,
11 tweets,
5 min read
Read on Twitter
1/ as you already know, @facebook will soon issue its own digital currency 💱
if you've been hiding under a rock, @WSJ's @lizrhoffman and i delve into the who, what, when, where, and why of "GlobalCoin" (aka ZuckBucks) on @CNBCClosingBell 👇
if you've been hiding under a rock, @WSJ's @lizrhoffman and i delve into the who, what, when, where, and why of "GlobalCoin" (aka ZuckBucks) on @CNBCClosingBell 👇
2/ why? because a "digital currency" will allow facebook to introduce payments into its platform without the hassle of becoming a bank or creating a financial services company
🔮 my prediction: every major platform will eventually become a "bank" of sorts
🔮 my prediction: every major platform will eventually become a "bank" of sorts
3/ the foray into corporate coins has been going on for some time, but GlobalCoin is definitely the BIGGEST given the 2.5 billion users across facebook, whatsapp, and instagram
the 🔥 HEAT 🔥 is on! every board room will be deliberating this move...
the 🔥 HEAT 🔥 is on! every board room will be deliberating this move...
5/ back to $fb...
the new currency will enable in-app:
✅ payments
✅ commerce
✅ gaming & other new applications
facebook will also introduce a new identity system so they can comply w/ money transmission laws while providing sufficient oversight of txns across jurisdictions
the new currency will enable in-app:
✅ payments
✅ commerce
✅ gaming & other new applications
facebook will also introduce a new identity system so they can comply w/ money transmission laws while providing sufficient oversight of txns across jurisdictions
6/ but let me be clear: this is less about payments and more about privacy and data gathering 🕵🏽♀️ SURVEILLANCE CAPITALISM Y'ALL
this is about collecting a big ol' pooper 💩 scooper full of data - Facebook's only business model is selling data / ads
medium.com/what-grinds-my…
this is about collecting a big ol' pooper 💩 scooper full of data - Facebook's only business model is selling data / ads
medium.com/what-grinds-my…
7/ a decentralized network with 100 initial "participants" will allow facebook to claim the network is not under its control
don't forget. facebook is a company is crisis 👀
it will be a political punching 🥊 bag in the 2020 US election. and US privacy 🔍 laws are coming soon.
don't forget. facebook is a company is crisis 👀
it will be a political punching 🥊 bag in the 2020 US election. and US privacy 🔍 laws are coming soon.
8/ regardless of how it's used, you don't need to ask me twice about trusting facebook with my data 🙅♀️
remember the cambridge analytica saga? the story is *not* over yet... analysts may be issuing a BUY rating on $FB right now, but how many more bombshells are coming?
remember the cambridge analytica saga? the story is *not* over yet... analysts may be issuing a BUY rating on $FB right now, but how many more bombshells are coming?
9/ OK, zooming out to BIG 🌎 picture:
- this is a net positive for bitcoin, it will get people using public/private key tech
- battle lines drawn 🖊️ co's like @square @Microsoft embracing bitcoin and building on top existing networks vs FB's approach of launching its own network
- this is a net positive for bitcoin, it will get people using public/private key tech
- battle lines drawn 🖊️ co's like @square @Microsoft embracing bitcoin and building on top existing networks vs FB's approach of launching its own network
10/ MASSIVE pressure on other major tech companies to get into crypto; and regardless of the approach they employee, will have the net result of driving more resources into our industry
💸 more financial capital
📺 more social capital
👩💻 more human capital
AND ATTENTION!
💸 more financial capital
📺 more social capital
👩💻 more human capital
AND ATTENTION!
11/ it’s going to be a wild ride in the world of crypto, and our team at @CoinSharesCo is excited for what's ahead 🚀🤟
