Quote from: adzino on March 02, 2021, 06:59:09 PM

Quote from: paxmao on February 27, 2021, 11:14:01 PM

The "FAANG" (Facebook, Apple, Amazon, Netflix, Google) are now near a monopolistic position in their core areas and they are using it to make extra profits. But the are winds of war, e.g. Apple disallowing segmentation for Facebook and Google or charging in in-app purchases to third parties.

Apart from Facebooks try with Libra, is there anyway they could start competing on the blockchain world? My take is that they should.

You mean they should start making their own crypto currencies or coins? Well they can, but do we need them? We may if they provide better use cases. But one thing, they starting to develop their own crypto currencies will help spread more knowledge about the "existence" of current coins like Bitcoin and ETH among general people. People are curious. Once they see that Apple and Google are looking at making their own crypto currencies, naturally (at least most of the people) will try to learn more about crypto currencies. This way, they will get to know about bitcoin and other well known currencies.
So yeah, they should start competing and aggressively promote blockchain techonology.

I remember Telegram had their own token Gram and even set up some ICO project to gather money to create Telegram Open Network Blockchain. But as far as I know everything ends up with a big drop (lots of investors lost their money). So maybe it's really easier for social networks to use currently existing cryptocoins either to create their own blockchain.