Knee-jerk reaction may be fear and/or anger, but hear me out. Mark Z of Facebook has taken to Social Media to inform the public that Cryptocurrency is on his mind. Some believe this is just a move to make people see Facebook as a Technologically Progressive company; that said, I think that the financial gain that can come with a company of that size getting into Cryptocurrency is enough to push Facebook to begin adoption in some format. It may be that they'll create their own Crypto/Blockchain; that would be very interesting and I know it would scare many. That said, Amazon is in the same boat. Those two giants will either create their own or adopt a known one, because the Blockchain Movement shows no signs of slowing down and I know that two of the world's richest men, Bezos and Mark, won't be left behind. They've already established themselves as technical powerhouses, so it is an obvious next step.
What if Facebook joins forces with/adopts the Steem Blockchain into their existing infrastructure?
It is not a stretch to say that this would literally move the price of Steem in a way that has never even been considered; I would straight-faced tell someone that I expect the price of Steem to hit $500-1000 USD the year that happened, per Steem. It would be an unprecedented movement too; the market would flood like the days of Noah if this were to happen. Some people's knee-jerk reaction would be to shutter, scream, or raise their fist to this thought, because a lot of them hate a lot of what Facebook represents, and with good reason. They've monopolized the Social Media Market (Steemit is a rising alternative), they handle user data in a way that many consider unfair from a privacy and an ownership standpoint, and they are centralized, something that many in the Crypto-world really hate.
That said, if a transition to move Facebook onto/adopt the Steem Blockchain into their system in some way were to occur, we'd begin to see some of the benefits offered by that, which include:
- Making Facebook more transparent and their record keeping more permanent
- Making Facebook less centralized, in general
- Providing Users compensation for the data that is harvested from their accounts constantly by Facebook, which is the data that comes from interacting with peers on Social Media. This is the power of the Steem Blockchain.
I don't think it's that farfetched, as they would be assimilating/joining with a rising competitor, one that has the favor of the main crypto-populous and one that will always have the favor of Crypto experts and personalities. If they were to come out with their own blockchain, yeah, it would be successful, but it could split the market and alienate the faithful of this platform, which has risen to the 1000th most visited site in the entire world (roughly: https://steemit.com/steemit/@biddle/steemit-is-approaching-the-1-000th-most-visited-site-in-the-world-and-is-in-the-top-500-most-visited-in-the-u-s-according-to ). I don't think Facebook necessarily wants to start a war, so it wouldn't surprise me. It could go either way, but it would be a hell of a price increase, is my main point, and it would benefit users of Facebook as well for the reasons I mention above.
