Indorse Announces Partnership with App Store Cryptocurrency, AppCoins, ahead of MVP Launch

Created by Aptoide App Store, AppCoins will serve 200 million active users

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Richard Kastelein
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Indorse, the decentralized social network for professionals, has announced a strategic collaboration with AppCoins, the first ever token sale serving 200 million active users, supported by the Aptoide App Store.

The collaboration comes before Indorse’s MVP launch later this month and will see both companies working together to share data between their individual user reputation systems. This will allow Indorse users to verify the ownership of any app on Aptoide App Store and will let Aptoide users check an Indorse developer’s reputation.

Aptoide is creating the first cryptocurrency for app stores, AppCoins, which is set to become an open protocol adoptable by any app store, addressing the main inefficiencies of the app economy, such as mobile advertising, in-app billing and app approval. AppCoins aims to create a more transparent and secure app approval process and will collaborate with Indorse  on its developer reputation system.

Within the scope of the partnership, all Indorse investors will be granted access to the exclusive pre-sale of AppCoins, which will close on November 20, 2017.

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Gaurang Torvekar, co-founder and CTO of Indorse, said:

“From the start of our journey, it has been our aim to provide users with benefits that current social network sites are denying them, such as data ownership, privacy, and security. In order to take on the leaders in this space, we require a strong network of partner platforms utilizing the reputation system and AppCoins is one of them.”

Unlike traditional platforms, Indorse is building a serverless, decentralized network where professionals have full control over their own data as they build their professional profiles and share skills on the platform, benefiting from the platform growth and data insights rather than third parties. Through participation in the platform, members of Indorse are able to earn rewards for sharing more about themselves and for “indorsing” the claims of others.

Indorse completed its token sale, raising approximately USD 9 million in September, 2017. Since then the team have worked towards the rollout of the platform; the first release, which takes place later this month, will see the launch of the CV visualizer and the main profile page.

Tiago Alves, VP APAC for Aptoide, added:

“We believe that the collaboration with Indorse will be beneficial for both the platforms, since AppCoins can benefit from Indorse’s reputation system to validate the profile of new Android developers and, on the other hand, all the apps uploaded to Aptoide can be an additional data point for Indorse to validate someone’s skills”.

With AppCoins, users can earn tokens through engaging with app advertising and then spend this currency on in-app purchases (such as game items  and upgrades). Users who currently lack access to traditional payment methods will gain a chance to buy items that were previously inaccessible. In addition, a blockchain ledger will record all developers’ reputations, increasing the reliability of apps in the marketplace. In addition to the greater user engagement potential, the model removes the need for payment or advertisement intermediaries. This promises greater return on investment and increased monetization potential for developers.

AppCoins’ potential extends beyond the Aptoide platform, as the tokens will be made compatible for all app stores. With that in mind, an App Store Foundation will be created to coordinate the development of the protocol and reference implementation under an open governance model.

For more information on this collaboration, visit www.indorse.io and https://appcoins.io/

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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