From trading crypto on messenger to tokenized securities, we are getting many steps closer to more widespread adoption
|genesis Block||Jan 9, 2019|
Facebook has recently been hit with alot of flack in the last year about trust in data, and recently, their workplace culture has recently hit the news about being a “cult like” place where people need to act like they are happy when really not and being scrutinized for taking too much time off. There’s also been situations where peer reviews amongst each other have been gamed by getting reviewed by friends. Read more here>> . But this is a common thing among the greatest companies and even Amazon has received a reputation like this. So no big surprise.
Along with the tough times, Facebook is still one of the most important companies to watch. They have always bet big and invested in technology from wifi broadcasting drones with the hopes of free internet to VR. That’s why they have been aggressive about focusing on blockchain technologies. With their new stablecoin that they were looking to build, this opens access to the billions of users that they have on watsapp, and also opens an opportunity to even have their own internal currency that users can use separately within their own ecosystem as both a store of value, a method for fractional ownership, and a method of utility.
Helping Facebook - Crypto already on the messenger
A delightful surprise this week was a company this week by the name of Lite.im . They are integrated into the facebook messenger and are helping but also jumping ahead of what some of the future visions were to be for Facebook. They are helping millions be able to send and receive crypto on messenger. With each of these updates and the faster and larger adoption, there is larger initiative along the way to be make the adoption of digital currencies are larger widespread norm.
Helping Facebook - Getting their securities on the blockchain
As many of you may know the DX.exchange (a European Union-regulated cryptocurrency trading platform based in Estonia) went live 2 days ago. This allows tokenized stocks backed by the shares of 10 of the biggest tech companies listed on the Nasdaq — Apple, Amazon, Baidu, Facebook, Google, Intel, Microsoft, Netflix, Nvidia, and Tesla.
As noted by cryptovest “The digital trading platform uses Nasdaq’s Financial Information Exchange (FIX) protocol. The shares will be bought via MPS MarketPlace Securities, which is regulated by the Cyprus Securities and Exchange Commission. The stock will be stored in an account separate from any MPS internal funds or usage.”
Bitcoin exchange also notes “All of the stocks on the DX Exchange platform are backed 1:1 by shares in these companies. In other words, each ERC20 token representing an AAPL share corresponds to a real AAPL share. DX Exchange has partnered with a Cyprus-based intermediary called MPS MarketPlace Securities Ltd. DX Exchange is careful to note that the stocks owned by this intermediary are held in a segregated account – so if something happens to MPS MarketPlace Securities, the stocks wouldn’t be at risk.
It’s also important to note that the stocks cannot be purchased directly with cryptocurrencies on DX Exchange. There’s no AAPL/XRP pair, for example, or a NFLX/BTC pair. You must buy the stocks with US Dollars.”