Every year, Facebook CEO Mark Zuckerberg tries to fix the problems persisting in the system and make Facebook better. Since 2009, he faces new challenges and comes up with better Facebook. For this year, his challenge is to fix things on Facebook using better tools to improve its services. In 2018, they will be looking forward to fixing things on Facebook. In his recent Facebook post, he also said that Facebook will be looking forward towards cryptocurrency in 2018.
Zuckenberg’s Interest in encryption & his statements
Zuckerberg was found taking interest in encryption and cryptocurrency, which takes power from centralized systems such as banks and put it back into the hands of people. He also added to study in deep the positive and negative aspects of these technologies. Facebook will be looking forward towards how these technologies can be used to make Facebook better.
According to him, cryptocurrency is a decentralized system which could win people’s trust. People have lost their faith in number of social media and giant tech companies. Public opinion has turned on today’s giant tech in the market. Technology of crypto is corrupted by some giant tech industries and government agencies that use this technology to monitor people. Due to this, many people have lost their faith in giant tech companies and trend of crypto technology.
Zuckerberg believes that crypto technology such as bitcoin can be used to reverse this theme. Many people showed their support towards internet and social media because it promised to put more power in people’s hand. This technological trend can help to give power in the hands of people which is currently in the hands of centralized systems.
One of the common questions in technology today is regarding centralization vs decentralization. According to Zuckerberg, the technology of cryptocurrency is possible only with the faith of people regarding its decentralizing effect.
So the question is: Will Facebook start its own cryptocurrency in 2018?
David Marcus, who is the Vice President of messaging products also joined the board of Coinbase Inc. So, Zuckerberg isn’t only one from Facebook taking interest in crypto technology.
Bitcoin which was found in 2008 has noticed a crazy growth in its prices during the last quarter of 2017. It is most expensive cryptocurrency with the highest market cap. People’s faith in such technology could bring back the decentralizing effect.
The entire world is divided into 2 parts, people in the favor of cryptocurrencies and other with the people against it. But, Mark Zuckerberg’s stand and positive approach towards the technology of crypto could positively impact this technology and its effect could be seen at the global level in near future.
It is hard to answer whether Facebook would come up with its own cryptocurrency. But, as Facebook is the largest social media, if it comes up with its own cryptocurrency, it would bring a dramatic change in the market.