Facebook could elevate bitcoin to global status

 Facebook, the revolutionary social network used by one  sixth of the world’s population, has been processing payments for game  players and advertisers since its early days in 2007. Now, users can  even send money to one another through the messenger app. If you didn’t know monetary transactions on Facebook existed, you can  see how simple it is with a few quick steps. First, send a message to  the person you wish to send money to. Then, tap the “$” symbol and enter  the amount you want to send. Last, hit pay and enter your debit card to  send the money. This should trigger an instant payment anywhere in the  world, but may take a few days to show up on bank statements. This is  certainly a nifty feature, but deals still have to go through banks,  interest has to be paid, and exchange rates factored in. Facebook’s CEO Mark Zuckerberg has also announced that he plans to  enhance the messenger feature further with the introduction of virtual  reality headsets such as the Facebook-owned Oculus Rift. The founder of  the popular social network believes it will be 10 years before VR hits  mass markets, but also described it as “the next major computing and communication platform.”  There is  a “social VR” team led by Daniel James and Mike Booth in place, working  on creating settings to act as VR chat rooms. Both men are executives  of gaming companies with backgrounds in creating 3D multiplayer  experiences. Already the  stage is set for a readymade e-currency like Bitcoin to show how it can  be incorporated in these chat functions. With the payment transfer  scheme between users, banks would be bypassed and fluctuating exchange  rates and fees would be eradicated. Facebook is a global network that  should have a sole global currency. In the same sense, Bitcoin could be the currency of choice for VR  settings. There are already plenty of ideas for what kind of VR chat  rooms users will be able to choose from. Virtual cafés, cinemas or  casinos are all potential options, and no doubt there would be the  opportunity to spend money on things in these places. AltSpaceVR for example already has shared browsing where users can watch Netflix videos. There are also plenty of Bitcoin casinos already in place that are  poised to benefit from a VR makeover. The Bitcoin casino industry is  thriving because casinos that use the e-currency can offer better  bonuses. A top online casino bonus may be a 100% deposit match, but a top Bitcoin casino bonus  would be a 100% match and 200 free spins on the slots. Adding strong  social aspects to these sites with VR will provide a fun gaming  experience in which players can meet like-minded individuals. Already, plenty of huge businesses such as Subway, Virgin and Reddit  are accepting Bitcoin as payment. The cryptocurrency is ready to take  the world by storm and all it will take is a mammoth company like  Facebook embracing it for that to happen.