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Video start-up can't outspend YouTube, so it created new currency

The first place the new economy will exist is within Rize, a new live-streaming app that YouNow is releasing in January

Chief Executive Officer of YouNow Adi Sideman is offering Props for free to other developers willing to distribute the currency to the services of their own user
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Chief Executive Officer of YouNow Adi Sideman is offering Props for free to other developers willing to distribute the currency to the services of their own user

Joshua Brustein | Bloomberg
Adi Sideman, the chief executive officer of the live-streaming start-up YouNow, spends his days hawking a new form of digital currency. The tokens are called Props — as in what you’re giving when you offer someone a fist-bump — and Sideman wants people who stream video online to accept them as a form of payment. Creating an economy based on Props is the centrepiece of Sideman’s plan to loosen YouTube’s hold on the internet. It’s a hopelessly audacious idea by any standard—except perhaps by the standards of those who trade in digital currencies, where YouNow’s long-shot makes perfect sense.

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