GETTY A Plus One Coin could allow social media users to earn money for popular posts

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Entrepreneur Clem Chambers has released the groundbreaking social media cryptocurrency which could allow social media users to earn money for viral posts and reward online engagement while fighting against fake accounts. He said: “The blockchain is a very real thing and if you look at the internet you’ve never seen so much fake stuff in all your life; fake followers, fake views, fake IDs, fake Twitter accounts, fake news. “There has never been more 'fake' out there and the blockchain gives you gives the ability for people to actually socially validate what they read and what they like.” The blockchain is the digital ledger which keeps track of every cryptocurrency transaction with every computer involved in mining Bitcoin holding part of the record.

On-line PLC saw its share price rocket by 400 per cent after it changed its name to On-line Blockchain PLC to reflect an update on the nature of their business. The firm’s CEO said: “It is like a ‘like’ but not a ‘fake like’ because it is on the blockchain.” The new cryptocurrency is designed to fight against fake online interactions and views by using the same blockchain system which keeps track of cryptocurrency transactions to track what posts are real.

The blockchain is a very real thing Entrepreneur Clem Chambers

The system also allows people to reward content they like by giving the creator a small amount of cryptocurrency. Popular posts online can earn hundreds of thousands of views and likes. Mr Chambers said: “I can buy fake likes on Facebook, all day long, I can buy fake views on my Youtube channel, I can buy fake followers on Instagram, I can buy fake followers on my Twitter.

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“But on the blockchain, it’s different because it has an indelible record and on top of that the blockchain enables people to make the points that they are validating people with and enables those people by validating somebody to actually give them points and points equals prizes. “Those points do ultimately have a financial value so you can give someone a penny, or a tenth of a penny or a hundredth of a penny but a robot view is not going to do that. “So that is a real thing that validates that interaction and it actually pays the platform and pays the content provider.”

GETTY On-line PLC's share price rocketed after adding Blockchain to its name

Using the example a news article the On-line Blockchain CEO explains users could like a comment and if that comment becomes popular enough the commenter could earn money from their input. The platform can have a revenue stream and the commenter can have a revenue stream all from interacting and using Plus One Coin. Mr Chambers reveals that although the revolutionary idea does not appeal to corporate investors it has won the backing from their existing client base. He said: “It feels to us like a very strong offering. Of course, when you go out into the world with something as exciting as that most corporates will just say ‘oh no, too scary, I might get fired’.