Could ‘cryptocurrency’ be the future?


Saudi Gazette

indaHash, a popular influencer marketing platform plans to debut ICO (initial coin offering) in a bid to revolutionize the influencer industry with pre-distribution beginning on November 8. The indaHash Coin is designed to be a universal cryptocurrency payment structure that will be available to social media influencers, their audiences and brands.

The global technology platform reportedly connects more than 300,000 digital influencers with a combined reach of 1 billion followers to brands around the world. By enabling this ecosystem indaHash seeks to enable influencers to create their own cryptocurrencies, which would value the activity of their audience with which they seek to solve a wide range of issues and challenges between influencers, brands and audiences, while allowing their network of global influencers to play a part in the rapidly growing cryptocurrency market.

We caught up with the CEO and co-founder of indaHash, Barbara Soltysinska, to find out how she plans to use the indaHash Coin as a world-standard currency.

SG: Can you tell us about the concept and how relevant it is the influencer industry?

BS: The ICO and launch of indaHash Coin gives 300,000 plus global influencers on our platform access to their own cryptocurrency to grow their audiences, receive trendsetters discounts and facilitate international payments instantly rather than having to wait 30-60 days depending on where they are in the world. Brands and influencers will still be able to pay or be paid in fiat currencies but those who opt to participate in the new currency will receive enhanced benefits. In particular it gives influencers the ability to “pay with fame”, tokenizing their IDH Coin to trade with brands for exclusive access to products or services or limited edition goods. They can also use tokens to incentivize their followers for engagement, sharing or other activity. It offers brands, influencers and their audiences and new way to engage, interact and incentivize each other. The market value of influencer marketing industry is expected to reach $5-10billion by 2020. indaHash Coin can become the primary means of payments for influencers globally.

SG: What’s the future for indaHash and how does it impact the region economically?

BS: We launched in MENA region at the end of 2016 and have already booked campaigns with a number of major brands, including our biggest MENA campaign for a tourism board, which ran across 10 countries simultaneously. Since launching indaHash in January we are now 130 people strong across seven global offices and offer 300,000 and more influencers across 70 markets the chance to earn money on their passions. We will have opened 20 new markets in 2018 by the end of the year.

We see the MENA region as key to our success with brands and agencies who recognize the power of influencer marketing, a strong network of influencers creating and sharing great content that grabs attention and drives action and high mobile and social adoption and interaction among consumers. Among consumers in the region, social media activity and consumption is very high and influencers enjoy high levels of trust. This means brands are keen to use influencers to reach and engage audiences.

SG: When does it come into effect and tell us about the primary targets that will be impacted first?

BS: The initial pre-ICO period begins 8th November and lasts for a week. During this initial period participants will enjoy a 40% bonus for one week. The cryptocurrency market is currently dominated by a small percentage of early adopters, which is why our vision is an education and awareness program for influencers. We are reserving up to 18% of the IDH Coin specifically for influencer education and engagement and know that if we are able to activate just a small portion of our influencers we have the opportunity to really drive the growth and development of the cryptocurrency industry.