Can Facebook Coin Really Beat The Bitcoin?

So finally Mark Zuckerberg decided to create its own cryptocurrency and exploring many different applications. According to the undisclosed sources, the company doesn’t have any plans to launch an initial coin offering (ICO), while the network will likely need to make acquisitions to develop its own virtual currency.

Facebook administrative and management team recently had many changes and last week Facebook appointed David Marcus, who was Vice President in charge of Messaging Products, as the leader of a new blockchain unit.

I’m setting up a small group to explore how to best leverage blockchain across Facebook, starting from scratch David Marcus Head of Blockchain Unit Facebook

Recently an article published on blockpublisher.com was Centralized Governments Can Destroy Bitcoin In Three Possible Ways. According to the article, TechnologyReview speculated that should Facebook decide to have its own cryptocurrency they wouldn’t even have to make a new coin: they could just fork Bitcoin into a corporate version – or take it over completely. After having 2.2 billion users hooked onto Bitcoin through their own platform, seizing it and making it centralized would only be a step away.

Muhmmad Furqan

Furqan is a financial markets expert. A regular trader of cryptocurrencies and hold some investments in Bitcoin, Stellar, IOTA and OST. Contributes with latest industry insights. Contact the editor at editor.opinions@blockpublisher.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.