Facebook has been the face of mostly the world for quite some time now, and we know that after it was introduced to the mankind, there was no looking back. Mark Zuckerberg, the founder and the CEO of the social networking website is also a user of the same. He is a frequent user who likes to interact and post different materials on his Facebook wall or timeline.
Facebook has been a great space for people to put up stories, pictures, quotes, and content of their knowledge or liking from the time it came up, no one was restricted to share these contents over the web. Now, Mark Zuckerberg being a similar citizen, likes to post about his everyday life, about his work, how he conducts everything in the “Chan-Zuckerberg Initiative” which is a foundation built along with Priscilla Chan, his wife. He also shares the content or changes he will be making to the timeline or how Facebook would change after a new update is introduced.
In a current post, he shared a topic that the world is talking about right now, i.e., Cryptocurrency. A cryptocurrency is a form of virtual currency that is being used widely all over the world for different causes and has been an issue of talk for quite some time now. Zuckerberg informed his followers that he would try to learn about something fresh every year and this year he took up the challenge of how technology can be used for giving the power in the hands of common people. He also said, “I’m interested in going deeper and studying the positive and negative aspects of these technologies.” He further added, “One of the most interesting questions in technology right now is about centralization vs. decentralization. A lot of us got into technology because we believe it can be a decentralizing force that puts more power in people’s hands.”
In his Facebook Post, Mark Zuckerberg also expressed his grief towards the constant misuse of the technology by the bigger firms or officials for monitoring people. Since the misuse and monitoring have been increasing with each passing day, he has taken up encryption methods and cryptocurrency as the major means for solving the issues. He wants people to be back in power rather than the system having the dominance over people.
Facebook with Crypto Currency
As his recent posts have mentioned, he is looking at this subject at the moment, i.e., the introduction of cryptocurrency over facebook. The idea of linking the both, i.e., Facebook and cryptocurrency is certainly exciting for the crowd around the world.
Yonatan Ben Shimon, the CEO of Match pool,
the company responsible for producing a combination of cryptocurrency with the social network also mentioned that this would have its benefits. He mentioned that with the introduction of cryptocurrency, the users who are producing some content over the media would be rewarded with the same. He advised Mark Zuckerberg to have a word with the professionals before he finalizes anything for sure. He also added, “If they take a step [toward this plan], it can be awesome. But in order to do it right, they have to be with a partner from the crypto space that understands how to build it in a decentralized way.”
A senior analyst from Investing.com, Clement Thibault also expressed his views on this and said that he is not astonished by the fact that Facebook finally realizes the importance of cryptocurrency since other companies like Microsoft, Google, etc. are doing the same. He said, “They have seen the enormous mainstream attention and amounts of money pouring into cryptocurrencies in 2017. Positioning yourself to take advantage of a new tool, new technology, and a potential new business opportunity just makes sense. We know they are interested in facilitating transactions between people, which is what cryptocurrencies like Bitcoin are aiming to do”.
Thibault further added, “How exactly [Facebook] is able to find a place in true decentralized peer-to-peer transactions remains to be seen. The question of whether they do [integrate block chain] depends on how and if they see a viable, profitable business model in doing so.”
He said that addition of cryptocurrency will help many causes and will also encourage the crowd to accept it but Zuckerberg might have some other cause for accepting the same. He further added, “Facebook, with over 2 billion monthly active users, can basically drive the mass adoption of anything. For now, I’m confident Zuckerberg’s message on cryptocurrencies is [in] part legitimate interest in new technology and [partly] just throwing Facebook’s brand in a sentence with cryptocurrencies to show users and investors that Facebook is not behind the curve on innovation.”
In order to make all of this successful Mark Zuckerberg will have to put an immense amount of effort while he researches and finds the answer as to how he can integrate the cryptocurrency into the social media website.
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