Mark Zuckerberg’s yearly mission statement for Facebook’s path in 2018 made it very clear cryptocurrencies in some capacity are going to be introduced.
Zuckerberg paints Facebook on the side of the people and their struggle against centralized authority figures within (other) big tech companies and governments. He cites cryptocurrencies as being able to ” … 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 to best use them in our services.”
Though the social media giant simply may adopt already existing cryptocurrencies into their platform, many are speculating they will instead create a new coin that may be awarded for posting premium content.
This idea makes the most sense if you’ve heard of steemit.com.
Steemit is one of the first blockchain social media platforms and it is truly decentralized. You earn digital currency either by posting premium content or being actively engaged within the community. It really is for the people, and though it is still in infancy and nothing like Facebook, Zuckerberg knows this is his real competition.
A former Facebook executive Chamath Palihapitiya recently made statements that called out some of Facebook’s true intentions. They, along with other tech giants such as Google, Twitter, Instagram, and Snapchat, have been placing us in echo chambers, where we only are exposed to similar beliefs and opinions.
“The short-term, dopamine-driven feedback loops that we have created are destroying how society works: no civil discourse, no cooperation, misinformation, mistruth …
… your behaviors, you don’t realize it, but you are being programmed.”
He is not the only former Facebook executive or investor to feel this way.
Former Facebook investor Sean Parker has said that Facebook and others have succeeded by “exploiting a vulnerability in human psychology.”
For the people? Not even in the slightest. Facebook is part of the web of centralized corporate control that blockchain seeks to free us from – steemit is the future of social media; powered by the people, for the people.
Facebook will create their own currency and it will be very similar to how steemit works because they do not want steemit to survive. If steemit succeeds, Facebook will fail, and Zuckerberg knows this.