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Bitcoin aside, should we be fearful of an institutional drive into cryptocurrency, or ex…

26 Jul Bitcoin aside, should we be fearful of an institutional drive into cryptocurrency, or ex…

Posted at 20:08h in Cryptocurrency News by

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Guest post by Jack Lu from Wanchain

Jack is the Founder & CEO of Wanchain.

The past month or so has been totally overcome with news about Facebook making a play for a slice of the cryptocurrency pie with its Libra project. Instagram, Facebook, and WhatsApp could all suddenly be opening their doors to blockchain-based cryptocurrencies; over 2 billion people introduced overnight.

It may sound exciting, but it is also a little terrifying. Bitcoin, as the original cryptocurrency, was born out of the 2008 economic crisis and was intended to give the power back to the people when it came to their finances. Now, a corporation like Facebook, known for taking advantage of users’ data, wants to be a cryptocurrency financial provider?

More so, the cryptocurrency ecosystem that has been building in the last couple of years, since Bitcoin breached the mainstream market, has been predicated on empowering start-ups and innovators to break away from the traditional way of doing business.

Still, it…

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