The Facebook Coin could generate 19 Billion Dollars according to Barclays!
The Facebook Coin is coming as we talked about in a previous article.
Barclays, a Wall Street firm, sees great potential for Facebook if its secret cryptocurrency plan works.
According to Ross Sandler, the company’s Internet analyst, the introduction of the aforementioned “Facebook Coin” could generate additional income of at least $19 Billion for the social media giant.
Ross Sandler of Barclays also predicts that the successful launch of the new currency will “change the story” of the company’s stock.
According to his estimates, he estimates that the efforts of Facebook could generate additional profits of between 3 and 19 Billion Dollars in 2021.
According to the Barclays analyst, any attempt by Facebook to increase non-advertising revenues, especially those that do not abuse users’ privacy, will likely be very well received by shareholders.
Barclays primarily based its earnings estimates on Facebook from Google’s digital distribution service, which is also the legitimate application store of the Android-powered machine.
“Google Play”, as it is called, now generates a profit of $ 6 per user.
And given that Facebook could generate something similar with its three billion customers expected in 2021.
The analyst said FB Coin can be a single-use digital asset similar to Venmo and other digital assets.
“Based on our checks, the first version of Facebook Coin can be a single-use currency for micropayments and national p2p money transfer (in the country), very similar to the original 2010 and Venmo credits today. hui. ”
This estimate would give more weight to rumors that Facebook is preparing a cryptocurrency for global payments that can easily be linked via its “WhatsApp” messenger, according to Bloomberg and The Contemporary York Situations.
Facebook did not publicly comment on these experiences.
It is worth mentioning that Facebook debuted with its own virtual currency called “Facebook Credits” in 2010, but that the initiative faced an obstacle because of the cost of exchange that affected the profitability of the company.
Now, the network giant, which also has Instagram and WhatsApp, will revitalize the idea by introducing cryptocurrency for micropayments and domestic remittances.
In this sense, the future of Facebook is similar to the reality of WeChat, the super ubiquitous application in China, which has more than a billion users developed by Tencent Holdings.
WeChat’s omnipotence in China focuses on its core messaging and social networking capabilities, which are only available to WeChat’s friends.
But the app also offers a wide range of mini-programs, including digital payments, which allow users to pay for shopping, order a taxi, order meals, pay utility bills, etc…
The greatest gift that Satoshi Nakamoto offered humanity was to make blockchain an open source project because he did not want to hide anything.
However, this same gift, accessible to all, has generated this endless madness of “infinite tokens” from which great projects and great failures will be realized.
The good thing about this possible Facebook Coin is that it will allow many people who do not understand crypto-currencies to enter this space, it will be a kind of mass adoption for crypto.
Even with this, Facebook with a centralized private Blockchain is different from real decentralization with adoption of Bitcoin, decentralization means having very special consumers.
This is why we will have to see how the crypto community will judge this Facebook token.
Even so, let’s imagine that if at any given time this currency could be used by more than 2 billion people, who may not understand cryptos and certainly do not care much about what it really is.
This would allow adoption of cryptocurrency, only a powerful and known actor like Facebook can push the public to adopt crypto.
Facebook understands it and prepares its crypto project in the greatest secrecy, with of course a lucrative goal for its shareholders as explained in this article and by Barclays estimates.
In the end, the Facebook Coin might attract many new people in cryptocurrency and Bitcoin.
If Facebook can take a financial profit, it’s quite normal, let’s just hope that the Facebook Coin will not become the main world cryptocurrency instead of Bitcoin which is a real decentralized cryptocurrency and not controlled by a single company like Facebook!
The future will tell as many companies want to have a piece of the crypto cake!
