Binance Vs Facebook
Each time there are more and more events and births of new alternatives where we can all participate, of course that will also depend on the emerging market that comes out of these initiatives.
Binance comes into the game, but this time it will be another one that plays to compete against Facebook.
Venus vs Libra
We know that Binance as an exchange is well positioned by its large number of users in the world and that gives rise to launch an ecosystem of currencies, of this type they have good existing public chain technology and global compliance measures already established.
To enter this new competition they must definitely take advantage of all their technological potential, the existing technical knowledge as well as the personnel dedicated to this.
Bincance in recent news mention that they seek alliances:
We are looking for alliances with governments, corporations, technology companies and other cryptomoney and blockchain projects in order to develop a new monetary ecosystem that empowers both developed and developing countries.
"But it will be true that those who will benefit? the developed countries or the developing countries, I ask myself that question after reading this statement by Binance".
Binance as an excellent exchange seeks for the project the best way to build a new open alliance and a sustainable community, will be a way to recruit partners who exert influence on a global scale.
It goes without saying that Binance will use all its arsenal and all its existing infrastructure, but for a long time now they have been running some stablecoins that are linked to native assets, and as you know they also include a stablecoin linked to Bitcoin (BTCB) and the stablecoin Binance BGBP (BGBP) linked to the British pound.
Thanks to their extensive experience with various regulatory regimes they were able to consolidate a good compliance risk control system, which will help them build a multidimensional cooperation network for their Venus project.
But what about Facebook, the titan of social networks, to launch a stablecoin, Libra, that would drive a global cryptopaid network integrated into the company's three applications: WhatsApp, Messenger and Instagram. It's long been announced that facebook entered the game and is tuning its engines with Libra and its wallet Calibra.
I think that there is much expectation Libra and facebook has not started with its great media power in its platform but that is about to happen and we all know the great reach that platform has at world level, of course with some exceptions of countries where it is blocked, however for them does not present any problem equal its reach is very large, as mentioned is a Titan in social networks.
A lot of questions arise but I'll only leave two:
- You think Binance will be a competition for facebook, what do you think?
- That looks for the main exchange of cryptomedas Binance with this release its open blockchain, "Venus ".
Project Hope Venezuela is an initiative created to grow.
You See more about it at:
@cyberspacegod, @achim03, @lanzjoseg, @fucho80, @neavvy, @juanmolina, @jadams2k18, @machnbirdsparo, @honarparvar, @guruvaj, @alokkumar121, @edgarare1, @flash07, @djennyfloro, @culgin, @spirajn, @gandhibaba, @reverseacid.
Thanks for visiting, I appreciate your opinion.
"In your constant evolution".
[email protected]
eSteem.app | 👨💻GitHub | 📺YouTube
✍🏻 Telegram | 💬Discord | Patreon
"In your constant evolution".
[email protected]
eSteem.app | 👨💻GitHub | 📺YouTube✍🏻
Telegram | 💬Discord | Patreon
Thanks for mentioning eSteem app. Kindly join our Discord or Telegram channel for more benefits and offers on eSteem, don't miss our amazing updates.
Follow @esteemapp as well!
I saw the announcement from Binance as well and immediately shared it with a few of my friends who are into crypto. Fact is Binance is still rather early in this versus what Facebook Libra had proposed.
When Binance finally firms up the details, I am sure they will be going through the same level of scrutiny by regulators. Even though Binance is now HQ in Malta, they still require partners from US, Europe and China to get this project adopted. And the governments in these places won't go easy on them.
That being said, it's still an interesting development
Posted using Partiko Android
Hi @culgin
Of course you are absolutely right, that is why the ads are in the search for sponsors, unlike FAcebook that already has them.
Again we must continue waiting for the events.
Dear @culgin
Binance has one huge advantage: trust. Libra has everything else. Money, power, reach, userbase and again money.
I was wondering ... wouldn't you agree that Libra would do much better if this association would be lead by some more reputable corporation? Facebook is the worst option to be a face of this project.
Cheers, Piotr
Trust issues aside, I think Facebook has the widest reach and strong technical competency to make this a reality.
When we consider trust issues, I don't think any company can be fully trusted for such projects. When some don't even trust the government, why should they trust any company? That's why decentralization is such an appealing concept to many
Posted using Partiko Android
@lanzjoseg has set 1.500 STEEM bounty on this post!
Bounties let you earn rewards without the need for Steem Power. Go here to learn how bounties work.
Earn the bounty by commenting what you think the bounty creator wants to know from you.
Find more bounties here and become a bounty hunter.
Happy Rewards Hunting!
Congratulations to the following winner(s) of the bounty!
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Dear @lanzjoseg
Such an interesting comparison. One that I could personally never think of.
Binance has one huge advantage: trust. Libra has everything else. Money, power, reach, userbase and again money.
I was wondering ... wouldn't you agree that Libra would do much better if this association would be lead by some more reputable corporation? Facebook is the worst option to be a face of this project.
upvoted already :)
Yours, Piotr
Dear @crypto.piotr
Binance has the advantage, in that I share your opinion, however it is not so conomcina and although it has a large number of users, Facebook in that particular earns it. For something very simple, not everyone has access to cryptos, but if everyone has access to Facebook.
There is a great possibility that this was so another corporation of better renown, but at this time I would not know what to say, and that can also be pure speculation, since Facebook has its well structured plan, they are like politicians have a message that It is aimed at a very specific group and they (facebook) know that this target is the largest.
towards that majority group they point their entire arsenal of publicity.
Thank you for visiting my post, I send you a big hug
Great publication my fiend!
And that's I think the biggest advantage of Facebook. Also, they are experts if it comes to massive adoption and making things easy. Something that may seem easy, but as the example of Steem shows, things may be really complicated.
Hi @neavvy
Yes. Facebook has many things in its favor, and what it has most is media power. on that is based its power and its reach.
Binance is the main element that can improve blockchain technology. If they find strong partners, they can do great things. We trust Binance.
Hi @sipahikara
I particularly trust Binance, and that would be great if I can recruit good partners.
@lanzjoseg, In my opinion Binance can excel effectively and this competiton and journey will be interesting and exciting too.
So, it has begun... the corporate wars for cryptocurrency dominance. It was inevitable, from the very beginning.
Facebook is far more powerful... it is likely to win.
But when those projects became established, the next step is suffocating the free cryptocurrencies. We'll see that, we'll suffer that.
Hello dear professor @lanzjoseg, good analysis of the situation.
As you expressed it well at the beginning of your article, there are many initiatives that are emerging in this crypto market and all companies that are created with the potential to cause an impact and generate great wealth with cryptocurrencies will launch projects like these, if it is a competition for facebook time will tell, but in my opinion, that more projects like these arise is multiplication of opportunities for everyone.
Thanks brother for sharing.
I am not sold that Binance can compete with FB. Maybe in the short term, but FB would simply weight the down unless their product is good enough. As an exchange Binance has a shot. And they are right to diversify, but it will not be them to take out FB.
Interesting idea however there I say Binance and Facebook will never be competing in the same market. By and large, Facebook is focused on social media people, Binance is focused more on currency trade. What I can see happening is Facebook potentially buying Binance And then merging everything together much like what it did with Instagram... I do not see the two things competing with each other for the same market, however.
These are just my thoughts :D
I think a lot of people are against Facebook this days which is an advantage for Binance, but Facebook has money and a lot of connections. I believe Binance can compete if they get the necessary support