Facebook might have its own cryptocurrency soon
Mark Zuckerberg mentioned researching cryptocurrencies in his recent post. My bet is that someone mentioned him about Steemit and how fast it is growing and potentially can disrupt what Facebook is doing.
Also interesting read and point of view here.
In my opinion, Facebook will try to incorporate cryptocurrencies but they still won't get decentralization that is the core of all blockchains.
I see them having some sort of tokens for loyalties or games/apps within Facebook. But it would be great to see them join up with Steem community and create FB SMT on top of Steem.
Do you think SMT (Smart Media Token) is good fit for Facebook?
How do you see them utilize cryptocurrencies?
You can bet all the media will get behind his revolutionary idea and there will be no reference to Steemit . Scumbags
Zuckerberg is on the wrong side in this epic battle of good vs. evil.
I really doubt it, cryptocurrency is a big risk and they already have a very profitable business turning facebook into something like steemit would only make sense if steemit was becoming a huge competitor that was taking away their customers. At this point, it is nowhere near enough popular to even be noticed by facebook.
Interesting enough is your opinion. However, may I offer that, based on your last sentence, the best time to prepare for a flood, is before the flood occurs. I'm no guru, but (and forgive the pun) if Steemit is causing ripples in the water, I'd start my programming now than wait to be inundated by a mass exodus.
It really does change the business model and paid for algorithmic advertising. When we share the knowledge of what's possible, the flood gates will burst.
...And it's already started. :-)
I don't doubt that they have a lot of plans for all kinds of eventualities, but until the crypto space becomes even more mainstream, I doubt facebook could win over the market in this department.
I agree 100% with you on that one.
I struggle to see how this could add value to Facebook. They want to earn the money for the content and data themselves...
If facebook will have its own crypto coin, what will be the name of it. I guess zuckercoin would be fine ;)
Facebucks
A cryptocurrency controlled by a single corporation does not make any sense.
Betting on this type of currency would be a great step forward for all because the great popularity that Facebook already has worldwide would be a great boost for the rest of the world to think about using it.
Nice post! I hope Facebook will also enter the crypto world. It will sure make the crypto industry a more pleasant place to invest with.
But honestly, I don´t quite see FB adding its own currency. I mean if they would do this and there currency would be dumped that could have some troubling consequences for them.
Like Steem with SBD, they would need to back their currency with some service, as without there would not be a need for a currency on Facebook.
But I guess these guys are more experienced in economics then I am, so they will find something clever.
Doubtful the likes of Mark Zuckerberg has any fears of steemit as a competitive model, as they serve very different purposes (publication vs. social media) . Although the fact this post, which in all due respect is nothing more than a copy and paste of his words (no researched, point of opinion, nada) has gained considerable votes and monetary value ($250 to date). Just goes to show our beautiful platform is quickly spirally into nothing more than a re-post venue.