How Could Facebook be the World’s Biggest Cryptocurrency Power With One Shift Swift?
Facebook may become an important player in the cryptocurrency market. The company has an important potential in the blockchain and crypto world.
We reported a few days ago that Facebook was discussing distributed ledger technology with Stellar (XLM) in order to create new blockchain and crypto related products. But Facebook denied the potential partnership with Stellar and that there is no intention to be part of this space. However, reading between the lines just because there is no formal partnership does not mean there was no level of engagement or even consulting as the denial did not flat out state that from what we could uncover in our research.
It is important to mention that Facebook has created a blockchain team that wants to explore different use cases for distributed ledger technology. The team leader is David Marcus, who worked in the past with the Messenger messaging app.
As CNBC explains, the company could be interested in acquiring Coinbase, one of the most important platforms in the crypto world. No Facebook spokesperson commented on the matter.
But we do know that Mr. Marcus left the Coinbase board. And we know that it was in order ‘to avoid the appearance of conflict, rather than because of an actual conflict.”
Few reason why Marcus had to step down from Coinbase board;
1. FB launching an exchange.
2. FB launching a Crypro micro payment platform.
3. FB buying Coinbase?
4. FB launching a Crypto wallet?
— Ran NeuNer (@cryptomanran) August 10, 2018
Later, Ran NeuNer, an important crypto trader explained that there are just a few reasons why Marcus step down from the Coinbase board. He mentioned the following:
- Facebook may launch a cryptocurrency exchange
- Facebook may launch a cryptocurrency micro payment platform
- Facebook may buy Coinbase
- Facebook launches a cryptocurrency wallet
One comment had this nice insight to add:
“Facebook wants to integrate BTC into messenger to try and give some life back to the dead in-messenger payment model. They will allow you to buy BTC in messenger as well, similar to square.” Nice #valueadded from AviFelman. CNBC's Crypto Trader also added:
With some development, FB could easily create a crypto wallet that would work across FB and https://t.co/nOb4XeGtyV modification and immediately it would become the world’s biggest financial and trade market place 2,5bn users in 1st and 3rd world.That’s why Marcus resigned.
— Ran NeuNer (@cryptomanran) August 11, 2018
Another possibility that Ran NeuNer commented is related to the creation of a crypto wallet that would work with Facebook and WhatsApp. If that happens,it would become the world’s biggest financial and trade market place for 2.5 billion users and different countries all over the world.
The company is currently hiring a public policy manager for blockchain. Additionally, it is searching for a software engineering manager for the blockchain team.
If Facebook does decide to enter the blockchain and crypto market it could be a very important decision that could potentially change the lives of billions of individuals around the world. Until now, we just need to wait and see what the giant company will do and how other players will react.