Trend of Tokenization Series: Truth or Myth, Speculation Intensifies Amid Hype on Facecoin

Of late, the globally reputed social media company, Facebook has been in the news for testing their luck in the buzz world. None in this world is sure, whether Blockchain as technology or crypto-universe as a currency system has allured the social media giant and why they intend to establish blockchain technology setup precisely and what is their prime objective. 

But evidently, they sought after techno-savvies to develop blockchain ecosystem, as per the Facebook’s official careers page so the speculation arose Facebook could incept a stablecoin through which their clients can transfer money via WhatsApp.

Ever since then, we kept observing the mounting speculations over a baby even before mother incepted. 

Ross Sandler, Barclays internet analyst seemed to be betting on the prospects of Facebook’s crypto-project. However, Facebook is yet to shed some light on its project detailing the intricacies.

While as per the predictions made by Ross Sandler with CNBC, the cryptocurrency could potentially bring in the new revenue stream, that can exponentially grow and generate revenue of about $19 billion by 2021.

We seek a better clarity over what Facebook’s Mark Zuckerberg is up to his objectives if there’re any stablecoin plans or is he not contemplating about creating his own crypto. 

But amid this grey shaded areas about facebook’s blockchain’s initiatives, we have been getting speculative commentaries.

In yet another instance of Ted Livingston, who happens to be the industry veteran in making right anticipations and the founder and CEO of messaging platform Kik, thinks about facecoin’s optimism and reached to such an extent of saying, it may replace the U.S. dollar.

Nevertheless, for us, it appears that Facebook’s objectives are not indicating any despicable threats, nor do they indicate any constructive messages so far. 

Instead, the social networking company seems to be in sync with their typical claims of assisting the world.

Currency Strength Index: FxWirePro's hourly BTC spot index turns -110 (which is highly bearish), while the hourly USD spot index was at 27 (mildly bullish) at 07:33 GMT. 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex