There is a great deal of talk about Zuckerberg looking into blockchain and cryptocurrency as a solution for Facebook's problems. That company has come under a great deal of fire for its role in the propaganda spread during the election by the Russians. Whether they were involved or not, the fake news situation is certainly real.
Zuckerberg is one of the most powerful people in the world. He has the ability to control the information flow to billions. For this reason, he is someone to pay attention to.
In my view, billions of people learning about and getting involved in cryptocurrency is great for humanity. We finally can see an alternative to the bankster controlled system which is presently enslaving people. Facebook has the ability to instantly put cryptocurrency into the hands of billions. This would be a very good thing.
Of course, in the process, it would most likely crush STEEM. Everything that is being done on here could be established by Zuckerberg. So why won't it happen?
Let us start by looking at what a blockchain is:
A decentralized, open ledger whereby transactions are verified by unknown users according to rules established by consensus.
No matter what he tries to call it, I doubt Zuckerberg is going to set up a blockchain. He will not decentralize his empire. In fact, the system will not allow him to do that.
Marky Mark talks a lot about trying to do what is best for humanity. Along with his wife, they set up a foundation that will be funded using Facebook shares to help cure the world's ills. So, perhaps he got the "I got mine, now I am going to save the world" syndrome.
Even if he did, he cannot kill Facebook's value. That is something he is dependent upon to fund what they want to do. Facebook makes its money through advertising and the selling of data. Establishing a blockchain could eliminate this. Under that circumstance, where does the revenue come from?
At the same time, even if Zuckerberg suddenly is all heart, the banksters are not. While he has control in term so voting, there are plenty of institutions with a big stake in Facebook.
These 10 funds have 30% of the company. They might not be able to stop Zuckerberg via vote, they can dump the stock which would collapse the price. When you follow it through, this would cut into the money him and his wife want to use to fund their save the world projects .
A decentralized blockchain would make the value of Facebook plummet. Following that path would enable anyone to build upon it making Facebook's value next to nothing. Sure, the new blockchain might be worth a ton but the apps are easily duplicated. Part of Facebook's success comes from the fact it is not easily duplicated.
So while 2 billion+ people suddenly introduced to cryptocurrency and getting paid for their activities on there would be a big step forward for humanity, I simply do not see it evolving that way. A Facebook token will be a centralized, controlled item. It will also offer people minimal rewards. Do not forget, YouTube already pays people, although most receive an insignificant amount. It stands to reason that Facebook will do something similar. Most of the reward pool would go to the company.
STEEM does not have 2 billion people using it. However, it does have a blockchain. Even if Facebook implements a token, there still is the ability to control and censor. Using this as a way to give the community the say over the news is just a mirage. As long as it is on Facebook servers and the code is closed, anything can be changed. The only way to truly divest from the heat coming on Facebook is to set up a fully decentralized, open blockchain whereby they cannot control what the community decides. Going this route means they also cede control (and value) of Facebook.
It simply is not going to happen.
Therefore, let us all keep Steemin' and welcome all those displaced Facebook users onto STEEM.
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