Facebook Becomes the Superhero of Blockchain: Libra, Zuckerberg, and Cryptocurrencies in the Blockchain Worldwide Ledger
Finance & Economy
Mark Zuckerberg, CEO of Facebook was queried in the court and this brought out more questions than solutions. One of the most discussed of them was why Facebook and its CEO should think about creating a cryptocoin with its wallet instead of caring for thousands of other problems in this social platform. For us the answer is logical and Zuckerberg’s all life proves it. He simply took a step forward again and understanding the power of creating the sole coin for his platform will make the demand for it always corresponding to supply. Therefore, the changes in price or volatility are the least problem to think of.
Why Did Zuckerberg Decide to Use His Own Cryptocurrency?
Facebook as a platform will not be dependent on any legal or governmental entity as there hasn’t yet been a settled AML to control the flow of cryptocurrencies. But this is not a great advantage for Facebook but rather for the world as with Facebook integrating into the Blockchain system the governments should create a toast AML controlling everything one by one. Therefore, this comes to solve the problem of AML.
Cryptocurrencies Getting out of Black Market to Light
Facebook will surely know where the money goes to. Facebook will know who pays, how much and for what. Ultimately, they will provide jobs and opportunities for anyone to exchange the USD to Libra and later on use Libra for out of Facebook services online. If Libra partners include the huge enterprises, the backers for the crypto and non-crypto, whether they want it or not are going to follow it. So, firstly using Libra is easy and on the other hand, no transaction fee will reach the tops we have in case of fiat.
To keep it simple, you have transactions that are concluded with fewer commissions, you have the platform where all your deals are regulated by a special Libra-Calibra team, and you have the coin that is always stable because billions of users at Facebook are not going to vanish in a day.
Following the platform or a page is a different thing, but we are addicted to the platform. Whether we want it or not, Libra can be not a problem but a real solution for all interested parties. With the coming regulated cryptocoin the blockchain system will also be adopted with highly skilled institutions that will implement more genius in the project. With the Libra coming in, the commission fees for FX platforms will get lower and will come to a stabilization. With Libra coming in the economies of any country will not be dependent on the national currencies and will finally break the disorder as Libra should bring the balance. Some countries already know that adopting crypto as it is now, of course, will not benefit the nation and the regulation of country and financial sector, in particular. Instead, these countries know that using the ledger, developing it better, giving it more power, regulating it and keeping to a balance what will create a real FUTURE.
Concluding the Intervention of Big Corporations and Governments into Money vs. Crypto Dispute
Denying the development is the worst thing, keeping the biggest corporations away from creating tools for the public is distractive. Keep it fast, look a step further and you will create the groundbreaking Facebook and the smart contracts, the involatile cryptocoin that will be traded not in the black market but in the light to ignite the financial sector.
If you want to learn more, visit BIDITEX page and ask your questions, follow us on Twitter, Facebook, Medium, Telegram, LinkedIn. Bid your space with BIDITEX.
Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance.
Facebook Becomes the Superhero of Blockchain was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.