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RE: Is Facebook working on its own cryptocurrency to run Facebook on?
They can build incentives by creating a system of blockchain based paid upvotes. Of course this is not decentralized, but people would not care much. Anybody with a huge following would profit from this and like the new system.
But you are right, STEEMIT is 1000x better and even if they start such a system, it will never be comparable because the censorship free, decentralized blockchain is the future. Especially in times of fake news and truths being called fake news.
They could build incentives as you describe but this is effectively bolting on a blockchain to an existing site/ application.
To change Facebook to become similar to steemit would require a complete redesign and relinquishing control which is something I’m pretty sure they won’t do.
Hope so @ew-and-pettenrs In my opinion fb could add only some kind of payments for their ad services (and fb shops). And you can exchange its crypto. Users won't get any cash for their time on fb or from likes. Btw do you know that two days ago twitter posted its first-ever profit 330 mln :D Why they even exist and who pay their bills and what for ;0
No, I did not know. But twitter is not gonna be a thing in the future. We already have a blockchain based, paid short message service running on the STEEM blockchain. I forgot the name but it makes twitter obsolete already.