Facebook is currently a worldwide sensation when it comes to social media interactions, while Coinbase has been a forefront in cryptocurrency exchange. Thus if Facebook does acquire it will lead to a worldwide adoption and awareness of cryptocurrencies.
Rumours may be true as the last week Facebook has reversed its ban on Cryptocurrency advertisements. There is definetly something cooking in Mark Zuckerberg’s mind in terms of blockchain and cryptocurrency.
In a published blog post, Facebook Product Management Director Rob Leathern said the policy and will now “allow ads that promote cryptocurrency and related content from pre-approved advertisers.”
The reversal by Facebook was applauded by big weights in technology and business. UK managing director of eToro, Iqbal
The move to amend the blanket ban was widely applauded by significant players within the industry, with the likes of UK managing director of eToro, Iqbal Gandham saying
“Customer safety and education about the market should remain a priority, but a blanket ban is a poor approach to new ideas.”
Facebook also has a Blockchain division which is headed by Facebook Messenger’s ex head, David Marcus. Now another interesting point is David Marcus is one of Coinbase’s board members. Sounds like a pre plan of all sorts, doesn’t it?
Now the only question is if Coinbase would accept such an offer, and if yes how much would the price tags gallop upto!
Mark Zuckerberg has been known to make comments about decentralized currencies, so this would not come as such a big surprise.
Key Blockchain expert and co-founder at Orvium, Manuel Martin said;
“While yesterday’s announcement does not mean that the rumors are necessarily true, it is clear that Facebook is aware of the potential of crypto projects.
After the implementation of the initial ban period on their platform for crypto project advertisements, they are now reversing that ban, altering the situation. Taking this into account, it is very likely that they are considering additional ways to enter more directly into the crypto market.
Acquiring Coinbase would be a great entry point because it is one of the key reference platforms for digital currency exchange in the world. I firmly believe that we will hear more rumors and see other tech giants taking part in the blockchain.”
It’ll be interesting what plays out in July in terms of Facebook and its Blockchain mission!