5 massive changes "Diem" Cryptocurrency can make to Facebook Inc. and the world
Facebook Mission Statement:
"Give people the power to build community and bring the world closer together."
What is Facebook Inc?
Facebook, Inc. is a technology conglomerate based in California. It was founded by Mark Zuckerberg, along with his fellow roommates and students at Harvard College. Facebook is a popular global social network and one of the world's most valuable companies.
Facebook offers so much more beyond its social networking platform, including Facebook Messenger, Facebook Watch, and Facebook Portal. It also has acquired Instagram, WhatsApp, Oculus VR, Giphy and Mapillary, and has a stake in Jio Platforms.
Major Strengths of Facebook
USER BASE: In the last quarter of 2020 over 3 billion people were using at least one of the company's core products (Facebook, WhatsApp, Instagram, or Messenger) each month.
DATA: Facebook Inc. have high quality user data and are able to build extremely accurate profile of users. When they "unlock" the power of What's App data into the mix that will go up a level.
ADVERTISING PLATFORM: Facebook Inc ads are up there with the best ads platforms if not the best.
What can the Diem Cryptocurrency add to Facebook Inc?
It really depends on how it is deployed and what its purpose is. If they look to adapt a mix between what Brave Browser and what YouTube have in place it would be and existential shift in the use of data, ads and monetisation of people's attention.
They could payout Diem to the users of Facebook Inc. platforms for viewing advertisements similar to the Brave Browser model which already is this up and running. When you see an ad on Brave, you earn 70% of what the advertiser paid. Brave Ads look like system notifications. You get to pick how many, and how often to see them.
Brave browser is has some other big positives as well:
A change to a attention monetisation model like Brave could do some powerful things for Facebook:
1) They can give further encouragement for people to spend more time on Facebook products.
2) Turn around the way people think about adverts. Now an advert is revenue to the viewer.
3) Facebook can payout revenue to the best content creators on the Platform similar to what YouTube has in place.
4) It can change how people perceive how their data is used.
5) People will buy the Crypto Currency on exchanges...if facebook go that route.
This is an attempt to predict what Facebook Inc. do with the Diem Cryptocurrency.
What do you think they should or will do?