According to the analyst of the British financial conglomerate Barclays Ross Sandler (Ross Sandler), the project Facebook associated with issuing its own cryptocurrency can be an important source of income for the social networking giant.
In a note to investors, CNBC first published, Sandler suggested that the release of the Facebook coin can bring from 20 to 19 billion dollars of additional income in 2021. For comparison, profit of the company amounted to 40.6 billion dollars in 2017, of which 39.9 billion dollars brought advertising.
However, the financial success of the project depends on “whether Facebook Coin for a successful implementation of the strategy of micropayments to support digital content,” says Sandler.
The analyst also sees two main problems of Facebook in the achievement of ambitious crypto-purposes: the need to convince users of the value of the new cryptocurrency and to overcome the distrust of consumers to the stock market after a protracted crisis of 2018.
Obviously trying to overcome the distrust of potential users, CEO of Facebook, mark Zuckerberg last week published a message urging the Facebook community more focused on privacy. Although the word “cryptocurrency” wasn’t mentioned, payments and encryption often pop up in the speech of Zuckerberg.
Sandler noted that much remains uncertain to date in respect of cryptoprocta associated with Facebook. However, the analyst mentioned another project, developed by the Californian start-up The Menlo Park in 2010 Facebook Credits, very reminiscent of modern cryptocurrencies.
“Facebook probably just looking for a tool for processing microtransactions and revitalize the original business model that existed in 2010-2012 in the framework of Facebook Credits, says Sandler. — however, the project may be much bigger, especially considering that the project is headed by David Marcus (former CEO of PayPal)”.
Indeed, Facebook in recent months, actively involves professionals in the field of cryptocurrency. On the website of the recruitment company you can find at least 20 jobs related to blockchain technology.