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Zuckerberg focuses on Crypto; says, “will bring power back into People’s hands”

Jan 06, 2018 Posted /  2901 Views

Zuckerberg focuses on Crypto; says, “will bring power back into People’s hands”

The co-founder and CEO of Facebook, Mark Zuckerberg has just announced that Facebook intends to find out how cryptocurrencies can be integrated into its platform. The role of Facebook in our lives has dramatically increased as people move into smartphone era. However, its usage differs from person to person, as some users utilize it to know the activities of friends and family, while others are regular contributors, sharing their day to day with anyone who is interested. Major businesses and media outlets employ Facebook as a direct route to customers and clients.

However, with the coming up of diverse technologies, it is frequently being debated that what will be the social giant’s future. Undoubtedly, the monthly active user metric has surged brilliantly, however, the platform’s seeming incapability to transform in line with the request of its users and with technological and social trends has led many to ask the question: is Facebook dying a slow death?

The Era is Changing

If the hottest news from camp Zuckerberg is to be whispered amongst the audience and how soon, the answer is ‘not yet’. In the beginning of the year, a post from Mark Zuckerberg, the Facebook founder and CEO proposed that the company is finally moving in line with technical tendencies and amusingly, what seems to have strained the company’s hand is cryptocurrency.

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Zuckerberg has written a post that there are considerable counter-tendencies to this, like encryption and cryptocurrency, which empowers from centralized systems and put it back into people’s hands. He wrote that he is concerned to go deeper and study the pros and cons of these technologies, and how to utilize them to best in relation to their services.

The chief element in this news for many in the blockchain space is the final phrase, where Zuckerberg have somewhat advocated that he will be implementing some sort of cryptocurrency technology into the Facebook platform.

The Ultimate Question

There is no doubt that Facebook could without any difficulty set up its own cryptocurrency and incorporate it with the Facebook platform, (as is clear from the example of the similar mechanism employed at Steemit). On the other hand, however, the company could also utilize one of the existing coins and secure itself from the hassle of having to design, developing and administrating its own assimilation.

Also, there is another option that would be available, in particular, if Facebook is not interested in adopting an accessible cryptocurrency near term and use it as some sort of viaduct or Beta test type coin, with a vision to developing its own proprietary crypto-technology if this experiment gives a satisfactory result.

Whichever way it is quite evident that Zuckerberg and Facebook are not just shifting their interests to decentralization and blockchain technology but that they are stressing it to the populace that it will include their major focus of 2018 and also an enormous validation of a bright future

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Tags: Mark Zuckerberg cryptocurrency

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