Ask.fm is one of the biggest names in the Q&A space. In fact, they’re one of the most successful social platforms that have ever existed on the internet.
They’ve been around since 2010 and boast about 215 million users. That makes them an enormous platform with a massive amount of popularity and influence.
And now, along with many other companies like Telegram, there’s a good reason to believe that they’re planning an ICO.
Interesting, right?
Nothing is confirmed, and the details are still far from being set in stone, but there has been a good amount of evidence mounting recently to back this up.
Before getting into why Ask.fm might want to consider an ICO, and why this could really benefit them, let’s take a look at the current clues.
Too much evidence to ignore
One of the first tip-offs that Ask.fm is planning something is this website. Right now, it’s pretty basic — the words ‘Ask.fm 2.0’ don’t really give much away. But it’s definitely enough to get you thinking. 2.0 suggests an upgrade of some kind, but what do they have in mind?
The mystery develops, even more, when you head to the job boards. This posting, and this one are two examples of blockchain developer vacancies with a ‘global social Q&A network’ with offices in Latvia, which just so happens to be where Ask.fm is headquartered.
Now, why would a company want to hire a blockchain developer? It seems likely that they’re considering developing some blockchain…
And, just to fuel the fire, even more, there are some very interesting domain names that have been registered recently. Like askfmico.com, and icoaskfm.com. Interestingly enough, a quick whois.net search on these domains reveals the registrant is Ask.fm Europe Limited.
It’s hard to argue with this amount of evidence. Clearly, Ask.fm are planning something in the blockchain and ICO space.
But why would they do this? Well, as it happens, blockchain could be the perfect tool for Q&A platforms like Ask.fm.
Why blockchain is great for Q&A platforms
Blockchain has a ton of benefits for Q&A services like Ask.fm. Because it allows networks with no central point, it’s ideal for exchanging info on a peer to peer level. This creates a more open and democratic discussion, with less need for management.
It’s also transparent, secure, and highly anonymous, as we’ve seen in cryptocurrencies. That helps preserve one of Ask.fm’s key features — that users can interact on the platform without sharing their identity.
It’s not clear how an Ask.fm blockchain platform would operate, but one theory could involve rewarding users for asking good questions with tokens and rewarding helpful answers. That provides more of an incentive to take part and could boost engagement.
But a financial incentive has other benefits, too. It leads to a kind of automatic moderation, where users will be much more likely to give a serious and well-thought-out answer if they could be rewarded with money. That helps fight trolls and spammers who are often the ruin of such platforms.
Why are they doing this now?
So, it seems like Ask.fm could really benefit from blockchain, but why are they making the move now? Well, we’re at something of a pivotal point in blockchain’s history.
As the technology separates itself from Bitcoin and shakes off some of the negative press it was unfairly burdened with, lots of companies are considering it. Telegram has already been mentioned, but there are plenty of others like J. P. Morgan, Starbucks, and KODAK.
For Ask.fm, doing an ICO now could mean a lot of publicity, good press, and a more positive image. It makes them look smart, cutting-edge, and ahead of the curve.
At such a crucial moment in the history of the internet, getting involved in a trend like this early on could yield massive benefits down the line.
Image: Ask.fm Facebook Page