Is social media making the future of cryptocurrencies?

Cryptocurrencies are considered a potential threat to the global banking system, an asset capable of "killing" banks. At the same time, social networks use virtual money in the interests of business, giving it an additional boost in development. The implementation of global projects from global giants is not far off: Facebook, Twitter and Telegram. Companies intend to launch their own cryptocurrencies to avoid intermediaries like Mastercard.

Zuckerberg's Napoleonic plans

The media has already been shouting from all sides that Facebook is going to launch not just a money token, but a stablecoin. Field trials of the coin were announced for June this year on the WhatsApp platform. Unnoticed by the public eye, even personnel changes took place - former Coinbase top manager David Marcus received the position of vice president at Facebook Messenger.

Another significant development was Zuckerberg's acquisition of UK-based blockchain startup Chainpase.

If Facebook realizes such grandiose plans, then hard times will come for Visa, PayPal and others. 2.5 billion users, after all.

However, not everyone believes Mark’s words, and the scandalous background of user privacy violations will not add confidence to future tokens.

How far Durov has gone in his fantasies

Telegram is not far behind in terms of the number of planned events: the Telegram Open Network (TON) platform, the crypto-currency wallet of the same name, it will become possible to buy online music, videos, games.

In general, Gram will become a global means of payment for services, goods, and even masking the IP address.

And finally, Donald Trump's favorite Twitter

Jack Dorsey doesn't need his own cryptocurrency: he will work with the best that is available today - Bitcoin. The main currency will become a means of payment in the social network and its own financial application Cash App.