While yesterday’s announcement does not mean that the rumors are necessarily true, it is clear that Facebook is aware of the potential of crypto projects.
After the implementation of the initial ban period on their platform for crypto project advertisements, they are now reversing that ban, altering the situation. Taking this into account, it is very likely that they are considering additional ways to enter more directly into the crypto market.
Acquiring Coinbase would be a great entry point because it is one of the key reference platforms for digital currency exchange in the world. I firmly believe that we will hear more rumors and see other tech giants taking part in the blockchain.
-Orvium, Manuel Martin
This almost sums it up why Facebook is interested in buying Coinbase.
Facebook’s Interest in Blockchain:
One of the most interesting questions in technology right now is about centralization vs. decentralization
Mark Zuckerberg knows the potential behind decentralized currencies also,
David Marcus, head of Messenger, is starting a small blockchain group tells alot about the companies interest in the lastest Blockchain Tech and cryptocurrencies as such.
What’s for us in this deal?
If Facebook does indeed make the move to acquire Coinbase, it will allow consumers to be more aware of the cryptocurrency and blockchain space.
Further, Facebook’s takes over Coinbase however, could they make changes that would see Ripple XRP listed on the exchange? (Xrp Fans, comment your views! ) Moreover, if Facebook takes over Coinbase and decide to make their own cryptocurrency, would it become a rival of Ripple XRP and other popular cryptos in the market right now hence giving it a head start.
Acquiring Coinbase would significantly boost Facebook’s value, and utility, as well as help restore lost credibility among users and add some much-needed legitimacy to the crypto space.but as of now, everything is still in rumor mode, which means nothing is finalized, but this could be a big step for the cryptocurrency and blockchain space.