The Facebook Coin – The Next Evolution of Cryptocurrency & Blockchain
Sam Goldfarb – Digital Marketing Expert & Blockchain Entrepreneur
This interesting session was led by Sam Goldfarb, a Digital Marketing Expert & Blockchain Entrepreneur.
Facebook has been a big player on the internet since 2004. It has had to deal with tremendous growth within itself. In fact, Facebook now has 2.5 billion users per month! In addition, it has also had to deal with a lot of growth within the internet world. One of the biggest changes that Facebook is dealing with is the immergence of crypto currencies and blockchains. How has Facebook decided to deal with this?
Quite simply, Facebook has decided to jump right into the deep end of the crypto currency space and create their own Facebook Coin! Apparently, this is something Mark Zuckerberg has really wanted to do for a while. In fact, this development has long been anticipated. As early as 2014, Facebook was already venturing into the financial services with their hire of PayPal president David Marcus.
Now that Facebook is going to build their own blockchain coin, everything is coming back again. This is especially true for other big internet companies such as Google. The next wave of crypto currency is coming, and everyone needs to be aware of that.
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However, just because Facebook is making their own crypto currency coin, the real question is what can users do with it? In fact, you can do pretty much everything you would do with any other crypto currency or real money. You can trade it, you can pay with it, and you can get paid for your engagement on the Facebook platform.
The big problem is that block chain originally was for decentralized usage. Now Facebook is centralizing this coin on their platform. Time will only tell what this will truly do. Especially since, Facebook Coins are still a ways off. In fact, while they are beginning trials this year, they do not expect it to be formally launched until 2020.