Blockchain industry has started to make a name for itself in the Indian market. With the technology offering advantages of open ledger and decentralised peer-to-peer communication, several entities are tapping the potential and changing the lives of people. NewsDog app in India is one of such use case. NewsDog released a blockchain-backed app on Google Play last week.
“NewsDog’s new blockchain backed app breaks traditional barriers within content communities, if you are a writer, consumer or an advertiser, everyone on the NewsDog app have an incentive to create, consume, circulate and engage with the content of their preference,” said NewsDog app COO and Co-Founder Yi Ma.
NewsDog has been in the Indian market for the last two years and has a diverse user base of more than 40 million across iOS and Android platforms. It offers content in 10 different regional languages. The app has introduced engaging features like read, share and an ‘earn incentive program’, besides trivia quiz contest etc.
NewsDog has now released its first test app that uses blockchain technology to enhance the user experience.
The company has partnered with a Singapore-based blockchain firm CNN — Content Neutrality Network — to enhance some of its existing features and migrate them to blockhain.
“NewsDog with the help of CNN has successfully launched blockchain’s unique use case in India, some of our existing features will be on-chained, users now can receive cryptocurrency (CNN tokens) by engaging with various content on the app, I am delighted to see the response the app has received so far in the short span and it’s heartening to see the knowledge of blockchain is well spread among Indian consumers,” added Yi, who holds a PhD from Princeton University and has previously worked with giants like Baidu and Goldman Sachs.
The new app, so far available for Android phones, allows its users to upvote, share content and comment. It will also help users accumulate real cryptocurrency called CNN tokens from the app.
According to the company, when a user invites a friend to use NewsDog, he or she can obtain a certain number of CNN tokens as a reward. Also, users who log in to the NewsDog app every day stand to get a certain number of CNN tokens
“An existing user can share the app and invite his/her friends to join the app and receive CNN tokens in the app, this would incentivize the user to share the app extensively across various communities”, said Yi.
This can help NewsDog save a lot of user acquisition costs and channel the funds towards content development and other services.
Using blockchain technology, NewsDog plans to add more features to the app, such as a cricket fantasy league, personalised expert advice and sharing of advertising revenue.