Cryptocurrencies and the Distribution of Power in the Age of Google and Facebook

Although Bitcoin has been able to prove it is possible to exchange value without the need for the centralization of money production and validation, cryptocurrencies have a long way to go. Exchanging value freely online is probably the most important achievement since the internet actually came to existence. If you think about it, despite how many other technologies will influence, accelerate and improve the overall quality of living, like AI, VR, AR and machine learning, none can compare with cryptocurrency in terms of basic influence on people’s lives. This is, in a few years everyone will definitely use some sort of cryptocurrency for payments. Why would people still want to hold onto bank accounts that have fees to maintain? I’m not referring to companies or governments; I’m talking about people in general. The influence cryptocurrencies can have in daily things will happen much faster than other technologies, much like the internet.

When you hear a company is blocking certain ads, behaviours, actions, posts, whatever it is, the reasons are most likely competitive ones. This is, the easiest way for any company to dominate the market is by shaking off competition. Let’s use the two examples mentioned above.

Facebook:

“This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up across our platforms including Facebook, Audience Network and Instagram. We will revisit this policy and how we enforce it as our signals improve.”

Google:

“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumers harm or potential for consumer harm that it’s an area that we want to approach with extreme caution.”

Reference: https://www.ccn.com/cryptocurrencies-and-the-distribution-of-power/

Leave a Reply

Your email address will not be published. Required fields are marked *