The CEO of Facebook, Mark Zuckerberg has never been a fan of the new technology. This can be traced back to the beginning when the new technology was trying to gain popularity and maintain its ground in the current system. Starting from day 1, the CEO had ever wished that nothing like cryptocurrencies ever existed.
When Bitcoin came out at first, he was seen making comments Like, Bitcoin, crypto generally will not last, but now that he had seen why crypto still survives despite all the misconception views from different people including analysts and investors, he is now considering how best to dance to the rhythm of the music.
Currently, the facebook team have been working hard to see if their business can be runned using the pattern of crypto. This can deduced from the news published few months back which tries to portray the intention of Facebook’s CEO to issue a new token to the social network platform.
The worst of it all happened in January, this year when facebook banned all cryptocurrency related ad’s claiming it was designed to prevent “misleading or deceptive promotional practices built around the promotion of financial products and services”. This was the new policy facebook passed earlier this year thinking that it will end it all, but now seeing that it has only helped to hype the new technology, the management decided to reverse the ban placed on promoting cryptocurrency ad’s on their platform. It’s revised prohibited products and services policy now states:
“Starting June 26, we’ll […] allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings”.
With this new policy, advertisers are expected to submit an application to the management so as to check the eligibility of the advertising product and group.
Whether facebook reverse its policy or not, the new technology will still live. They(facebook) shouldn’t think that we are not aware of their intentions to introduce the social network platform to the new technology on board using it as cover up to carry out its selfish intention of centralization.