Every week Zeus Exchange shares the latest news in the tokenized assets industry, with our comments and thoughts on why it’s important to us, and it's users. Heres what’s been going on in the past week:
Let's talk! Facebook's Libra launch has us asking many questions, such as:
- Does it mean that blockchain adoption is just around the corner? What’s a bigger sign of general technology adoption, Facebook’s Libra in your phone (ie. you know, it’s there, and you use it), or IBM/Microsoft/Intel using blockchain protocols (you don’t necessarily know it’s there but you still use it, like “Intel inside”)?
- Does it mean, that there soon will be plenty of apps working with Libra, such as purchases, games, payments, services, and if it would be easy to integrate or not? Also, what data privacy and service security should look like for Facebook to make a transition to fintech? We can handle breaking into our social media account, but we don’t expect that to happen to our bank accounts, do we?
- As much as we enjoy an idea of Libra per se (and frankly speaking, the move was inevitable), we have to admit, that Facebook is facing two opposite forces right now. These forces are: (1) a Congress’ pressure for being too big to fail, and (2) strategic pressure to expand into new industries after being scrutinized by the government as a social media giant.
- So, are we correct in thinking, that Telegram is better positioned for a successful crypto launch, with strong development and cybersecurity expertise, independence from governments, great interface, a whole development ecosystem, and all the other stuff we love Telegram for? Or should we expect that someone is coming for Telegram too?
- Finally, what will the investment industry and fintech industry look like with Libra & Telegram coming to the market? Could stablecoins be stronger than reserve currencies? Could cross-national payment systems finally beat the outdated banking?
This whole development with Libra will hopefully allow us to see the start of blockchain adoption, with such a large worldwide company getting into the mix. With Facebook being under a microscope nowadays, security will also be a major factor in terms of usage and adoption. At this point only time will tell, and only then will we know if Libra will help blockchain adoption, or hinder its developments.