Monarch, a platform that provides a universal crypto wallet and a fiat to crypto exchange, is partnering with Sapien, a decentralized social news platform powered by its proprietary token, the SPN. Content creators on the Sapien network, in tandem with the Monarch wallet, will be able to operate in a more complete cryptocurrency ecosystem.
Fighting Fake News In A Crypto Ecosystem
A social news platform, Sapien resolves to fight fake news, with a reward-based system for content creators, coupled with its global reputation system, in which creators’ work is evaluated by other users and accrues a reputation score. In this way, the network maintains quality content and curbs fake news.
Through the former method, Sapien rewards its users with the native coin, the SPN. Users can in turn use their SPN for crowdfunding posts, tipping the content of others and buying digital and physical goods in the Sapien marketplace.
Through the latter method, a reputation score relays a user’s expertise in a particular domain, to differentiate valuable content from trolling and fake news.
The CEO and Co-Founder of Sapien, Ankit Bhatia has chosen to incorporate the Monarch platform with Sapien due to its exhaustive features. He said:
“Monarch offers a comprehensive crypto-wallet with a slick user interface. Our partnership will help provide Sapien users with a secure payment solution to manage SPN tokens and other digital assets.”
A Growing Platform And A Compatible Wallet
Sapien has gained approximately 4,000 active users since its beta program launch in April 2018. The Sapien community has garnered more than 11,000 pieces of content and over 17,000 comments, metrics similar to Facebook and LinkedIn during their budding stages. Sapien runs on a Web 3.0 infrastructure and retains the privacy of its users.
Sapien users will benefit from the Monarch wallet, as it provides certain features not found in other wallets. These features include a patent pending process for decentralized recurring blockchain payments and a merchant plugin. The plugin allows users to pay in cryptocurrency and to convert crypto funds to fiat instantly.
Sapien users will also have access to the Monarch Exchange, which is set to launch in the beginning of 2019 or earlier. The exchange grants more options for coin listings.
Hungry for more cryptocurrency news? Check out our website and read the freshest developments in the crypto world.