Facebook has revised its advertising guidelines with regard to crypto-currencies and Blockchain, so that crypto-advertising, with the exception of ICOs and binary options, is again permitted. The message in the social media to many rumors, as some see in this decision a lot more than only a small change in the advertising policy. How would you classify the rumors, and what are the implications on the crypto market, and whose Users you might have?
The behavior of Facebook was and is quite understandable. To the mass of MIS-ICO-advertising, including the crypto-pyramid schemes counter has moved to adopt the Internet giant in January of this year, the ripcord, and temporarily, a General advertising ban for the entire crypto-Economy. The had joined a short time later, Google, Twitter, and Instagram, and also a No-Crypto-Ads-Policy decided. Not a few of them had supported this Policy, it has contributed to reduce Inflation to Scam ICOs and substance-free crypto products.
The shadow side, however, was that even serious players have fallen under the censorship. Wanted to make a state University is advertising for a Blockchain event, this was prevented in the same way as advertising for pyramid schemes, exceptions were to obtain, if at all, only with difficulty. A condition that is not permanent, as Facebook itself acknowledges. Accordingly, it has revised the guidelines so that companies can switch back to crypto-advertising, if your application is approved.
A Like for the bureaucracy
From now on, applications have to be in Facebook submitted, if you would like to crypto-advertising. Although the applications are paperless, however, quite a few information from the advertiser companies – a conscious barrier, like Rob Leathern, Product Management Director at Facebook, says: “In the context of the restrictions not everyone will be able to advertise in front of it.” How strict the clerks and Algorithms, applications and process are rate, is unclear. Also, the processing time is yet unknown.
Should be the procedure as feasible and not too time-consuming, this could be, at least temporarily, a decent compromise between the Wild West and censorship – an aftertaste remains nevertheless. However, it is equally conceivable that the entire procedure is the application of the criteria to look in a few weeks in a completely different way.
Leads Facebook the herd?
As Facebook in January, the crypto-advertising ban had pronounced, was followed by Google, Twitter, and Instagram in a timely manner with its own Anti-crypto-advertising guidelines. Accordingly, the question arises as to whether, now the other Internet companies will loosen their Policy corresponding to Facebook. On Twitter, many of these Posts read:
Re #facebook lifting the ban…
next will be #google and then all the big boys will be back advertising, saying this and that and we are the first regulated blah blah then we will have the pump
None of them can ignore $crypto
Watch it fly.
— Phillip Nunn 🚀 (@PhillipNunnUK) June 26, 2018
Even if there is a lack of official Statements, and it is conjecture of various persons, it is obvious that the other Player Facebook the crypto-advertising field is not easy. Even if ICOs and binary options, which represent a significant part of the crypto-advertising budget, should stay on the outside, would alone Apply the crypto exchanges in the ordinary revenue, to bring money, which can be also the Silicon Valley giants escape only reluctantly.
What that means for the crypto-market?
As in January, the crypto-advertising ban by Facebook was announced, and Google nachzog in March, responded to the crypto market with a correction. Of course, other external factors may have played a role, but the impulse, the Decision was pronouncements tend to be negative for the prices. Conversely, a loosening of the crypto should policy Advertising have a positive effect on the crypto market. Finally, the Internet giants can reach several billion people who now come through any kind advertising, with the crypto-Economy in contact. So people are faced with Bitcoin & co., which previously had no or only a few contact points – a clear pointer gen Mainstream adaptation.
Nevertheless, the question of independence in this context. Where does consumer protection, and where censorship starts? Can you trust Facebook that it makes a largely fair and independent evaluation of crypto products and projects? In particular, against the Background of the Cambridge-data scandal, doubts are not dismissed out of Hand.
One should not forget in this context: The current business model of Facebook is contrary to the Blockchain-a Narrative diametrically opposed. Facebook is octopus a centralized data, whereas the decentralized basic idea of the Blockchain is exactly the opposite provides, namely the Data pertaining to the users.
A crypto of the new policy strategy on the part of Facebook?
The rumour in the social media. Not a few in the Advertising easing, a first step, the belongs to part of a larger crypto strategy Facebook. While there is of of the in may based Facebook-Blockchain-Research-group-no official Statements, would these rumors under the walls, but not a few of them, that there will soon be a Token from Facebook. Is based mainly on the statement made by Facebook founder Mark Zuckerberg, who expressed in January of this year that he would like to be more with the Potential of crypto currencies, not less.
It is assumed that Facebook has understood that it can’t stop the crypto-Economy and, accordingly, is well advised to integrate these as much as possible in the existing business. With a user base of two billion people, Facebook has ways to conquer the crypto market has no other company. Quickly Facebook could thus adopt a leadership role in the crypto-Economy, and cryptographic standards shape. According to the Promotional easing could be used as a first step to create slowly a crypto-friendly environment and acceptance. Finally, it would be not only from a PR perspective, a huge contradiction, would Facebook crypto-say-advertising, but one day his own tokens and cryptographic services.
Clearly, however, must be also: of All the daring theses, in Spite of you – as of today – any evidence, the Token that the part of the Internet giants. It remains conjecture.
A rumor has it
In addition to the publication of a Facebook-Token is currently being discussed in another Thesis in the social media: As David Marcus, Vice President of the APP Division at Facebook, is also the largest crypto exchange in the US (Coinbase) sits on the Board, it is now speculated that the company could buy Coinbase. Here, too, it is not more than a rumor, and there is a lack of solid Evidence, however, would be a. such Acquisition, more than appealing to the Social Media service provider With over two billion users, Facebook could reach a built-in and, if necessary, with a private Token matched Exchange-solution to a whole new Level of value creation. The major Internet companies have long been financial services in the visor, such as Apple Pay, Google Pay or Amazon Pay. That Facebook does not want to let his gigantic user number to unused, is. Is here to expect from Facebook, whether with or without Coinbase.