Facebook wants to bring its billions with the help of the blockchain
The social network Facebook, which capitalization at the end of July collapsed in one day by 119 billion dollars, is looking for ways to return the shaken confidence of investors.
The ban on cryptocurrency advertising, which was introduced at the beginning of the year, was not appreciated by the market, as well as the fact that Facebook still has not made a step into the crypto world.
However, the situation is changing: after 8 months as a part of the Board of the American crypto-exchange Coinbase, David Marcus, the chief of blockchain research in Facebook, decided to leave the trading platform, explaining this by “a conflict of interest”.
Thus, the study of the blockchain in Facebook is clearly moving into a practical plane, and to a large extent this is due to the depressing behavior of the shares of companies: the management of the social network is trying to understand how to return the billions of lost capitalization, starting practical application of the blockchain technology, which has already allowed many companies in the world to achieve significant progress, especially in the eyes of investors.
Meanwhile, in addition to the fact that the market began to discuss what kind of blockchain project Facebook will finally show the world (perhaps the opportunity to buy cryptocurrencies through its own digital wallet or launch its own platform for trading crypto-coins), there was talk that, perhaps, the social network is now trying to grab any straw to stay afloat, since it is possible that new technologies will lead to a fundamental restructuring of the social media market.
