A question in mind is which of the Alphabet Inc., Amazon Inc., Facebook or Netflix has been involved in the shouting of investors in regard to blockchain or Bitcoin?
None of the organizations has done that. According to the regulatory filings done in Bloomberg’s website, Bitcoin or Blockchain has not been mentioned in the organization’s disclosures from 2008. David Wells. Netflix CEO came close when he said that a “borderless currency” in the next decade would be good.
Therefore, this silence – bearing in mind that the filings don’t include the interviews and social media – is telling. This is since it is the billionaire’s class included by successful people who have mottos such as “move fast and break things” or rather “step by step, ferociously.”
The Winklevoss twins supported Bitcoin. However, Mark Zuckerberg, Bill Gates and Warren Buffett didn’t. This means that one can’t do their shopping using digital currencies from Amazon. From cryptocurrency volatility, deflation in demand, and the regulatory risks, the best step witnessed being done by digital currencies is banning Bitcoin and Crypto related ads.
The Crypto Cold Shower
The Bitcoin rollercoaster braked in 2018 January. However, organizations are still using blockchain.
However, why are there no tribulations for the speculation-free, blockchains which are organization friendly, which have secure and efficient distributed ledgers?
Large banks such as the HSBC Holdings Plc have promoted it declaring it as a more secure and also efficient way for data movement without hurting the major business. It’s almost a decade since the creation of blockchain, Zuckerberg did a study about virtual currencies and encryption.
To cool for Blockchain School
Top IT and Finance organizations dominate the top patent holders
Wall Street dinosaurs are aggressive. The major finance based forms have the largest blockchain patent shares than the tech firms. The latter is however dominated by old organizations such as IBM. Do tech firms show reluctance in blockchain because they might see it as a threat?
For instance, Facebook is centralized, an entrenched middleman might sell $40 billion worth of ads in a year and this is due to the fact that the user data surrendered is free. The blockchain based startups are currently pitched targeting he business economics. Libre has been making a proposal in helping people control, make authentications and get involved in the selling of data to the platforms for a transparent price using blockchain. If this happens, Facebook could, therefore, lose users and force the organization to do a reinvention.
The tech elite might know something we don’t. therefore, if the enormous banks have survived the previous decade of Crypto-distribution and fintech and get involved in blockchain to get the buzzword benefit, maybe the entrenched and the wealthy silicon valley forces could do this without panic.
The previous ICO proliferation was to disrupt the capital funding model venture but might be co-opted. Telegram ditched its own public ICO plan just after it raised a total of $1.7 billion.
Facebook might not torpedo the current organizational model for just fun and might unlikely see the various competitive startups as threats just until a point where the users sign off en masse and also stop data control. This has not happened yet.