What is TicTalk?

TicTalk is a project from the VeChain Incubation program, a decentralized social media platform designed to make social media less about information and more about value. This blockchain-based social identity platform has a number of key features:

The TIC token:

The TIC token allows users to instantly transfer value to others. This is great for rewarding quality content, or just trying to make a good impression on someone.

Multiple Identities:

Great for users who want to set up professional accounts separate to the accounts they use for friends or family.

Option to set a fee (in TIC) for being contacted:

This is a great way for professional accounts to offer their services to the public. TicTalk is setting up deals with legal and medical associations, as well as other consultants in China to provide their services (via phone call, text messages, or video chat) on the platform. Users will be notified if a person they are attempting to contact requires a fee. If they do, and the user agrees, smart contracts will automatically settle the transaction. For example, a video chat session with a doctor will be billed at a per/minute rate. Since the platform is decentralized, all fees go directly to the user providing the service. And by having a fee set to contact you, spammers and advertisers will think twice before filling your inbox with unwanted offers.

The meta-data from these paid interactions is all recorded to the blockchain, so that users can verify the history of these accounts. In this manner, TicTalk is looking to revolutionize the way these service industries conduct business. TicTalk uses VeChain’s MPP protocol to pay the blockchain’s gas (VTHO) fee for these transactions, allowing users to record data to the blockchain free of charge.

Facial Recognition:

Scan a person (or a photo/video of a person) using your phone’s camera to see if they are registered to the platform. This is a great way to connect to users, especially premium users such as celebrities or models looking to raise their user-base. It’s also a fun and convenient way to add peers and people you meet in public. This feature is turned off by default, to protect the privacy of unwilling users.

Blockchain-based Identity Solutions:

As part of the VeChain ecosystem, they are working with VeChain, as well as VeChain’s partners, to integrate their identity solutions into other areas. Currently they are exploring potential solutions with DNV GL and the Carbon Credits platform.

China-based model：

TicTalk is focusing their local platform on China. Their value-based model should fit nicely into a society with a habit of digital payments and monetary gifts. By targeting key markets such as gaming, cosplay, and the large single demographic, TicTalk’s user-friendly interface should allow for quick adoption. Additionally, adding on professional accounts such as lawyers or doctors should give the app a unique and valuable use case.

The Chinese platform has already been released, in a limited fashion. It currently uses an alternative financial model, based on credits and in-app purchases to provide value. This is necessary in order to be compliant with local regulations. As government regulations become more transparent, TicTalk will look to shift to a single platform, all utilizing the TIC token.

International Platform:

Launching later this year, the TicTalk International platform will have all the features listed above. Users will be able to swap TIC tokens freely, as TicTalk attempts to create a global network based on value. TicTalk envisions a future where traditional phone numbers and global boundaries no longer exist, and all interactions are based through social media.

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