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!
It is important to note that the success and impact of any social media-based cryptocurrency will depend on a variety of factors, including user acceptance, security, regulatory framework, and the value proposition offered by these platforms. While the idea is attractive, it remains speculative, and the true consequences need to be observed if and when such an initiative is implemented. For Economic impact whare The rate of adoption will determine the impact on a country's economy, potentially impacting online advertising, e-commerce, and digital payments.