Facebook has decided to go back on its decision to ban cryptocurrency-related ads from the platform. The original ban came earlier this year, in January, due to a large amount of fraudulent advertising. Now, the ads will return, but only those belonging to pre-checked firms.
Crypto ads return to Facebook
Back in January 2018, one of the biggest social platforms, Facebook, decided not to allow cryptocurrency-related businesses to post ads. The ban came after the platform noticed that the increase in the value of cryptos has started inspiring a lot more people to join the crypto world. This by itself is not harmful, but the increase in crypto prices also inspired many to start offering fake services and trick the new, unsuspecting investors.
Facebook decided that these deceptive and misleading ads are not tolerable, and has, thus, banned all crypto-related advertising material. Now, the company came to a new solution to the problem, and the ads can finally return, like the platform promised at the time.
As part of their increase in security, those wishing to advertise crypto-related services will have to submit a special kind of application. The application will also have to contain proper licenses, as well as various documents that prove that the firms actually have a legitimate business background. The documentation will then be reviewed and checked by Facebook’s staff, which will then approve or deny the companies from posting ads on the platform.
Facebook is not the only social platform to have done this, and many have recognized the dangers that their users can face due to these fake ads. Only a few months after Facebook introduced its ban, Google did the same. Twitter and Snap decided that they need to improve their ad policies as well.
The decision to allow ads back to the platform will not include all ads, however. According to Facebook’s new policy, ads on ICOs and binary options still won’t be accepted by the platform. Apart from these two, all other aspects of the crypto world will once again be advertised as long as their documentation checks out.
Despite this, Facebook’s team has encouraged users to report all inappropriate ads that they might encounter. This might mean that not all ads will be checked, only the companies that wish to post them. For the time being, Facebook’s team will listen to the customer feedback, and make new decisions accordingly.
Blockchain and cryptos: potential & speculation
The decision to return ads to Facebook is not that surprising, considering that the growing popularity and interest in cryptos will allow the platform to profit from the ad revenue. Not only that, but the company also seems to have developed an interest in the blockchain technology as well. In fact, according to some reports, Facebook has even prepared an entire team led by David Marcus, dedicated to studying blockchain, and proposing ways that it can be used for bettering the platform.
Some reports even claimed that Facebook might develop its own cryptocurrency in the future and that it might be used for microtransactions, such as those involving gaming. No official statements on this have been released, and for now, it all comes down for speculation by the crypto community.
Additional rumors say that Facebook’s interest in cryptos has grown so large that the company might even try to acquire Coinbase. Neither Facebook nor Coinbase commented on this, but the speculators believe that doing something like this would be extremely beneficial to both companies.
Coinbase is currently serving around 10 million customers, but the number of Facebook’s users exceeds 2 billion. This means that any crypto that Facebook might choose to introduce in the future will have an unimaginable reach than any other currency, traditional or crypto. Still, until some major issues have been resolved, mainly the question of centralization vs decentralization, it is not likely that Facebook or any other large social platform might make this step.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Here’s Why This Coin Still Has Wings (WINGS)
WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.
Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.
What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.
The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…
6 Blockchain Predictions For 2019
As 2018 moves closer towards its end, investors, developers, and tech enthusiasts are starting to turn their gaze towards the future. 2019 is less than two months away, and it promises new breakthroughs and large changes. This is especially true when it comes to blockchain technology.
While 2018 was an important year for this technology’s development, many are wondering what awaits us in the near future. Because of this, we have created a list of 6 predictions regarding the blockchain, as well as what might happen to it in 2019. Let’s begin.
1. Search for new and better business use cases
Blockchain technology is wrongly seen by many as a magical way to resolve all issues that we struggle with today. However, while it is true that blockchain can help with a lot of them, there are still numerous other problems that are better suited to be solved by alternative technologies. Robotics, AI, and similar technologies are not to be discarded in blind faith in the blockchain.
Researchers and developers have recognized this, which is why 2019 will be dedicated to finding specific use cases for blockchain technology. Blockchain will be used in situations where it can have the strongest positive impact. In other words, the goal is not to find places where this tech can fit, but to find places where it is the best fit.
2. Fixing blockchain industry’s image
For a lot of people, blockchain…
TRON DEX Goes Crazy, TRX Founder Asks For More Projects
Less than a week ago, TRON (TRX) community uncovered a new DEX (decentralized exchange) on Tronscan.org. Since TRON community is among the strongest and most supportive communities to ever support a coin, trading activity on this DEX quickly skyrocketed.
So much so, in fact, that TRON’s founder, Justin Sun, felt that he should share this fact on his Twitter account.
— Justin Sun (@justinsuntron) November 13, 2018
TRON DEX sees massive growth in activity
Since Sun shares a lot of traits with TRX community, such as tirelessness and fascination with this project, he was quick to urge the community to come up with additional tokens and projects.
While Sun’s statement that the activity on the DEX is “going crazy” is pretty accurate, many do not realize just how accurate this is. It should be pointed out that the number of tokens on the exchange was 3 on November 10th, when the DEX was originally uncovered. Today, on November 13th, the number of available tokens has doubled.
In addition, 4 out of 6 trading pairs offered on the exchange have experienced significant gains, with the remaining two experiencing only slight drops. The growth was experienced by Dice/TRX (146%), TronWatchMarket/TRX (8.27%), WIN/TRX (89%), and SEED/TRX (1.73%). The drop was experienced…
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