Will Tech Giants (Google, Facebook etc) Create Their Own Cryptocurrencies? ft Cedric Dahl
Fat Crypto Whale says "Which coin will probably be the one to be adopted by big tech gians (Apple, Amazon, Alibaba, Google...) or will they create their own?
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
What about Maker Dai Stable coin? Polychain Capital which in my humble opinion is one of the best Crypto funds out there took a large stake in Maker last year. The Dai has been trading right at $1 since since launched in January. Dai is tether decentralized and 100% math based, proven reserves.
I've read a lot about Telegram's TON and if it hasn't been stopped yet because I haven't read about it in a couple months, it should set the standard for western chat coins. It would not be stable like what Cedric describes, but it would probably incentivise other platforms such as Facebook, Google and Apple to look into these technologies for their social platforms as a medium of exchange.
I read that Zuckerberg has been looking into this too, but I have not read anything about Apple or Google doing it (though I assume they do have teams researching and developing into this possibility at the moment).
I find this to be quite a fascinating topic because cryptocurrencies are bound to expand as time goes. This technology is so revolutionary and solves so many day-to-day needs that it's just like internet, canned food, paper, automatic cars. You might not need it right now super specifically and might be able to do without, but with it, everything would be just so much easier if many people had it, so these tokenisations might bring it to the common eye and prove that they're feasible.
I wouldn't probably agree with most of them if they're as centralised as I think they'll be, but I'm up for reviewing them when they come. :)
A true decentralized stable coin would trade right at $1 at all times and be backed be decentralized collateral, provable math based system. The only one I know of is Dai. Even if the value of ETH dropped past 90% in a flash it would still survive and trade right at $1 since the economics behind it make this way. You can see here it tracks the dollar near perfectly - https://coinmarketcap.com/currencies/dai/
The idea of leveling the playing field with giants like google is one of the could be a big motivator for the competition. Once the idea of data collection is incentivized for the masses, this has the potential to start a new small industry itself
I have already heard such a things as Facewhat or twitter creating its own cryptocurency. Your friend is right. At this moment google is the dominant giant including AI, self driving-cars...That’s completely possible for google to compensate people not getting anything for their information in a way baboon f perhaps upvotes or their own cryptocurency. Competition will force these giant companies to figure something out.
Fat Crypto Vell has said before, Ananya will be accepted by big technicians (Apple, Amazon, Alibaba, Google ...), then they will create themselves and I think they like their own currency quantities.
Decentralization is kinda complex but easy to understand, getting to understand this concept, then one can definitely make own coin. I think steem and I hope steem
If they ran on steem, that will be awesome, but i think they will want to create a crypto on top of a blockchain like EOS, or better still make theirs as it will enable them acquire more profit more than being on an existing crypto. I think they will want to take opportunity of the early adoption and create their own
Facebook would need to decentralize to pull off their own token so I see it highly unlikely its going to happen. I mean let's think about it for a sec... they'd need to pull their shares off the Nasdaq, then tokenize it on a blockchain. The same types of questions were asked in the dot.com boom. Why didn't Blockbuster just start shutting down there stores and start digitizing the movie industry like Netflix did? They could easily crushed them in the early 2000's. In real life its not so easy to change your entire business model. Facebook in order to compete with Blockchain startups like Steem and the Steem ever expanding apps would need to change their entire business model from being ad based revenue to FB coin the "utility token". Its not going happen. The best they could do is create some type of FB coins rewards system but this puts them in direct conflict with there advertisers. Facebook will forever be relying on data mining to make $$$, whereas in the blockchain world we don't need any advertisers to have a super valued community own our own.
Thanks for this enlightenment, Facebooks business model is built on an entirely different structure, same goes for all these other multinationals like Apple etc, which leaves no room for adoption of cryptocurrencies, however, they might come up under a different name, if at all
Indeed. I believe unless they completely change there entire business model it will be impossible to integrate Crypto successfully. FB is acting just like the banks. We like blockchain just not Bitcoin or the Crypto currency. As veterans already know in this space you can't have a blockchain without the Crypto. What makes the blockchain so powerful is the open accessible nature of it. Crypto is for everyone not like the legacy closed and controlled financial systems we have today.
At this moment, Bloomberg has launched a cryptocurrency index in conjunction with Galaxy Digital Capital Management, a digital assets merchant bank headed by billionaire ex-hedge fund manager Michael Novogratz.
I might be wrong but this has the probability to lead the trend of these other multinationals adopting their own crypto as well
You can check here for more info
https://www.coindesk.com/bloomberg-partners-with-novogratz-to-launch-crypto-index/
everyone is gonna create their own cryptocurrency as it has got a bright future and everyone will prefer this only as there is no transaction charges and tax for crypto 😊
Fat Crypto Whale says "Which coin will probably be the one to be adopted by big tech gians (Apple, Amazon, Alibaba, Google...) or will they create their own?
I think all of them will prefer their own coins rather than investing in any other coins.
I think it's a matter of time for big companies to enter the world of cryptocurrencies since they are becoming popular. But in reality they are taking part of their market, so they will try to create centralized cryptocurrencies that allow them to maintain their control and power.