20190322-FB is going after the dollar?


Medium (FB isn’t gong after BTC.  It’s going after the dollar.)


-Mark Zuckerberg recently wrote a long post outlining FB’s shift from open sharing to private communications. 


-Kik is used by millions of people who spend more time in Kik than Snapchat, Twitter, and Instagram.  It offers a world free of broadcasts, feeds, and likes.


-So how is FB going to make money?  Via cryptopcurrency and its own coin.


-FB is probably trying to become the WeChat of the West via:

              -Remittances – Offering a way for millions of people to send money home for free.

              -the blockchain – enable payment functionality in their apps like Wechat.

-the platform – Like Wechat, FB will add more and more ways to spend FB coin inside their apps:  paying utility bills, ordering food at restaurants….


What FB is planning in near future:

-Offering stablecoin powered remittances.  Their first testing ground will be in India via Whatsapp.


-India receives more remittances each year than any other country in the world.  Whatsapp is the most popular app in india.


-Later on, if it could expand this option to other countries like Philippines, Egypt, Mexico and Vietnam.

-It could combine Whatsapp, Instagram, and Facebook Messenger together.  It could start to replace cash in each of those countries, becoming the primary currency for billions of people.


-FB’s ultimate goal might be to replace the dollar as the world‘s currency.  Just like the dollar was first pegged to gold then they got rid of gold.  Now they will peg FB to dollar and eventually get rid of dollar.


https://medium.com/@tedlivingston/facebook-isnt-going-after-bitcoin-it-s-going-after-the-dollar-a6bd1f68f058

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