So Facebook CEO, Mark Zuckerburg posted his New Years "challenge" and it included a pledge to taking Facebook back to it's roots by decentralising and giving 'power to the people'.
In today's vlog I give my thoughts on Zuckerburg's comments.
Summary
If Zuckerburg is serious about decentralising Facebook he should consider (1) leveraging the immutability of the blockchain to make his platform censorship resistant (this is one of people's biggest gripes) and (2) looking at a model (like STEEM) to reward/ incentivise the people that post and provide value on Facebook (as decided by the community) over profits to shareholders. Blockchain's are all about removing the middlemen that hold the power and the purse-strings. However I suspect even though we're into the New Year, turkey's still won't be voting for Christmas!
If Facebook integrates a cryptocurrency into the platform as merely an add-on to enable user to tip or transact with each other that would be 'meh moment' imo as it would do nothing to address Facebook centralisation. However this kind of move would be typical of the superficial nonsense that will create a major buzz in the space. Currently people are more concerned with "going to the moon" then making a real difference right here on earth! I don't think this sentiment is going to change any time soon.
Whichever route Facebook goes down, any serious exploration of the issues will involve Zuckerburg looking at STEEM/ DPOS . As this is an example of how cryptocurrencies/ the blockchain can be used at scale to fuel a platform the size of Facebook.