ZapChain Announces Partnership With Coinbase

ZapChain recently announced its partnership with San Francisco based bitcoin wallet Coinbase that will enable easy bitcoin access to people in their local currency.

"Bitcoin has the potential to turn online communities into online economies with micro-transactions that are real time and global (bitcoin's sweet spot). Apps like ZapChain that are uniquely enabled by bitcoin have the potential to change the way people work together and make a living," said Brian Armstrong, Coinbase CEO.

ZapChain describes itself as a collection of communities where one can earn bitcoin for posting great content and joining discussions – people in communities are incentivized to do so via rewards for tiny amounts of money (also known as microtransactions or tips).

The company has raised $350,000 in seed venture capital till date from Tim Draper, Adam Draper and the Boost Bitcoin Fund. 

“I invested in ZapChain because the company is giving bitcoin one of its highest and best uses. I am excited about how the blockchain can easily make micropayments to journalists and other media producers without bank friction,” said Tim Draper.

The press release said that the partnership with Coinbase coincides with ZapChain’s release of its community platform. The company already hosts established bitcoin and virtual reality communities and is now opening up its platform for community managers and content creators to thrive.