original photographs.” Read more here.