Id be surprised if at the end of 2018 Facebook, Amazon or Google didnt somehow enter the cryptocurrency market. In fact, its bound to happen.
Official Bitcoin ForumBitcoin.orgThe owner Cobra recently made this statement. Now, this gamble seems to be coming true.
Rumors have surfaced this month that social media giant Facebook is planning to acquire Coinbase, the largest digital currency exchange in the United States. Although this statement has been questioned by many mainstream media, yesterday, the British Independent reiterated the possibility of an acquisition, citing a source as saying, It is expected, but Coinbase CEO Brian Whether Armstrong and the team will agree is another question.
The reason why Facebooks entry into the cryptocurrency market and acquisition of exchanges is not surprising is that its recent moves have caused much speculation.
This week, Facebook abruptly eased its ban on cryptocurrency ads, allowing legitimate cryptocurrency ads to be placed on Facebook after review. According to Bloomberg News, before the ban was introduced, Facebook established its own blockchain department to explore the application of this technology in Facebook products.
Contrary to Facebook, Google officially implemented a cryptocurrency advertising ban this month, but there are still gambling and other less legal content on its pages, so there is speculation that Google may want to introduce its own cryptocurrency, Thats why ads for other cryptocurrencies are now removed.
Although these claims seem baseless. But I have to admit that as a classical Internet but a technology giant, if Google, Amazon or Facebook do not want to miss the next Internet, there is no doubt that they will apply blockchain technology and related business models. But the specific application may have to wait some time.
If Facebook is interested, from Coinbases point of view, is it possible to accept it?
Judging from the outside worlds understanding of Coinbase, this possibility is not small. Although Coinbase experienced a 40-fold increase in users in 2017, with an annual revenue of $1 billion, the latest (April this year)Valuation at $8 billion, and claims to be a self-sufficient company.
However, earlier this month, Coinbase was exposed to user dissatisfaction due to insufficient business capabilities and difficulty in revolving funds to users. They submitted a 134-page complaint to the SEC and the California Department of Business Supervision, saying that Coinbase marketed knowingly that they could not actually service provided.
Coinbase CEO Armstrong also revealed last week that he is increasingly able to accept the bear market because it gives the company room to breathe and explore some new avenues of development.
I am the author Huang Xuejiao. For blockchain project reporting/communication, you can add WeChat hxjiapg. Please note your position and reason.
I am the author Huang Xuejiao. For blockchain project reporting/communication, you can add WeChat hxjiapg. Please note your position and reason.
