Social media and payment systems are network structures. Their life cycle includes a certain moment when the leader breaks away and leaves competitors far behind.
This moment comes when the users choose a system guided not by any of its features, but by the fact that the majority already use this particular system.
The rest of the market participants get separate narrow niches.
There are leaders on the cryptocurrency market now, but there is also space for competition. If Facebook brings a mass market user to crypto, it will not develop the market. New users will remain in the Facebook ecosystem, while the existing users will join this most extensive system.
Those who now seem to be giants of the crypto market will become niche players. Their advantages are anonymity, speculation tools, and lack of regulatory control. But most users are not interested in such advantages. The leader has the opportunity to provide the best conditions for users, for businesses, and for developers.
Do users get benefit eventually? No, market monopolization is not in their interest. The Facebook social network each year demonstrates the negative effects of monopolization.
What is certainly in the interests of users is an end-to-end infrastructure of the entire cryptocurrency and blockchain ecosystem.
It includes easy and fast currency exchange, digital asset package management, transactions with any users and organizations, whatever payment systems and currencies they use. This is exactly what the EVEN Foundation creates. Interoperability can keep a crypto market from a Facebook monopoly. Our advisor Maxim Frolov also spoke on this topic. Here is his article: https://lnkd.in/gd9-ErA
