Facebook's recent announcement that they will "look into cryptocurrencies" reminded me when airlines first started issuing frequent-flyer miles.
Read the announcement here -> https://www.cnbc.com/2018/01/05/mark-zuckerberg-says-facebook-will-look-into-cryptocurrency.html
If you think about it, those miles are altcoins too. They have value, they can be exchanged for many things (depends on the airline, of course), can be transferred (for a fee), and so on. They aren't divisible, and some may say they are not durable, but they definitely have some traits of the fiat currencies that we know.
Altcoins resemble fiat currencies way closer than frequent-flyer miles do. And now, companies are finding out that they can create their own coins or tokens and benefit from it. If a company with a large customer base, and lots of "transactions" amongst them can force users to utilize its new coin, such company can look into a new, and massive, profit pool.
Hello, Facebook. I look forward to your new venture into the financial services world! Payments, loans, crdit products, will be just the beginning. Other FAANGS will follow.
