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Facebook understands that it's the network effect that gives them their monopoly, not the centralization. Their users cant just take their coins and go play els
by zerostar07 8y ago
Facebook understands that it's the network effect that gives them their monopoly, not the centralization. Their users cant just take their coins and go play elsewhere because their friends are not there. They already offer their platform that gives you access to all their friend network , yet nobody managed to steal facebook's users.
A currency would make sense for facebook and their messenger (KIK messenger is experimenting with blockchain too, and now Telegram as well) , but it could also lead to more serious applications, for example verified digital ID or signing documents. At some point they may retire the facebook platform and move its functionality into the blockchain (that way they can't be accused when other companies stealing user's data). They might also use it as a way to reward users for videos / posts.
They ll probably have to acquire an existing blockchain company for that . I guess they need a blockchain with high transaction speed, like stellar or nano
There is a lot of potential here and Facebook is not averse to taking risks. Bringing blockchain to the masses will definitely help improve its image among developers / techies.