Facebook took away a ban on posting information about the blockchain and cryptocurrencies of an “educational nature” (industry news). Together with the plans to launch its own stablecoin, this indicates a serious long-term interest of Mark Zuckerberg to the cryptoindustry.
Fate change? Or a change in course?
Info about the development of Facebook’s own cryptocurrency have appeared repeatedly. It looks believable, especially against the background of reports by Pavel Durov about the progress in his TON developing and impending launch of Gram. Mark Zuckerberg always knew how to identify trends correctly and invest in profitable projects in time. And to correct his mistakes in time too. Initially, it seemed that Zuckerberg was simply trying to save a dying WhatsApp messenger, his acquisition, on a crypto hype. WhatsApp began to lose audience fast against the growing popularity of Telegram and especially – of Chinese WeChat.
Zuckerberg correctly identified the secret of WeChat’s success – it is not only the patriotism of the majority of users, the Chinese. But the possibility of making payments directly from the messenger using WeChat Pay. The service interacts with both Chinese banks and Visa and MasterCard. The increase in the number of users WeChat (millions):
Data: statista.com.
But catching up is a thankless job. Therefore, instead of standard payments using a bank card, Facebook can offer progressive payment with crypto. And thus get ahead of the competitor. Earlier this year, Mark Zuckerberg shared his plans to merge all three services – Facebook, WhatsApp and Instagram. The work is not without problems – in the middle of March there was the biggest failure for the whole history of Facebook. But this confirmed that the work is underway. Estimated Facebook along with Instagram and WhatsApp is 2.5 billion users. It was reported that WhatsApp has up to 1.6 billion users, Instagram has an audience of 1 billion.
Rating of popular social networks, millions.
Well, if crypto – so the best!
Recently a message appeared that Facebook attracted to the development of its cryptocurrency professors from the Massachusetts Institute of Technology (MIT), the founder of the MIT Cryptoeconomics Lab Christian Catalini. Among other things, Catalini is known as the initiator of a long-term experiment on the adaptation of crypto, which was conducted on the MIT campus since 2014. According to the results, Catalini drew several practical conclusions about how businesses can better expand the use of their products and in particular cryptocurrencies. Obviously, Catalini will try to make Facebook cryptocurrency as popular as possible in a short time.
It is already known that Zuckerberg held talks with several exchanges on listing. It was also reported that the introduction of this coin is expected to begin in India. Facebook as the largest social network has several segments around the world, so it is technically possible to launch a coin in India for WhatsApp users to make money transfers and payments. Why India? See diagram.
The number of users FB by country.
Another step towards the launch of cryptocurrency was the acquisition by Zuckerberg a trademark from Libra – probably, that is how he would call his coin. The original trademark owner has already changed its name to Lukka. There is ample evidence that Facebook creates a complete payment system on its own blockchain. This is confirmed by negotiations with Visa and Mastercard. How does all this affect the crypto industry? That’s right – very positive.
