A random idea bumped my head and has got stuck ever since. The only remedy for this is to be satisfied with other members view or opinion on this topic.
Majority of us here make use of social media tools like Whatsapp, telegram, TikTok, Instagram, Facebook and the likes. Most persons also use these social media apps to market their businesses no matter the product, no matter the distance, no matter the boundaries, and people have been making money after gaining the trust from followers.
My thought happens to be what if a social media app management like Facebook decides to launch its own cryptocurrency? (A currency that is decentralized as Bitcoin as well as it having other properties and functions than meets the eye and qualifies as investment worthy or trade worthy coin.)
How would it look like if other social media apps follow suit and start launching their own cryptocurrency too?
How will this impact a countries economy?
Let's discuss!
In that case there will be another set of shitcoins in the crypto market.
Since there are so many social media platforms the people will become overwhelmed with the number of altcoins to invest in.
Hence the coins won't be valuable. Besides that, I don't think social media platforms like tiktok, facebook and instagram provide any major utility.
So what's the worth of a coin whose platform doesn't have any utility.