$19 BILLION! The REAL reason Facebook is creating a cryptocurrency! | Cryptocurrency News | Chepicap

hello and welcome to trip you today I'm will and I'll be going through some of the most talked about topics in crypto if you want to be kept up to date with the discussion remember to give us a like and to subscribe so as you're possibly aware Facebook not sure if you've heard of it it's the social media that's technically free all they ask for is your data to sell to advertisers seems like a fair deal anyway they're developing a cryptocurrency it's probably called face coin or Facebook coin all those up box is still my personal favorite while the intention of the script don't see is yet to be officially confirmed there are still some fairly solid sources that point to it being used as effectively a stable coin pegged to a basket of various global currency its Facebook coin will effectively work as a payment solution integrated into Facebook's various messaging platforms including whatsapp Instagram messages and of course Facebook Messenger there are currently 50 engineers working on this project and it's apparently being headed by PayPal's former president David Marcus who actually quit the coin base board in order to avoid a conflict of interests interestingly reports also claim that Facebook has been looking into a potential listing on various different exchanges meaning that this is something they would actually go on the mark here for use outside of Facebook's ecosystem so yeah it's fair to say this is ramping up to be something pretty big so why the sudden leap into the crypto industry pouring an abundance of resources into a single venture could it be that the front-runner social media conglomerate is simply seeing the benefits of cryptocurrency and it's decentralized ideas or is it greed my bets on the latter and so is Ross Sandler's an Internet analyst at Barclays Bank who believes that this venture could yield billions for Zuckerberg Annie's media empire Sanders recently spoke to CNBC about the imminent Facebook coin forecasting that the venture could generate 19 billion dollars and that's not over the course of a lifetime either according to Sanders that's achievable within the next two years that's because in the view of a potential or existing Facebook shareholder any attempt to create a revenue stream outside the traditional advertising model which has already garnered billions for Facebook along with an equal measure of bad press is likely to hold much appeal on top of this revenue wouldn't be generated on the back of user data and privacy abuse for once now this isn't purely built on sentiment Sandler built his assumption on the success of Google Play something that generates $6 in net revenue per user supposing the Facebook script a venture yields a similar per user gain across its three billion active users annual revenue for the firm could be bolstered by as much 19 billion furthermore Sadler suggests that this venture would revive Facebook from his past scandals placing it back in the good books of investors and reinvigorating its business strategy garnering a new and more broad support from larger companies so Facebook the archetypical centralized spying corporation the most within the cryptocurrency community have been wanting to edge away from is now entering cryptocurrency understandably not everyone is happy the second was similar attempts from large corporations to profit from social movements anyone remember that massively out of touch Pepsi ad with kendall Jenner the one where she single-handedly stopped the potential riot with a kind of Pepsi in reality mr. Jenner would have probably taken the police back to the skull here but I digress the point is it's nothing new for massive corporations to cash in on social movements know the very core that's what bitcoin is created to achieve a departure from the control of centralized parties however it seems to be a being ever further away from this as we see these massive centralized entities such as Facebook and JPMorgan trading their own iteration and gaining what almost likely be instant adoption however while Facebook doesn't lend itself well to the idea of a decentralized utopia it can't be dismissed it's potentially one of the most important catalyst from mass adoption that will ever have fundamentals and ideals aside this venture could involve a lot of potential upside for the crypto industry one person who firmly believes this is Jeremy Gardner founder of the prediction platform augur who predicts that if Facebook actually gets listed and made available to the 3 billion users on the platform we could see a massive acceleration from within the crypto industry when challenged on the aforementioned worries of crypto centralization garner retorted that Facebook would actually expose a large amount of users to true cryptocurrencies and he's right this could go majorly in favor of cryptocurrencies with actual benefits with Facebook coin what we essentially have is a glorified stable coin offering little more than another payment method all from a company with a very shady past but it shouldn't be underestimated this company has more than 3 billion active users and a budget to proliferate this venture far and wide and in turn this will likely switch people on to the myriad of benefits from other more entrenched cryptocurrencies Facebook's venture may be a soulless cash grab but it's our best bet for mass adoption right now but as always we want to hear your take on the topics discussed what do you think about Facebook's dive into crypto is this what we need or will it destroy the industry as we know it so leave a comment leave a like subscribe and we will see you next

5 thoughts on “$19 BILLION! The REAL reason Facebook is creating a cryptocurrency! | Cryptocurrency News | Chepicap”

  1. The real reason is that facebook has been copying kik and once kik moves into crypto to create kincoin on stellar lumen facebook decided to do same on stellar lumen. Now kincoin is now using it own blockchain let wait and see if facebook will also create it own blockchain

  2. Nice balanced coverage of the topic. We all love to hate Facebook but this could end up being the biggest thing to happen to Crypto thus far.

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