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Did you read that correctly? Yes, you did. Although the social media giant has in the past been staunchly opposed to cryptocurrencies and ICOs, they are not in the process of creating their own cryptocurrency.
Along with Twitter, Google, and a series of other online companies, Facebook has banned the advertisement of ICOs and cryptocurrencies on their platform. The ban was understandable, to an extent, given the many shady money-laundering schemes dressed up as ICOs. Whether the ban will remain in place after the launch of Facebook’s own cryptocurrency, however, remains to be seen.
From foe to fan
An article by Cheddar revealed the plans for rolling out a Facebook blockchain project. The project is still being kept under wraps, but the social media platform has allegedly been researching blockchain technology for a year now.
Up until now, the only person working on Facebook’s blockchain project has been Morgan Beller. Now, however, the vice president of Facebook Messenger has announced that he will be leading an entire team dedicated to integrating blockchain technology into the social media platform.
The vice president of Facebook Messenger, David Marcus, will be leaving the Messenger team to work on the blockchain project full-time. He will be joined by James Everingham, who is Instagram’s VP of Engineering, and Kevin Weil, who is Instagram’s VP of Product. Marcus will be replaced by Stan Chudnovsky, who is Facebook Messenger’s Head of Product.
David Marcus is no stranger to the cryptocurrency space, either. He recently joined the board of cryptocurrency exchange Coinbase.
The purpose remains a mystery
Although quite a few outlets have covered the blockchain plans, very few have been able to gather any concrete details about what the purpose is. Facebook is known for showcasing their ten-year roadmap at various corporate events, but the blockchain project has not been included.
What is known is that he blockchain-integration will not be limited to just one application. What is also known is that Facebook is not planning on creating an ICO (initial coin offering) for their blockchain project.
It has been reported that Facebook most likely will be using blockchain technology to verify the identity of people using their platform, as well as encrypt the data being uploaded to the platform.
Potential crypto-acquisition
Some are speculating on whether Facebook will be looking to acquire a cryptocurrency firm to assist them in their blockchain project. Given the vast number of talents and resources in the cryptocurrency space, it would not be a bad move on Facebook’s part.
Given that Facebook’s project will most likely not involve actual a currency, any potential acquisition will be related to the apps they are in the process of developing. Facebook has attempted to create a currency in the past, which failed.
Fans will have to wait
Although the headlines are generating a lot of buzz, fans of cryptocurrency and blockchain projects will, unfortunately, have to cool their heels. Although Facebook will be investing much more in their blockchain project, it will take years before we see the fruits of their labor. Until then, there will most likely be more information spilled by the organization.
What do you think Facebook’s blockchain project will be about? Leave your thoughts in the comments section below!
Triwer Review
It took me two attempts to order my office desk. The first attempt failed, because I did not pay attention to the name of the delivery company. They are terrible, and consistently fail to deliver parcels. Not only did they not deliver it, but they sent it to a storage unit an hour’s drive from where it was supposed to be delivered. Needless to say, I’m never going to order anything that is delivered by them again. But this is not about my online orders. This is about the future of online orders.
As more and more high street shops close for good, people are getting used to ordering everything online. It’s quick and easy for the customers, and it saves businesses a lot of money in various expenses related to running a physical shop. This means that the online shopping and delivery model is set to grow year on year. So what does this have to do with blockchain? Good question. Let us have a look at Triwer.
What is Triwer?
Triwer is a delivery service platform, and does all the same things as your average courier service – except it does much more than that. Triwer offers its users to compare prices for delivery, and choose between standard and express delivery services. Users will be able to create an online profile, where they can fill in their details, such as address and contact information. This profile can then be used on multiple online shops, such as Amazon and eBay. The platform will also allows users to choose a pickup delivery point, should they not be home to collect their parcel. They will also be able to track the delivery, communicate with the driver, and monitor their agreements on the Triwer platform.
How does it work?
The Triwer platform is based on blockchain technology, which means that everything is decentralised. Agreements between users and delivery service providers will be facilitated by smart contracts and the native Triwer token TRW. Users will have a Triwer app on their smartphone or tablet, and will be able to control anything related to their delivery via the app. Once a shipment has been ordered, it will be recorded on the Ethereal blockchain, and a smart contract will be created. The service providers delivering the parcels will all consist of experienced drivers that know the markets they are in. Finally, there is the green aspect of Triwer. The platform will be integrated with PickPack, which means that users can receive paperless deliveries. The Triwer team wants to invest in low emission transportation, and pride themselves on reducing carbon emissions.
What are the features?
The platform will offer more than simply deliveries and tracking. Both sender and receiver will have more control over what happens to the parcel. A diverse range of transportation will ensure that users not only get a good deal on price, but also that the delivery itself will be safer and involve less risk of damaged parcels. Should anything happen to the parcel, users can rest assured that everything is insured for the full value of the item. The platform will also have a customer service phone support, as well as live chat. Everything will be done with the environment in mind, so carbon emissions are kept at a minimum and paper is rarely used for packaging.
What about the token?
The TRW token will be based on the ER20 network, and is a utility token. The TRW will be the native currency used on the Triwer platform, and is available during the crowd token sale. The total limit for the TRW tokens will be 1,000,000,000, of which 375,000,000 will be for sale. If you are looking to invest, $0.08 will get you one TRW token. If you don’t want to pay in fiat money, Triwer is happy to accept your Ethereum and Bitcoin as well.
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Decoin Review
Are you trading in cryptocurrencies? If so, you are probably familiar with more than one cryptocurrency exchange. Like traditional exchanges, cryptocurrency exchanges make their money from various fees and commission derived from the cryptocurrencies being traded on their platform. Given the rapidly growing community of cryptocurrency enthusiasts, this is a booming business. But what if you, as a cryptocurrency trader, could make back the money it costs you to trade on the exchange?
What is DECOIN?
DECOIN is a cryptocurrency exchange platform. Like other ICOs, the DECOIN platform i based on blockchain technology, which means that it is completely decentralized and fully secure. This makes DECOIN stand out from the crowd of numerous cryptocurrency exchanges out there.
The platform allows users to trade in blockchain, on the blockchain. Talk about blockchain-ception. In addition to their blockchain-based exchange, the team behind DECOIN also aims to create a world-renowned online customer service that will help facilitate and spread the use of cryptocurrency and other projects based on blockchain technology. But the real icing on the cake is the money aspect of DECOIN.
The team describes it as a “profit sharing exchange”, which means that anyone trading on the platform will benefit from the profit the exchange makes. Regardless of what cryptocurrencies you are trading in, any fees and commission will find its way back to your pockets. Furthermore, DECOIN wants to give you an extra incentive to use their own DECOIN tokens. By holding DTEP tokens in your online wallet, users will be able to get 6.2% interest per year. All these benefits are reflected in the name the team has chosen for their project: DECOIN. According to their website, it stands for ”the coin of the people”. It is easy to see why. By sharing their profits with traders, they are in effect making users of their platform their business partners.
How does it work?
The DECOIN team have created an “open source peer to peer digital ecosystem that encompasses its own proprietary digital currency”. This currency is called DTEP, and as mentioned above, users can benefit from using DTEP tokens by making an interest. The exchange and trading platform itself is called D-TEP, and the platform is what redistributes profits to anyone holding DECOIN in their wallets. Part of these profits will also go to the D-TEP crypto index, which is called DCI for short. To ensure that everything runs smoothly, the DECOIN platform will be using a Proof of Stake (POS) blockchain protocol.
To summarize
DECOIN is an ICO that is working on the following:
- Creating an accessible, scalable, secure and commercial blockchain-based cryptocurrency exchange platform
- Share the profits derived fro transaction fees, commissions, and interest with its users
- Form an online customer service to assist users and help facilitate the trades
- Let DECOIN holders profit further by providing them with 6.2% interest per annum
- Provide users with a D-TEP credit card that will allow them to access their profits
- Let users of their platform be their business partners rather than their customers
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eCoinomic Review
One of the main criticisms that have been leveled against cryptocurrencies by the likes of Warren Buffett is that they have no intrinsic value or utility. They are essentially seen as symbols rather than assets. One of the symptoms of this lack of intrinsic value is the volatility of the cryptocurrency market.
Many coins and tokens rise and fall in value rapidly and frequently. In response to this criticism and volatility, several projects have launched asset-backed cryptocurrencies. This means that cryptocurrencies are backed by diamonds, gold, oil, or any other traditional asset that can be traded on the international market.
Still, cryptocurrencies are seen by many people outside of the crypto-community as inferior to fiat money. That makes the eCoinomic project so much more interesting, as this ICO flips the entire narrative on its head. With eCoinomic, fiat money loans are backed by cryptocurrencies as a security – not the other way around.
What is eCOINOMIC?
The team behind this ICO have taken a look at the market for secure loans and found a way to utilize blockchain technology to make it more accessible to holders of cryptocurrencies. Currently, holders of cryptocurrencies are often restricted in their ability to spend their money, as only a select few places accept tokens as legal tender. However, many financial institutions are now in the process of researching and developing their own blockchain-based platforms and services, which will ultimately make cryptocurrencies more mainstream. eCoinomic wants to capitalize on this development, by opening up the loans market to users of cryptocurrencies.
Digital assets offer a new low-risk instrument with high profitability that can be utilized by financial institutions. This new project is described as being ideal for family offices and other mortgage providers. The team behind the project have been working together since 2001 and is made up of Fintech experts who have decades of collective experience in software development.
How does it work?
The eCoinomic platform will allow holders of cryptocurrencies to find lenders of fiat money, and take a loan in fiat money by using their cryptocurrencies as a security for the loan. The loan agreement between the two parties will be using a smart contract to provide them with maximum control, transparency, and flexibility. The benefit for the loan-takers is that they can both use their cryptocurrency tokens to access fiat money, and still technically own their tokens. If the value of the tokens rises during the course of the loan period, the loan-takers will still profit. Similarly, the lenders will be able to rest assured that the fiat money they have lent out is backed by cryptocurrencies of a similar value.
The majority of the tokens (81%) sold during the ICO will be used by eCoinomic as a reserve, which will cover any disputes or accidents. On top of all these benefits, the blockchain-based platform will of course also enjoy the added benefit of operating on a decentralized network that protects the data and anonymity of its users.
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