Will facebook cryptocurrency be successful?
Facebook, Twitter and cryptocurrency. People should not lose their illusion, Ottman points out
Bill Ottman, CEO of Minds.com, was last week a guest of Joe Rogan's popular podcast, discussing the importance of open-soucre solutions and decentralization. They believe that these two elements will lead to the construction of a social infrastructure that truly respects human rights.
In the interview, he criticized the controversial attitudes of Facebook and Twitter for blockchain and cryptocurrency technology.
As far as Facebook is concerned, it seems that in the first half of this year, it will issue its own Facebook Coin cryptocurrency that will copy the value of the US dollar. Twitter's CEO Jack Dorsey continues to bust Bitcoin and considers him the next major internet menu. In addition, Square is supporting BitTorrent payments and is preparing to implement the Lightning Network into the popular Mobile App.
Facebook and Twitter do not share the Bitcoin values
Bill Ottman, however, thinks Facebook head Mark Zuckerberg and CEO Twittru Jack Dorsey actually act contrary to the basic philosophy of adopting cryptocurrency because their systems, whether Facebook or Twitter, are far from building a decentralized open-source environment.
"I think there is a big contradiction between what Dorsey supports Bitcoin and at the same time his Twitter platform is closed. The philosophy of Twitter is in conflict with the Bitcoin philosophy, "he said.
Ottman also mentioned the Mobile App for Mobile App, which is also centralized and closed. "It looks like they're trying to use Bitcoin instead of building it," he said.
"I think the basic philosophy of Twitter and Facebook, which also launches its own blockchain solution, is that they are trying to use this topic to create captions, but they will not be equally open to their own products. If they want to behave like Bitcoin, then they should spread Bitcoin's philosophy, open-source solutions and decentralization to their own products. But I do not feel that they are making any efforts in this direction. "
Ottman then said Facebook and Twitter did not share the same values Bitcoin did with him. "I fully support big technology companies that try to include cryptocurrency in their services. But people should not be fooled by the fact that Facebook and Twitter really care about the values they bring cryptocurrency if their services are not open source and decentralized, "he concluded.