Blockchain May not Be All that Wonderful Afterall
Facebook, Amazon and other companies such as Alphabet, Netflix, and Apple, have advertised Bitcoin and the closely-related blockchain to investors around the world. Looking critically at the above matter, the final definition does not seem to be in the affirmative.
Records show that the Chief Financial Officer of Netflix, David Wells, during one of the financial statements of the company, stated that having a currency with no boundaries in the next ten years, could be a wonderful initiative. This statement was made just last year.
ADVOCATES Who SUPPORT Bitcoin
Among those who campaigned and advocated for Bitcoin, Winklevoss twins happen to be notable participants for the cause. This was something which Mark Zuckerberg on no occasion did, Bill Gates and Warren Buffett aren’t also left out from the blame game, as they never really did stand up for Bitcoin. As at now, buying and selling on Amazon cannot be carried out with Digital currencies.
Considering the instability of cryptocurrencies, the supervisory dangers and the devaluation of demand, it should not then come as a surprise that the supermen of tech have taken great measures to ensure that Bitcoin emulations do now have any form of advertisements on their online platforms.
THE BLOCKCHAIN CONNECTION
Some quarters have often wondered why firm-welcoming and assumption-unrestricted blockchains have not been greeted with much enthusiasm, these blockchains brands have advertised disseminated journals as proficient and protected ones.
Large banks such as The Hongkong and Shanghai Banking Corporation Holdings, have been keen to advance its cause, this would then ensure that the transfer, or passage of data, is done more steadily, without negatively affecting its primary commercial running.
It has been close to ten years since Bitcoin was first introduced to the world, and just recently, the owner of Facebook, Mark Zuckerberg, claimed that he wanted to explore the world of encryption and simulated legal tenders. As discovered, he has already hired ten people to work on the matter.
Everything does not presently seem to be calm. The financial corporations currently dominate the largest portion of blockchain rights, more than technology corporations. Technology corporations are largely controlled by archaic bodies such as IBM.
Questions have arisen as to the unwillingness of technology corporations to accept blockchain as an ongoing menace. People who are adherents to this cause believe that the technology of blockchain is a deviation from the choice of citizens of the Silicon Valley. These citizens are the biggest guns who have made a name for themselves by working on a minimal market quantity, just like most banks.
FACEBOOK AND THE INFUSION OF BLOCKCHAIN
Using Facebook as a case study, it should be noted that it is a consolidated deep-rooted intermediary which retails advertisements worth $40 billion each year, this is made possible by data which is relinquished for free. This makes people wonder why Mark Zuckerberg is reluctant to get involved with the blockchain concept.
A French group of experts called the Generation Libre has offered to aid people in having the administrative authority over their data which would include selling them to people who receive blockchain payments. However, if this happnes, Facebook could lose subscribers in a bid to reconceive themselves.
Since prominent banks have lasted for years without crypto concepts and the likes, then, there would be no need to fret. The increase in ICO was intended to upset the model meant for the capital financing scheme, however, it looks as if it has been co-selected. An example is a contention between Whatsapp and Telegram over the latter abandoning its open ICO scheme, subsequently after growing $1.7 billion confidentiality.
Facebook cannot ruin its business replica, and their counterparts might not be seen as a menace, unless handlers quit and have total jurisdiction over the data allocated. Great technology brands and banks as well could suffer from the predicament of the pacesetters and focus on traditionalism. Zuckerberg’s view against blockchain does not mean it is not wonderful as it is.
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