The Social Media giant at the moment just won't really stop maintaining themselves at the top. This time, they are capitalizing a Billion Dollars for this project to get themselves into blockchain and create their own cryptocurrency. Most probably it will be called, "Facebook Coin".
It was originally an idea of just supporting a stable-coin process which would need a collateral to prevent the volatility of the cryptocurrencies. Thus, they have planned to raise $1-Billion Dollars to fund the project.
But I am pretty sure the conference came a long way rather than just helping out a stable-coin which led them to create their own cryptocurrency as an impulsive decision. That is just my own opinion.
We know for a fact that Facebook's main funds came from the ads. Advertisers would pay a certain amount of budget according to targeted audience categories. It would then be possible for facebook to pay users by clicking ads as rewards. This is the main use-case that might be implemented if this happens.
Christian Catalini, A professor of Massachusetts Institure of Technology (MIT) has taken a three-day leave just to analyze the so-called venture to cryptocurrency. He would then lead the development project of FaceBook Coin. Being a one of the prominent researchers of Token Economics and a co-author of an informative report about Initial Coin Offering (ICO) and The Value of Tokens, he was entrusted to lead the development of the program.
Facebook is hoping to succeed where Bitcoin failed
~New York Times, February 2018
At the moment, Facebook and Catalini have not broadcasted any statements and confirmations about the project.
They have already planned this a long time ago so at this point, they are now under the stage of implementation. This will be very soon.
How could this NEWS be beneficial to publish0x authors and readers?
We all know how huge Facebook is, just like Google. If the social media giant already stepped-in the crypto-world then it will opt all users to know what cryptocurrencies are all about. I could imagine my friends' and my relatives' reactions who ignore my FaceBook status/posts about coins (They think I was collecting physical coins) after the launchng.
But the real deal here is that, since a project requires a community or user-base, then all facebook users 2.38 Billion of us will automatically be members.
We would all know what to do if that time comes. Bag a sack of whatever the name of the coin they will call it! (BUY lots of it)
Thank you so much for reading this awareness post so we will not get surprised if anytime soon FaceBook will be offering a coin to all its users.
Follow me for more awareness posts about what's happening in the crypto-blog-o'sphere and thankful for all your support.