Do you think facebook coin can overcome bitcoin?
‘Facebook Coin’ Could Generate Billions in Revenue: Barclays Analyst
Facebook’s reported stablecoin project could be a significant moneymaker for the social media giant, according to Barclays analyst Ross Sandler.
In a note to investors first reported by CNBC and later obtained by CoinDesk, Sandler says Facebook’s cryptocurrency efforts could yield anywhere from $3 billion to $19 billion in additional revenue by 2021. To put that estimate in context, the Menlo Park, California, company brought in $40.6 billion in total revenue in 2017, with $39.9 billion from advertising.
However, the analysis hinges on whether “Facebook Coin proves successful in reinvigorating FB’s micro-payment strategy for digital content distribution,” Sandler wrote.
Sandler also sees two primary challenges for Facebook achieving its crypto goals: “demonstrating a value prop for users above what is available today in payments” and overcoming consumers’ “trust issues after 2018’s problems.”
In an apparent bid to account for said trust issues, CEO Mark Zuckerberg issued a lengthy post last week calling for Facebook to become more privacy-oriented in the years ahead. While “cryptocurrency” isn’t mentioned, payments and encryption are frequently invoked
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