Facebook coin? Is that a loyalty program or a cryptocurrency? And how do we use it?
The past months, we’ve heard rumors about Facebook exploring blockchain. With the acquirement of Chainspace and the vacancies for blockchain developers, we can safely assume that the social media giant is up to something in the cryptocurrency industry.
Facebook coin is coming
Within Facebook Inc, the blockchain initiative is called: Project Libra.
To begin with, the expectation is that at least one stablecoin is used on the new platform
The stablecoins developed by Facebook are linked to various fiat currencies from all over the world. Think of the euro, dollar and rupee, which will result in the Facebook coin.
Evidently the Wall street Journal reported the following on the topic:
- Facebook plans to release its own payment platform using Facebook coin.
- The social media pioneer aims to raise $1 billion in funding.
- They plan to use a stablecoin to lower transaction cost.
- Chances are their coin will be incorporated in the advertise engine to lower the barrier to purchase advertisements.
Mass adoption of cryptocurrency
At Airdrop Alert we always believed that mass adoption of crypto is around the corner. With companies like Airbnb, Samsung and now Facebook implementing and developing blockchain related products and coins, we believe we slowly approaching the tipping point of mass adoption.
According to Zephoria, over 2.38 billion people use Facebook on a monthly basis. That means approximately 30% of humans use the social media every few weeks.
Facebook Coin airdrop?
Image that every active user on the platform receives a Facebook coin airdrop. That means 30% of all people will receive a free crypto coin. Many of them for the first time.
Does 30% mean mass adoption of crypto? It sure does to me.
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With this kind of exposure, there is a certain responsibility. Facebook will need to educate people how blockchain works. How they can store their coins safely in hardware wallets. Plus, they need to teach people to never share their private keys and other safety measures.
Surely we can trust this multi billion dollar corporation with that responsibility.
We’ll be waiting for our first Facebook coin Airdrop.
In the meanwhile, join our newsletter for regular updates on airdrops, bounties and crypto news.
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