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Forget Bitcoin (BTC), Facebook May be Creating a Brand New Crypto
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
Singapore’s Exchange Traded Fund (ETF) market has grown, offering investors diverse investment opportunities and access to different asset classes. As the market evolves, investors must navigate these uncharted waters with a clear understanding of Singapore’s ETF landscape. This article explores the trends, challenges and strategies for navigating the Singapore ETF market. To start investing in ETFs, you can visit Saxo Capital Markets PTE.
The Singaporean ETF Market: Exponential Growth
The Singapore ETF market has seen significant growth in recent years, with an increasing number of ETFs covering a wide range of asset classes and holders. different investment topics.
One of the notable trends in the Singapore ETF market is the growing diversity of available options. Investors can now choose from ETFs that track domestic and international stock indexes, bonds, commodities, and specialist sectors or themes. This diverse range of ETFs allows investors to create comprehensive portfolios tailored to their investment goals.
The growth of the ETF market in Singapore is also due to growing investor demand for low-cost, transparent, and accessible investment vehicles. ETFs offer benefits such as intraday liquidity, real-time pricing, and the ability to trade on exchanges. These characteristics have made ETFs attractive to retail and institutional investors who want exposure to different asset classes.
Regulatory Landscape and Investor Protection
The Monetary Authority of Singapore (MAS) is the…
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:
- If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000.
- When you are applying for a loan with a Housing…
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 to KYC and fiat ON & OFF ramping,” said CoinField’s CEO…
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