Corporate digital currencies showed many useful features at this stage of the cryptocurrency industry development.
Bitcoin-enthusiast Ari Paul believes that the year 2019 with a high degree of probability can be called the year “cryptocurrency intranet”, that is, the launch of various corporate cryptocurrencies working on non-decentralized blockchains .
Indeed, we recently heard that JPM Coin from JP Morgan is appearing, and FacebookCoin is expected to be released from Facebook.
1 / It is a crypto intranet (or permissioned blockchains, or bankcoins and corporatecoins),
– Ari Paul (@AriDavidPaul) March 1, 2019
Ari Paul, who in mid-February did not see any benefit from such digital assets, now believes that they are important: thanks to them, the public will become more interested in the phenomenon of “real cryptocurrencies”.
As Paul notes, “to us, supporters of decentralized cryptocurrencies, such assets are not interesting, but for Bitcoin and its“ colleagues ”this is really cool stuff.”
3 / But … .it's awesome for bitcoin and other decentralized permissionless cryptocurrencies. Things like Facebookcoin increase global interest dramatically. Consider how are your stores located in NYC. They're not hurt by competition, they benefit.
– Ari Paul (@AriDavidPaul) March 1, 2019
As the analyst explains, “assets such as Facebookcoin will significantly increase the global interest in decentralized cryptocurrencies.”
He compares this to when two carpet stores competing with each other appear in New York. Paul is sure that in the end Bitcoin and his “brothers” will benefit from such competition.
Paul explains:
“Imagine that, say, 300 million people on Facebook will start using Facebookcoin, one out of ten will be interested in bitcoins as a result. This will double the number of Bitcoin users, increase the spread of this cryptocurrency, will have the effect of networking, and all this will increase the capitalization of the blockchain cryptocurrency. ”
But not only this will be a plus:
“Assets such as Facebookcoin will create a whole ecosystem of digital services and the appropriate infrastructure — something that can be used to a great extent in the future to work with decentralized cryptocurrencies.”
Finally, Paul notices that the cryptocurrency community will save resources on telling people:
“What is bitcoin and why is it an interesting phenomenon: now we will receive large groups of interested people who will themselves look for information, why decentralized cryptocurrencies are better than centralized digital assets”.
Publication date 06/03/2019
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