Blockchain is revolutionizing the existing technology with more affordability and convenience. Cryptocurrencies have developed as a medium to use various Blockchain technology based projects as well as medium of investment. Cryptocurrencies as a medium of investment have already surpassed traditional investment options in terms of ROI.
The key point of cryptocurrencies is Decentralization. This gives them the power to operate without any fixed authority and make them available to the rest of the World. Now, various governments are adopting Blockchain technology along with various Tech & Financial Giants. CME & CBOE Futures listing is the proof of worldwide cryptocurrency & Blockchain adoption.
But recently, Mr. Mark Zuckerberg is also looking forward to use the Power of cryptocurrencies as well as Blockchain technology to revolutionize the Social Media. The father of social media platform like Facebook said stated that Cryptocurrencies and Blockchain technology is here for stay as they are more focused on taking the power out of central authorities into the power of individuals.
As per this source, Zuckerberg said this in one of his Facebook post :
There are important counter-trends to this – like encryption and cryptocurrency – that take power from centralized systems and put it back into people's hands...I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services."
Although, there are many social media platforms already based on Blockchain technology but the reach of Facebook is extraordinary and reaches Billions of people. Facebook as we already know, have a centralized system but still it gives audience the power to express their opinions on things they want to.
Zuckerberg want to revolutionize social media platform by implementing Blockchain Technology and might be connecting it with cryptocurrency at some later time.
In near future, we could see Facebook integration with some Blockchain technology or associating with some cryptocurrency. Who knows what Mr. Zuckerberg have in mind. Time will tell.
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If Facebook decides to use Blockchain/cryptocurrencies, I wonder how they would integrate it into their current system. If we're only talking about paying users, that's doable. However, I don't see any other use considering Facebook is VERY centralized. They filter ALOT of political content that they don't agree with. Content-wise, if Facebook doesn't like it, you'll be suspended.
There have been numerous cases of users being suspended for giving their opinions on certain topics. I'm not talking about racism. I'm talking about objective viewpoints on controversial topics.
uckaberg looking into cryptocurrencies, it's going to be a wooooooooowwwww year better than 2017. #moneyinthebank 😁😁😁
2018 is the year of the hustle. It's the year of the grind. It's the year of crypto. I'm so excited for the future.
I used to tell my friends that FB and Instagram would be Greater if they use blockchain technology! Soon or later we will see many people join the train...
how do you think about the price of sbd and steem in early 2018 this?
SBD should be fine because Facebook is VERY centralized and regulated. It's going to take some time for them to get to the level of steemit.
I'm specifically referring to transaction speed (steem is a very FAST blockchain), decentralization (although one could argue that steemit is centralized to a degree, Facebook is VERY centralized), and incentive for usage of said token (we use steemit because of payment incentives provided by SBD and STEEM).
There appears to be a lot of great reading on your Steemit page. I upvoted and followed you today. Thanks for your efforts.
With Zuckaberg looking into cryptocurrencies, it's going to be a wooooooooowwwww year better than 2017. #moneyinthebank 😁😁😁
Oh we're definitely going to see a massive price action with these digital assets across the board.
This will be wonderful.
Kindly upvote
I agree there - I think that Facebook will slowly move towards the blockchain and decentralisation, but that they will only move towards cryptocurrencies after extensively testing the waters. Facebook's reach is huge, so I'm happy that platforms like Steemit have plenty of time to grow larger user bases before it makes the shift!
Stay out of it Zucky ... go back to your Bill Gates / Buffet fraternity