Facebook’s Cryptocurrency Will Appear Much Sooner Than Expected
Until recently, little was known about the social media giant’s intention to release Facebook’s Cryptocurrency, but at the end of 2018, information from Bloomberg appeared that the titan wanted to release its cryptocurrency for WhatsApp application. On the other hand, integration of cryptocurrency on Instagram and Messenger seems to be more beneficial in terms of audience reach and influence for the corporation, which provides a potential reach of 2.7 billion users, according to the New York Times.
The New York Times also, referring to anonymous sources, says that many Facebook employees are already buying cryptocoins on cryptocurrency exchanges, trying to launch their own cryptocurrency project in the first half of 2019. So it turned out that Facebook’s Cryptocurrency can appear on much earlier than expected before.
In addition, there were reports in the press about Facebook start to negotiate with various cryptocurrency exchanges in order to get the first customers to purchase their Facebook’s Cryptocurrency. Nothing is known yet about what level of control over the future cryptocurrency the American mega social media company will receive when Facebook’s Cryptocurrency becomes available to the general public.
At the initiative of David Marcus was created a separate team to develop blockchains. Currently, Facebook is recruiting staff for this team, which was created back in May 2018, so vacancies have now appeared in the company and those who wish can participate in the contest of applicants for work in a huge world corporation.
About the Blockchain system, Mark Zuckerberg said this is in many ways a very attractive system that will work. The ability to manage without intermediaries between the company developer and its clients, the ability to log in from different places, the security and reliability of storing information in a decentralized form throughout the system – all those things Facebook CEO named blockchain’s very attractive advantages that is used in creating cryptocurrency when he was talking to a law professor at Harvard University.
Facebook’s Cryptocurrency as an idea could hardly have appeared if Zuckerberg had not seen all these positive aspects in cryptocurrency and the blockchain. According to him, the absence of intermediaries in cooperation with the company’s clients gives a great advantage to the developer in terms of the company’s ability to follow its own policies, without affecting third parties. For Facebook, there will be no need to coordinate the policy of their relations with consumers by selling the products of their development through the Google Play Store or Apple App Store mediation.
On the other hand, despite Zuckerberg’s laudatory speeches about decentralized platforms and technologies, it will be more difficult for companies to profit from the Facebook’s Cryptocurrency release if the company concentrates on decentralizing its project. Perhaps he sees other opportunities that the company’s own cryptocurrency can bring them.