VoxWeb, the Singapore-located social media company, declared its plans to roll out Vollar, its cryptocurrency. The firm claims that Vollar will allow VoxWeb to monetize via fintech-based and social-commerce solutions without any requirement to serve targeted advertisements. It also plans to resolve the primary challenges in the mass acceptance of volatility, cryptocurrencies, and liquidity via its currency policy. The firm is ready to provide its early accepters a chance to win free Vollar coins, on the basis of their employment of VoxWeb social media application.
CEO and founder at VoxWeb, Yash Mishra, said, “For a cryptocurrency to be productively operable on a social media website, a high amount of modernization is needed when it comes to developing its currency regulation. With Vollar, we are dealing with the critical problems of liquidity and volatility by pegging it against the leading 20 fiat currencies all over the globe. The currency policy of Vollar that deals with the distribution and minting of new currency will replicate G-20 central banks to guarantee that it is viewed as one of the most authentic cryptocurrencies all over the globe.”
On a similar note, in an attempt to get consumers to utilize VoxWeb more energetically, the firm has pledged to award its first set of early accepters with Vollar coins, on the basis of their usage and activity levels on the platform. Presently, according to the firm, VoxWeb has a consumer base of more than 2 Million consumers from 98 nations all over the world.
The firm says that Vollar will be accessible even in those nations where either central banks or government have barred cryptocurrencies (including India). It also claims that while Vollar will be the authorized currency of exchange on VoxWeb for social commerce, people will also be capable of using it as a store of value and trading it on crypto-exchanges.