Banking isn’t exactly what Mark Zuckerberg is known for, but with every advance of his, the global economy seems to shake up a bit.
One such decision taken by Facebook was to ban all advertisements related to Initial Coin Offerings and Bitcoins. This was a controversial decision but also an appreciated one because many users of Facebook are still not very well acquainted with the idea of cryptocurrencies.
What Was the Reason Behind the Ban?
Google and Facebook hold the most major portion of online advertising, and a decision made by one makes the other interdependent. Facebook stated that by banning all such advertisements, it is protecting its people form falsely investing in currencies which can lead to them losing money. So, by that logic Facebook, is rendering a service to all those people not interested in cryptocurrency because now more individuals will be hesitant from investing in it.
However, crypto conferences all over the country suggest otherwise. They say that Facebook has been actively investing in blockchain technology (the technology which drives cryptocurrency). With a ban imposed on its promotion and investment staying unharmed, one possible link which can be established is that Facebook is planning on adopting the technology and establishing a cryptocurrency of its own.
By doing so, the entire unwanted truth about cryptocurrencies today being unregulated will be dealt with because Facebook is the number 1 social media site in the world.
Where Does That Place Mark Zuckerberg?
The very fact that Facebook’s decision to take such decisions in the world of cryptocurrency led to statistical analysts believing that the structure of digital currencies can change entirely means that Facebook has close to absolute authority over much of the world’s money. And as the owner, that makes Zuckerberg the most influential banker in the market, because every step that he takes gets the experts buzzing.
Can “Facebook Tokens” Succeed?
In the likely event that Facebook decides on an ICO of its own, the chances that they will succeed, perhaps even overnight, are quite high. Online transactions are becoming common day by day, and Facebook’s 2 billion users will be very interested in contributing to a startup with such strong potential.
On the contrary, the negative light which Facebook has to face today by world government’s regarding its information security and censorship ability can lead to this being just another unwanted ICO. Regardless of the results, it’s important to watch out for Zuckerberg’s next announcement.