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Facebook makes a U-turn on Blockchain and cryptocurrency ads, CNBC reports. Hence, more crypto-oriented companies will be able to promote their products on the biggest social media network.
‘Facebook Coin’ Reportedly Coming in First Half of 2019

‘Facebook Coin’ Reportedly Coming in First Half of 2019

No need for pre-approval

As reported by U.Today, Facebook relaxed is crypto ad ban back in June, but ICOs were still barred from the website. Despite this announcement, the social media giant continued to blackball the majority of crypto-related ads. The thing is, Facebook only readmitted the companies that already got the green light before the ban, but the majority of new submissions have been rejected (mostly for some obscure reasons).

Now, a wide range of crypto-related ads does not need to be pre-approved at all. It appears that only those ads that are promoting ICOs and other crypto projects will be vetted as usual by Facebook.

“While we will still require people to apply to run ads promoting cryptocurrency, starting today, we will narrow this policy to no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency,” the blog post read.

Back in October, Google also reversed its crypto ban for regulatory compliant exchanges after banning crypto ads along with a slew of other tech companies, such as LinkedIn and Snapchat.

Mark Zuckerberg Shuts Down P2P Payments in Messenger – Getting Ready to Launch ‘Facebook Coin’?

Facebook’s crypto bet

Facebook had no choice but loosen its grip on crypto since it’s prepping to issue its own cryptocurrency that is supposed to become a major disruptor in the industry. Facebook’s foray into crypto is allegedly the reason why major institutions are becoming enthusiasticabout digital assets.

Source: U Today

Andrew Bustamante recently responded to a question on a subreddit thread on Reddit which asked what the biggest threat to the America national security in the future will be. He replied saying blockchain technology will be the biggest threat and whoever manages to figure out the technology first wins.

The subreddit thread where the question was raised is a thread dedicated to Bustamante’s ‘Everyday Espionage’, where he supposedly teaches people to benefit from international espionage techniques by implementing them in daily lives. Considering the fact that Bustamante is reportedly a former CIA intelligence officer, U.S. Air Force veteran and Fortune 10 corporate advisor, he does have the qualifications to do so.

On 22 December 2018, the question was raised in the subreddit thread, together with several possible answers such as “climate change”, “Iran”, “North Korea” or “Russia”. He responded saying blockchain technology is “super powerful stuff”, and the whoever is capable of figuring out “how to hack it, manipulate it or bring it down wins”. However, he did not elaborate further on how exactly blockchain could threaten the country’s security.

Since then, multiple Redditors have speculated possible theories regarding Bustamante’s remarks on the technology. One of them suggested that the ability to create false data within the blockchain would be disastrous when paired with the high difficulty of fixing data in a blockchain-based system. Another Redditor suggested that blockchain offers the potential of making certain transactions “untraceable” and “anonymous”, thus ending up being a possible threat to security.

Quantum computing was also mentioned in the thread. Bustamante replied to a Redditor’s question asking for clarification whether developments in blockchain or quantum computing would be a more concerning factor to the country’s security. He replied that the Redditor had a “fair point”, and this remark a lot sparked new discussions on the topic.

As quantum computing was said to hold the possibility of permanently changing the cryptographic protection that defines blockchain, it was speculated that quantum computing was what Bustamante was referring to by his “bring it down” remark.

Over the past few months, the U.S. Department of Justice (DoJ) had charged several people from Russia’s Main Intelligence Directorate (GRU) for crypto-related crimes. In July, the DoJ charged twelve individuals while another seven officers were charged in October, all from the GRU and involved in crypto-related hacking operations.

Source: Cryptoverze