Changpeng Zhao Proposes New Crypto Model for Social Media Interactions
Changpeng Zhao, the former CEO of Binance, recently shared his perspective on the emerging idea of tokenizing the time of social media influencers.
He highlighted the potential of this concept and teased a possible investment by YZi Labs in a new project that utilizes Binance Smart Chain (BSC) and Binance Coin (BNB) as the main payment methods.
Zhao revisited the idea of “time tokens” through a post on Binance Square, where influencers could tokenize their time and directly charge users for interaction. While previous attempts to implement this model faced challenges, Zhao believes that with some refinement, it could become a feasible solution. He proposed a platform where verified influencers link their social media profiles, such as X (formerly Twitter) or LinkedIn, to ensure credibility.
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Influencers could set a fee (e.g., 1 BNB or 0.1 BNB) to receive messages, with the added condition that if they fail to respond within five days, half of the payment is refunded. This would reduce spam and promote more timely interactions.
Zhao also expressed personal support for such a platform, mentioning that he would donate any received cryptocurrency to charity. He emphasized that this model could help filter out less serious interactions and encourage meaningful conversations. The idea could also incentivize rewards for helpful tips or even provide refunds in certain cases.
In addition, Zhao revealed that YZi Labs is considering an investment in a refined version of the time tokenization concept, with the project currently in the early stages of development. He stressed that the platform’s security and functionality would be crucial and noted that, if secure, he would be among the first to use it once it launches.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
