https://cointelegraph.com/news/bloomberg-facebook-is-developing-a-cryptocurrency-for-transfers-in-whatsapp
Is Facebook serious? This is what the Facebook blockchain team came up with? Being able to transfer crypto in Whatsapp with a focus on targeting global remittances? Wow, and I thought I might need to be worried about competition with Steem... something that has once again been proven laughable. Seriously the person who pitched this idea simply watched a few Andreas Antonopoulos videos. He brings up this topic quite often.
All this good news just keeps piling up. This is the best thing I could have hoped for. Not only is Facebook not doing anything interesting or innovative, they are actually going to put Western Union out of business. Western Union charges the poorest people in the country 15% just to send money back to needy families. They are absolute parasites. Facebook stands to undercut this number quite a bit while buying themselves a lot of publicity.
Not only that, the adoption of crypto by Facebook will immediately counteract all the FUD. How many people out there still think Bitcoin is for drug dealers, hackers, pedophiles, and other criminals? That narrative is 100 times harder to push when anyone can transfer crypto on one of the biggest social media sites. This is so much win I can hardly contain myself.
These mega-corporations are getting tricked into building the infrastructure that will eventually make them become obsolete. Oh the irony! Facebook is bolstering a network that's going to make it trivial to send money anywhere in the world anonymously for zero fees. This Whatsapp money grab will be a short lived transition to mainstream crypto adoption.
The same idea is true when considering regulation. Oh, that's cute. Does regulation make you feel safe and in control? Go nuts! Build up all the walls. Corner all the markets. Patent everything... and then watch it all come tumbling down because you built it all on an open network where no one needs your permission to do anything.
They are building a castle with a moat and expect that to defend against a laser being shot from space. These dinosaurs are digging their own graves thinking they'll somehow avoid falling in. Dream on, lemmings.
Return from Facebook Crypto: More Boring Than You Could Possibly Imagine to edicted's Web3 Blog
