Polychain Capital chief executive officer Olaf Carlson-Wee thinks Facebook would be smart to build its stablecoin on a public, open blockchain infrastructure. Carlson-Wee conveyed his comments at the agreement 2019 board "To the Moon and Back" on May 15.
Carlson-Wee clarified that the blockchain stage he's relating is one like bitcoin's, amid which the maker surrenders command over the stage they structured. He contends that such a preparation would be useful to the internet based life mammoth, saying:
“I assume given all the issues that Facebook has had with policing their platform and things like that, I believe that the strategic move for Facebook would truly be to make public infrastructure. which public infrastructure may well be incorporated onto all the Facebook platforms, which in fact are proprietary. However, that public infrastructure, if they don’t try and own it, i believe that’s wherever they'll have the most success.”
Carlson-Wee notes that a further profit would be that by relinquishing control over the platform, they conjointly avoid liability for controversy that takes place on the platform; he compares the situation to the creation of the internet:
“The folks that created the web aren’t to blame for everything that’s said on the internet.”
The CEO continued to share a broader vision for cryptocurrencies, during which they're used as a common and accessible store of wealth. He stated:
“If big technology firms wish to place their resources toward building public peer-to-peer crypto infrastructure, I’d be joyous.”
As antecedently reported by Top Market Group, an anonymous source told Bloomberg that Facebook can roll out its cryptocurrency, supposedly a stablecoin, a while within the third quarter of 2019. Sources at the Wall Street Journal state that Facebook is looking for speculations up to $1 billion to subsidize the up and coming "FB Coin."
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