"
On the one hand, these are amazing developments that validate blockchain technology and its potential as a currency system, however, they are also drifting us away from the original vision of a decentralised monetary system. In February 2009, Satoshi wrote on a P2P online forum:
'The root problem with conventional currency is all the trust thats required to make it work
but the history of fiat currencies is full of breaches of that trust'
Taken from the article linked below, worth reading. Do you think the emergence of banking and corporate digital currencies will take away from the original cryptocurrencies or can they live in harmony?
https://medium.com/@marcus_61942/decentralised-cryptocurrencies-vs-digital-currencies-3811e36cc94fAt the end of the day, if no-one chooses to use the digital currencies, there won't be any reason to be concerned about their supposed "rise". Their own form of digital currencies shouldn't be anything different than what they already have (digital fiat) so I can't see these coins becoming anything more than a sort of collectible or vanity token. They'd need to make a considerable marketplace to even begin to get these coins off the ground, and if they're not interested in developing the coins to that extent then cryptos will continue to be the big thing.
Facebookcoin better have a bustling marketplace where users can buy and sell the coin freely, with minimal fees, otherwise, they're wasting their time quite severely. It's no better than purchasing Steam wallets funds if there's no way to take the tokens you earn out of their system. You just funnel money into their business and never get any real value out of it because it'll only be able to purchase intangible goods. At least through the Facebook platform alone. Maybe JPMCoin will have more merit and value.