Altcoins Are The New (and Way Better) Frequent-Flyer Miles
Facebook's recent announcement that they will "look into cryptocurrencies" reminded me when airlines first started issuing frequent-flyer miles.
Read the announcement here -> https://www.cnbc.com/2018/01/05/mark-zuckerberg-says-facebook-will-look-into-cryptocurrency.html
If you think about it, those miles are altcoins too. They have value, they can be exchanged for many things (depends on the airline, of course), can be transferred (for a fee), and so on. They aren't divisible, and some may say they are not durable, but they definitely have some traits of the fiat currencies that we know.
Altcoins resemble fiat currencies way closer than frequent-flyer miles do. And now, companies are finding out that they can create their own coins or tokens and benefit from it. If a company with a large customer base, and lots of "transactions" amongst them can force users to utilize its new coin, such company can look into a new, and massive, profit pool.
Hello, Facebook. I look forward to your new venture into the financial services world! Payments, loans, crdit products, will be just the beginning. Other FAANGS will follow.
A good insight article. A step Facebook should have taken early as they would have learned about Reddcoin and how it is surging. A goldmine awaiting to be utilised via its gigantic membership.
Indeed. If they are smart about it, the profits can be gargantuan - perhaps even setting the standard coin for all major social networks. The "first-movers advantage" can be substantial.
how do you think about the price of sbd and steem in early 2018 this?
Hard to tell, but I believe the conditions are good to keep the value going upwards. Steem's coin appeal will be closely linked to the success of the blogging platform, I reckon. Good times ahead!
That's cool
We have steem, they can hop here
Sure. they will be welcome. The more, the merrier.