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!
Facebook already tried this and the government basically told them this was a big no, governments are never going to allow a big company like Facebook to do this, and if they dared to do so anyway then they will simply find a way to destroy them.
This is why bitcoin is decentralized on the first place, as other currencies independent from government control were created way before bitcoin, and all of them were put out of business for some reason or another, and while I could see those social media platforms using an independent cryptocurrency for some of their services, they will never be allowed to release their own decentralized coin.