Facebook has suddenly made an about face with their ban on cryptocurrency ads on theirs website at least to a degree. While this is not shocking at least to some ( I feel that Facebook would eventually change this policy when it was announced just not this quickly.) most are wondering why the sudden change of heart?
This is why Facebook has changed their tune they have come to realize what a large market cryptocurrencies are becoming and they don't want to miss out on their chance to get in on the action. While I do not fault them for this action it does open some other doors that they will have to answer in the coming months. Such as will Facebook launch their own coin- if they do that I would personally jump on that coin mostly due to their user base being in the billions. We already know that cryptocurrency thrive with younger generations if Facebook brings a coin that they can market to all of their users and even a quarter of those users look into those coins they will be a sought after commodity.
On the flip side do we want Facebook involved in crypto at all? It's not so far removed from their Cambridge Analytica scandal that they could do more harm then good to the world of cryptocurrency, with the fact that so many accounts were harvested unknowningly could the same situation happen with their involmemt in a company such as coinbase?
https://www.theguardian.com/news/2018/mar/17/cambridge-analytica-facebook-influence-us-election
Thirdly I would like to see what they could bring to coinbase that would improve a service that so many newbies to cryptocurrency use to help get their feet wet in this growing field. Could they bring changes that would validate the field of crytpocurrencies or would they just find a way to benefit of those that have little knowledge of what they are getting into. Along with their safety measures would our information actually be secure?
It's simple to have ones account hacked on Facebook through odd links sent by friends or fake accounts trying to add you. What's to stop these same people should Facebook obtain a company like coinbase of hacking into user accounta and draining them dry?
Facebook and cryptocurrency is a union we should keep an eye out for many reason not all of them good but not all of them bad as well.