Facebook and Telegram Are Hoping to Succeed Where Bitcoin Failed
According to an article on New York Times, Facebook and Telegram are trying to create their own Cryptocurrencies. But it will probably be different from Bitcoin and other popular coins. Read more here.
I don't think it'll work. They won't get the adoption from crypto enthusiasts because of too much centralization, and they won't get adoption from the "normies" because of the crypto winter.
Better stay alert to news like this. Look what’s going on in China with their social scoring system look at all the data that is shared willingly - without consideration of consequences - by most of the social media users, take a look at what has come to light regarding the latest developments around coinbase - naive to think they are the only ones making use of sophisticated tracking and providing this data to other bad actors- and start putting 2&2 together. We’re already living far beyond the dystopian views of Orwells 1984. I also believe most of the western hemisphere is a well organized cleptocracy which is maybe working better than other oppressive systems but still comes with structures that will always be in favor of the rich and mighty. Some of crypto might have the power to mess with those structures but they won’t give up their power without a fight. Uncensored social media, Bitcoin, Steem and maybe some other tools might be sufficient to slowly erode some of the established power structures. Maybe....
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