Facebook Black Thursday

In one of Facebook’s darkest days the tech giant lost over $120 billion in overnight trading. Largely due to sales and user growth not hitting quarterly projections. Also if you think about the privacy and data scandal that has gone on, they will be acquiring more staff and resources to deal with these issues and this will inevitably lower forecasts for the remainder of the year with lower profit growth.

Many crypto experts and people from the crypto community jumped onto twitter and were quick to compare the devestating loss Facebook incurred to the entire market cap of Bitcoin, and 47% of the crypto market cap!!

One twitter user made a good point..if Facebook is the backbone of internet 2.0, then could blockchain and crypto be the backbone of internet 3.0?

Could blockchain and the likes of XRP, ZRX (0x), Ethereum be at the forefront of the way money is moved, and the way data is transparently visible, stored and accessible across the globe. Time will tell.