
Ask HN: Why Facebook is the only company that creates their own cryptocurrency? - Biba89
Why salesforce or Asana or any other big b2b or b2c don’t create their crypto?
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randomvectors
Even in the most optimistic case, what's about to happen with Facebook's
cryptocurrency will border on a straight up scam. Which is fitting both for
their business model, their image and for the broader cryptocurrency space.

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verdverm
Why do you expect a scam? Stable Coin on a permissioned blockchain is what it
looks to be

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randomvectors
Because Facebook haven't demonstrated any integrity whatsoever in all of their
history as a company.

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el_dev_hell
> Why salesforce or Asana or any other big b2b or b2c don’t create their
> crypto?

A better question would be: why would Salesforce or Asana create their own
cryptocurrency?

Cryptocurrency (and blockchain) are just tools. They are not needed in every
business/product. A new fancy hammer has been invented. It's useless/dangerous
if I actually need a screwdriver.

I remember similar posts about Mongo DB a few years ago in web development
circles.

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mimixco
Because, other than a universal cryptocurrency like Bitcoin which already
exists, there is no real use case for the fully distributed blockchain. What
FB is making is a centrally controlled digital coin, no different from Beanz,
an early attempt at the same thing. This is just a play by FB to get into
fintech and try to take away some payments business from PayPal. There isn't
really anything decentralized or crypto about it.

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verdverm
Agree, getting a pay button on the FB platform will lower friction. Calling it
crypto will likely boost adoption, though fortunately it looks to be a stable
coin

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vikramkr
Lots if smaller companies have their own coins and did ICOs, Facebook is
launching theirs now because they want to. Them wanting to do the thing is
pretty much the driving force behind all of this. If it goes well, those other
companies might want to as well. Though an asana coin would be the weirdest
thing - task management on the blockchain!

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gesman
Crypto for FB is an elaborate tracking system that could contribute to FB ad
revenue.

For smaller companies it would be hard to gain any traction.

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verdverm
I think you missed JP Coin, by JP Morgan Chase.

Also, they are BS and unnecessary for the most part

