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
Property Loans for Foreigners in Singapore That You Must Know About
Intending to invest in a residential or commercial property in Singapore?
When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.
In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.
HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE?
As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.
In this sense, Singapore has the Loan to Value Ratio (LTV).
The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:
CoinField Launches Sologenic Initial Exchange Offering
CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform. Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.
Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play. The desktop version is available for Windows and Mac.
“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited…
Many of the Top Sports Betting Websites for 2020 Can Be Found On Boomtown’s Best Betting Page
Sports betting is one of the widely known types of online gambling. With a large number of sports fans around the world, this type of gambling is one of the most sought after. The problem usually comes from when gamblers try to find the best sites out of the many available ones. Many new sports betting sites come up daily, thus making the selection process even harder. One of the best places to find top betting websites for sports is Boomtown Bingo. This platform doesn’t just give users the best online casino games websites, but they also cover sports betting. As such, boomtown bingo remains a one-stop-shop for everyone who needs the best and the latest online gambling and gaming sites for all types of devices.
The performance of any website is critical. Users need to find their way around the site easily, and that can be made possible with the site structure and arrangement. Loading time is also essential. A website that always hangs thus pushing the user to refresh every time is no good. These are some of the factors that Boomtown Bingo looks into when selecting the best sites for its users. You can be sure that the new sports betting websites listed on Boomtown’s platform have faster loading time, can be used easily by everyone,…