The news surrounding Facebook lately has more to do with the invasion of our privacy than decentralization. However, in a significant diversion from the scandal Mark Zuckerberg (Facebook’s creator) now finds himself embroiled in, new revelations have come to light concerning plans by Facebook to leverage blockchain technology.
Zuckerberg himself dropped a big hint about the project, expressing interest recently too,
“…go deeper and study the positive and negative effect of these technologies and how best to use them in our service.”
Though the details are scarce, comments by active team members, including David Marcus (the former leader of Facebook’s Messenger application), have given credibility to a series of internet rumors surfacing over the past week.
Mr. Marcus remarked,
“I’m setting up a small group to explore how to best leverage blockchain across Facebook, starting from scratch”
With the realization of a new team being employed to research the potential uses of cryptocurrency within the platform, we can no longer turn a blind eye to the possibilities, and possible repercussions, of our data forever being stamped onto the blockchain. For now, however, investors have reason to be excited by the potential of Facebook pushing into the payments business.
Facebook, with over 2 Billion users, may just create the first mass-market cryptocurrency. And while the project at this point remains exploratory, some believe the use of blockchain technology may help solve some of the issues surrounding privacy (or the lack thereof) the social media giant is known for.
87 Million users were exploited by what Zuckerberg’s team calls “malicious actors.” Compromising personal data in the largest scandal in recent memory, the real evil actor is likely Zuckerberg himself, who profits significantly on the exploitation and sale of our personal details.
Still, the news will probably be met with a positive response from investors as more and more people become enlightened by the use of blockchain in our daily lives.
Only time will tell if a new cryptocurrency can help protect our data going forward. And with the ‘Drop Facebook’ movement gaining steam, it is no doubt useful for Zuckerberg to use this news as a healthy diversion from the current scandal.
With the daily news cycle focusing away from the recent scandal and grabbing instead onto the hottest topic on the web (cryptocurrency), Facebook may even be able to boost the value of their shares in a time they should be dropping like a stone.
We can’t say for sure how far Facebook will go toward creating a blockchain based payment system. Indeed, before more is revealed, we can only speculate on the team’s intentions. In the meantime, we have the right to remain skeptical about the real intentions behind the world’s largest social media corporation.
While the news gives investors a chance to make serious gains on the valuation of the Facebook stock, users of the platform may be wise to divulge a bit less information than they have become accustomed to until more light is shed on the rumors.
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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.
Chart courtesy of Christopher via Flickr
How Cryptocurrencies Will Change Online Gambling in the Future
Anyone who has followed online gambling since the beginning can tell you that things don’t stay the same for long. One of the reasons for this is that technology improves at such a ridiculously fast pace, and innovators in this industry are able to match up with those technological changes pretty quickly.
An innovation in technology that the Internet gambling industry has really learned from is cryptocurrency, with bitcoin in particular leading the way. We’ve seen it emerge as an alternative banking method, but it’s going to change the industry as a whole in ways that people can’t quite understand yet.
A Post-Legality Era
Something that has eluded online gambling since its inception is the idea of a global governing body. As it stands right now, each individual country (and smaller units of jurisdiction) have their own governing bodies that oversee in the industry. A lot of these laws are tied to banking laws, and that’s where the legality of playing in bitcoin casinos becomes such an interesting topic.
In the present, we’re seeing country-based regulatory bodies from places like Malta, Gibraltar and the United Kingdom start to work together and recognize each other’s licenses more and more. That’s taking serious steps towards having a global governing entity, and once that happens, the role of bitcoin is going to be even larger than it is now because it’ll…
VOLUM (VLM) Announces Commencement of Token Generation Event
ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.
Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.
The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.
“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…
How to Secure Yourself in Relation to Bitcoin: Top VPN Services
Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.
Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.
What is a VPN?
Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.
While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.
Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…
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