Facebook To Join Cryptocurrency Bandwagon

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The year 2017 will always be remembered as the year that cryptocurrency emerged on the global stage and entered into mainstream consciousness. Led by Bitcoin, the meteoric rise of these online assets further fueled their acceptance both as a global currency and as an investment option.

However, even those momentous events in the cryptocurrency market only seem to be a prelude to something even bigger that could happen in 2018. For instance, there is the possibility that cryptocurrency’s acceptance could even accelerate this year as industry titans are now starting to acknowledge its potential in shaking up the future. Facebook founder Mark Zuckerberg has now announced his plan to study cryptocurrencies and other decentralizing technologies to see how they might be applied to the world’s largest social media platform.

Facebook CEO Mark Zuckerberg announced Thursday he plans to study cryptocurrencies and other decentralizing technologies as part of a larger bid to improve the social networking service he co-founded.

Aptly in a Facebook post, Zuckerberg outlined what he called personal challenges for the year ahead, noting that one is to study the “positive and negative aspects” of cryptocurrency and encryption.

Zuckerberg went on to note that his theme for this year is to focus on “fixing important issues” in technology, media and government. “I’m looking forward to bringing groups of experts together to discuss and help work through these topics,” he wrote.

Still, it’s his comments on decentralization that have the blockchain world astir.

Lauded for its ability to create valuable, global peer-to-peer networks, Zuckerberg called cryptocurrencies one of the most interesting questions in technology right now. He added that today, many have lost faith that “technology would be a decentralizing force.”

He said:

“There are important counter-trends to this – like encryption and cryptocurrency – that take power from centralized systems and put it back into people’s hands…I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.”

via Coindesk


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