What Commotions Will the Facebook Stablecoin Make?
The reason is that stablecoins are backed by real currencies like dollar, and as a result, they do not have the volatilities that other cryptocurrencies like Bitcoin have. The lack of volatilities in the market of cryptocurrencies can bring different investors and users to this market, and this is the outlook that experts have considered for the stablecoin of Facebook.
It doesn’t matter whether you are a fan of Mark Zuckerberg and his big company Facebook or not; in any case, whatever stance you may have toward it, you can never question its worth and importance in the world of technology. Now it’s the time for this tech giant to step inside the world of cryptocurrencies and this company intends to release its cryptocurrency in the form of a stablecoin. This cryptocurrency has not entered the world of technology yet, but there are speculations about it each day, and even though it has not yet been released, it has gathered some critics for itself. But will Facebook reach success in the world of Blockchain and cryptocurrencies?
Facebook Has Many Tools at Its Disposal
In the field of social media, Facebook is undoubtedly the flagship. The number of users of this social media is about 2 billion. This number is one-fourth of the earth’s population. This numbers make Facebook one of the most important businesses and companies in the world. Having a large volume of users’ data gives this company a magical power. During all the years that Facebook has shone in the world of technology, numerous competitors have entered into a competition with it, but none have been able to replace Facebook.
Now, after all the positive and helpful experiences that this company has made for itself and others, it wants to enter the world of cryptocurrencies. By entering this field, Facebook can create a completely new ecosystem in the field of payments. As it is said, Facebook’s stablecoin will be able to be transferred via digital messaging services as well, and this means that any user can easily send currency to someone via the messaging software he/she has on his/her smartphone or computer.
Facebook Will Be Successful
One of the main weights that Facebook takes advantage of in its path toward entering the world of cryptocurrencies, is the huge number of users that not only have used Facebook for years in order to communicate with their friends and family, but they also consider this tech giant as part of the world of communication in their lives. This very fact can play an important role in attracting people’s opinion to the stablecoin of Facebook. In fact, a main part of the brand making for this company’s stablecoin has already been done even before this company steps inside the world of cryptocurrencies. Such an achievement will be very important for the players that intend to be active in the field of cryptocurrencies.
In addition, Facebook wants to release its stablecoin to the market, and this is one of the advantages that increases the possibility of its success more and more. The reason is that stablecoins are backed by real currencies like dollar, and as a result, they do not have the volatilities that other cryptocurrencies like Bitcoin have. The lack of volatilities in the market of cryptocurrencies can bring different investors and users to this market, and this is the outlook that experts have considered for the stablecoin of Facebook.