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RE: While Mark Zuckerberg Is Studying Cryptocurrencies, Facebook Changed Its Algorithm For "More Meaningful Interactions"
I keep hearing the rumor that Facebook will be supporting Litecoin as a payment channel. I can't see how this would benefit Facebook at all, so I am pretty skeptical that this is the case..
But I am holding some Litecoin ;)
Interesting rumor, never heard of it. It will make a lot more sense to have their own token, though.
I'm not sure Facebook creating their own token is necessary or smart. Seems like it would be a hindrance in many ways, potentially ruining in others. Just my thoughts - Facebook is a massive platform. Building another platform of crypto on top of that seems overly complex, but you've given me something else to think about
From a technical point of view, Facebook building a token will be trivial. There's more tech and AI in their messenger bot platform, than in a simple, centralized token, so throwing in a "coin" is really, really simple for them.
The only question stopping them to do it is: "how much more money a token will bring us, than we're bringing in now, with our current business model?"
I'm referencing issues regarding regulation - Facebook has already been approved (along with Google, if I remember correctly) to operate within the technical framework of a bank in the UK, I believe. Also M (the AI layer inside of Messenger is/has been canceled for the meantime).
They don't need to launch a token to get a cut of tokenized transactions, they already have the infrastructure to add the layer but perhaps would be savvy to shy away from the politics of initiating their own.
I think their best bet would be to accept all the other major coins for payment - amazon too - they would have massive explosions in people using their crypto if the could do it.
I don't know why they'd choose Litecoin and I don't think it's something more than a romour... But if It happened I'll be happy... I already see a future for Litecoin as a currency... That's something I think less and less for Bitcoin these days.