Facebook and Chainspace are all over the news. What could possibly become of this union? Is there a Facebook coin on the near horizon? How will this impact the crypto future?
Lots of questions and as you can imagine there are pundits on both sides of the fence. But let me ask you, would in you invest in a cryptocurrency from Facebook? Well, that is not really a fair question. At this point, we have no idea how it will be structured. Would a Facebook coin be centralized, decentralized or a hybrid?
Facebook has a huge influence throughout the world. And so does Google and a few others. Google coin? It is not inconceivable that a coin from a major corporation could become the largest cryptocurrency in the world. And, what about decentralized applications. So much to think about.
Like many others, I'm curious if a Facebook, or any large corporation for that matter, will opensource their codebase. While there are valid rationals for open and private, think XRP. Large corporations profit models are not currently built on opensource decentralized processes.
Corporate success will undoubtedly be predicated on the perceived value by the masses. In particular, if people see how to make money or see an intrinsic value, corporate coins may catch on. It truly is a wild west show where almost anything goes. So it is best to be prepared to do your own research on each offering.
Final thought. Facebook, Google, and others have consumer bases that can turn hundreds of thousands of new converts to crypto literally overnight. While there is the trickle-down effect that may benefit the crypto space in general, what will this brave new world look like? We can only wait and see. What do you think?